Ford Raising Car Prices By Insane Amount?
In accordance with both the market and other car companies, Ford buyers will soon have to pay a lot more for one type of car.
This article is more than 2 years old
As it reopens orders for the 2023 model year, the Ford Motor Company is raising the starting prices for some of its electric Mustang Mach-E crossovers. Starting this week, folks will have to pay $3,000 more for base models and as much as $8,000 for well-equipped higher-range versions of the SUV. The cost of the rear-wheel-drive base models will jump from about $43,000 to almost $46,000. The Mustang Mach-E GT, which has an all-wheel-drive and a bigger battery pack, will increase from $62,000 to $69,900.
The news comes just weeks after Ford announced was raising the price of its F-150 Lightning electric pickup. Speaking to CNN Business about the Mustang Mach-E price hike, the carmaker cited the continued strain on key supply chains, and rapidly evolving market conditions. However, the company said it would monitor prices and market conditions throughout the upcoming model year. Customers with outstanding orders for 2022 vehicles, which have not been scheduled for manufacturing and delivery, will be offered a 2023 model instead.
Fortunately, the higher price will come with a few perks. Ford says additional features are being added to the new Mustang Mach-E models. The auto manufacturer’s “Co-Pilot 360” advanced driver assistance technology will be standard equipment on all these models. This includes lane-keeping assistance, automatic high beams, and blind spot monitoring. Also, all-wheel-drive models with “extended range” battery packs will be able to drive an EPA-estimated 290 miles before needing to recharge, 13 miles more than in 2022 models, the company said in a press release.
“We’re sharing these changes ahead of re-opening order banks so customers can understand the feature and pricing adjustments around ordering a Mustang Mach-E.” Ford’s Chief Customer Officer, Marin Gjaja said. Moreover, available on Premium models with extended range battery and GT Performance Edition is the new Mustang Nite Pony Package. This features high-gloss black 19-inch wheels and a black Pony, black front and rear lower fascia, door cladding, and black mirror caps on the grille to set the Premium apart.
The Ford GT Performance Edition comes with 20-inch high-gloss black wheels and black GT badge. Customers can also pair any Mustang Mach-E exterior color with the Nite Pony Package. Additionally, vehicle enthusiasts can choose from two new colors from the eight available on Mustang Mach-E. This includes Carbonized Gray Metallic and Vapor Blue Metallic. The two new color options replace Dark Matter Gray Metallic and Iced Blue Silver Metallic. Thanks to new federal regulations, buyers will also be eligible for a $7,500 tax credit through the end of 2022. It is unclear if the Mach-E will continue to qualify for tax credits.
Meanwhile, Ford still plans to cut 3 000 jobs from its global workforce as the carmaker attempts to lower costs and restructure its business efforts. As previously reported, the layoffs will affect approximately 2 000 salaried and 1 000 contract employees in the United States, Canada, and India. The plans were revealed in an internal e-mail as the company began notifying workers of the reductions. The move comes as the popular automaker shifts its focus toward electric vehicle production.
