In response to the intensifying competition in electric cars, Tesla shifted their pricing policy recently. With Elon Musk at its helm, the company decreased prices by thousands of dollars after experiencing a decline in vehicle availability.
Recently, the American automaker Ford made headlines with their announcement that the Mustang Mach-E has seen a dramatic price decrease in the US. This reveal follows an increase in this model’s prices back in August and marks a major shift in Ford’s policy surrounding its vehicles.
Ford’s Electric Model Has A 9% Discount
Ford set a precedent with their decision to lower the price of electric models by as much as 9%. On average, they saw an overall 6% discount across all packages. For instance, the most expensive package – the GT Extended Range Mach-E – went from $69,895 to $63,995; and even cheaper packages dropped prices from $46,895 down to just under $46,000.
Ford is taking drastic measures to remain competitive and has decided to raise the production capacity of the Mustang Mach-E for 2023. This year’s estimated output is 130,000 vehicles, significantly higher than their original target quantity of 78 thousand. Executive Marin Gjaja commented: “With an ever-evolving market landscape, we must adjust our strategies accordingly – that’s why we are pushing forward with such increased numbers.”
Successive Discount News Intensifies the Competition
Ford‘s recent change in policy came on the heels of Tesla‘s major discount decisions that shook up the electric car market. Subsequently, experts forecasted a domino effect with other competitors lowering their prices as well. Currently, Tesla holds reign over USA’s best sellers list for electric vehicles, with its Model 3 and Model Y cars leading the charge, while Ford is in third place thanks to Mustang Mach-E.
