North America: Ford lowers prices and offers cash incentives

Ford has dropped the price of the 2023 Mustang Mach-E in the US and Canada. And to make the F-150 Lightning electric pickup more attractive to customers, the carmaker is adding new cash incentives.

Image: Ford

The latter applies only to certain trims of the 2023 model. The Lariat, XLT, and Pro versions already qualify for a 7,500-dollar retail credit. On top of that, Ford now offers an additional 7,500-dollar retail bonus for the F-150 XLT Extended Range, an additional 5,000-dollar bonus for the F-150 Lightning Lariat Standard and Extended Range, and an extra $12,500 retail bonus cash for the F-150 Lightning Platinum. These incentives apply only to US buyers.

In the case of the Mustang Mach-E, Ford has dropped prices in the US and Canada. In the US, prices dropped by up to 8,100 dollars. That is the case for the Premium RWD (Extended Range), Premium AWD (Extended Range), and California Route 1 AWD variants. The models are now available for $45,895 and $48,895, respectively. Ford has taken 7,600 dollars off the price tag for the GT and GT Performance Edition. The Premium RWD and Premium AWD now cost 4,100 dollars, and the Select variants (RWD and AWD) are 3,100 dollars less.

In Canada, the US carmaker cut prices for the Mustang Mach-E by as much as 13,000 Canadian dollars, roughly 9,600 USD. However, that only applies to the GT Performance Edition Extended Range version. The prices for all other trim levels dropped by 5,000 CAD (3,700 UDS).

The announcement comes after Ford reported consistently high losses for its EV division in 2023. The latter is deep in the red. For the year, revenue in the EV division totalled 5.9 billion dollars (+12 per cent), while the losses of Ford’s EV business totalled 4.7 billion dollars. The Model E division thus lost an average of more than 47,000 dollars per vehicle in Q4/2023. The loss per EV rose from 32,350 dollars in Q2 to around 36,000 dollars in Q3., (USA), (Kanada)


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