ice-capades Posted February 20 Share Posted February 20 (edited) 2023 Ford Mustang Mach-E Prices Slashed Amid High Inventory https://fordauthority.com/2024/02/2023-ford-mustang-mach-e-prices-slashed-amid-high-inventory/ After getting off to a hot start, demand for the Ford Mustang Mach-E – along with EVs in general – has tapered off as of late, for a variety of reasons. Part of that decline can be attributed to high pricing, of course, and Ford has responded by offering a variety of discounts on its EV crossover, while also making it eligible for X-Plan pricing and a new dealer rental program, to boot. Regardless, high inventory levels and the fact that the Ford Mustang Mach-E is no longer eligible for federal clean energy tax credits aren’t helping matters, and as such, The Blue Oval has decided to slash the price of its 2023 model year EV crossover to help make room for 2024 models, according to the Detroit Free Press. This latest round of price cuts for the 2023 Ford Mustang Mach-E varies by trim, but all are significant, regardless. At the lower end of the trim level lineup, the Select has received a price cut of $3,100, followed by the Premium Standard Range at $4,100, the GT at $7,600, and the Premium Extended Range and California Route 1, which are now a whopping $8,100 cheaper than before. This means that the entry-level Select – the cheapest 2023 Mach-E – starts out at $42,995, though it’s worth noting that Ford has also raised destination and delivery charges by $500 as well. According to this report, Ford chose to cut its 2023 Mach-E prices due to high inventory, while also aiming to better compete with Tesla, which has dropped the price of its Model Y crossover several times as of late. On top of that, Ford Credit is also offering zero percent financing for 72 months, plus a $7,500 cash incentive on leased vehicles that can be applied immediately to lower monthly payments. “We are adjusting pricing,” said Ford spokesman Marty Gunsberg. “As we continue to adapt to the market to achieve the optimal mix of sales growth and customer value.” Edited February 21 by ice-capades Typo Quote Link to comment Share on other sites More sharing options...
ice-capades Posted February 21 Author Share Posted February 21 Ford cuts price of 2023 Mustang Mach-E by up to $8,100, offers 0% financing https://www.freep.com/story/money/cars/ford/2024/02/20/ford-mustang-mach-e-price-lower/72661435007/ Ford cuts pricing on 2023 Mustang Mach-E https://www.detroitnews.com/story/business/autos/ford/2024/02/20/ford-cuts-pricing-2023-mustang-mach-e/72671001007/ Quote Link to comment Share on other sites More sharing options...
Flying68 Posted February 21 Share Posted February 21 Wonder when the window stickers will reflect this price cut. The ones around here are still at the old prices, even the online window stickers haven't updated yet. Quote Link to comment Share on other sites More sharing options...
akirby Posted February 21 Share Posted February 21 45 minutes ago, Flying68 said: Wonder when the window stickers will reflect this price cut. The ones around here are still at the old prices, even the online window stickers haven't updated yet. They don’t update the ones already produced. They usually just add rebates for those. Quote Link to comment Share on other sites More sharing options...
fuzzymoomoo Posted February 21 Share Posted February 21 On a completely unrelated note, it drives me nuts how ford authority ends every damn article with the same fill-in-the-blank form paragraph. 2 2 Quote Link to comment Share on other sites More sharing options...
Flying68 Posted February 21 Share Posted February 21 37 minutes ago, akirby said: They don’t update the ones already produced. They usually just add rebates for those. The article was that they cut prices of 2023 models, being it is 2024 and they aren't making 2023 models anymore, would seem logical that they would want to issue new Monroney's and invoices to reflect the lower prices, especially if they want to move inventory, because the dealers are all still showing the MSRP. If they intended to issue rebates it would have said that in the article, but it specifically said prices, which indicates MSRP. Quote Link to comment Share on other sites More sharing options...
ice-capades Posted February 21 Author Share Posted February 21 (edited) With actual vehicle pricing changes, Ford issues revised Dealer Invoices and sends new Window Stickers. Rebates and other incentives are not reflected on either the Dealer Invoices or Window Stickers and are treated separately. Perhaps @Deanh can confirm this as I'm not aware of Ford making any changes to this longstanding policy which also complies with federal pricing disclosure requirements. Edited February 21 by ice-capades Typo Quote Link to comment Share on other sites More sharing options...
akirby Posted February 21 Share Posted February 21 I guess if they were just doing rebates they wouldn’t have mentioned the MSRP change on the 23s. Quote Link to comment Share on other sites More sharing options...
Deanh Posted February 21 Share Posted February 21 3 hours ago, ice-capades said: With actual vehicle pricing changes, Ford issues revised Dealer Invoices and sends new Window Stickers. Rebates and other incentives are not reflected on either the Dealer Invoices or Window Stickers and are treated separately. Perhaps @Deanh can confirm this as I'm not aware of Ford making any changes to this longstanding policy which also complies with federal pricing disclosure requirements. I dont know yet my friend...I literally just saw the press release...I swear...i just quoted one yesterday and now this...lol. If I hear anything Ill forward the info....this is nuts...as if losing the rumored 30 k per unit wasnt enough... 1 Quote Link to comment Share on other sites More sharing options...
ice-capades Posted February 22 Author Share Posted February 22 (edited) Ford Sweetens 2023 Mustang Mach-E Price Even More for Employees, Friends, Family, Retirees https://www.freep.com/story/money/cars/ford/2024/02/21/ford-mustang-mach-e-price-cost-friends-family-employees/72682250007/ Ford Motor Co. revealed Wednesday a special price break for Ford employees, their family members and friends in addition to price cuts announced a day earlier for the electric 2023 Mustang Mach-E. The amount: $2,750 more off the purchase of the all-electric SUV in addition to cost cuts of up to $8,100 and offers including 0% interest. In southeast Michigan alone, the Dearborn automaker employs a estimated 50,000 employees who qualify for the price break, Ford spokesman Marty Gunsberg told the Detroit Free Press. Ford retirees also qualify, he said. The company ramped up production of the Mach-E at its plant in Mexico just as consumer purchases slowed. Now production has been reduced to reflect slower demand. There's plenty of inventory to fill 2023 Mach-E orders, Gunsberg said. "EV pricing across the industry has become increasingly dynamic over the last year and price changes like this reflect present market conditions," he said. "Updated pricing is available for any customer who has a Mach-E on order and/or takes delivery of a Mach-E from Feb. 20, 2024." Traffic on the Ford website after the news of price cuts spiked 600% on Tuesday, Gunsberg said. Ford CEO Jim Farley and CFO John Lawler have told Wall Street analysts that Ford is losing money on its electric vehicles that's covered by the profits generated by gas-powered and hybrid pickups. Ford is trying to compete directly with Tesla to establish a stronger base in the U.S. as the industry transitions. While the price reductions do not apply to 2024 Mustang Mach-E SUVs, Gunsberg told the Free Press that Ford is "constantly monitoring the market and will continue to adjust to achieve the right mix of sales growth and customer value." Edited February 22 by ice-capades Additional Content Quote Link to comment Share on other sites More sharing options...
fuzzymoomoo Posted February 22 Share Posted February 22 Man if that offer was out there a month ago it would have been pretty tempting. Quote Link to comment Share on other sites More sharing options...
ice-capades Posted February 22 Author Share Posted February 22 14 minutes ago, fuzzymoomoo said: Man if that offer was out there a month ago it would have been pretty tempting. It'll be interesting to see how dramatic and how quickly the new pricing actions will impact the 2023MY Mustang Mach-E inventory. It'll take some time to see results, but I'd expect to see a substantial drop in inventory over the next couple of months. If Ford can start "right sizing" the inventory level with these new 2023MY pricing actions, I'd expect Ford to implement similar changes to the 2024MY Mach-E's but not as extensive. Time will tell! Quote Link to comment Share on other sites More sharing options...
Deanh Posted February 22 Share Posted February 22 looks like a BUNCH of MSRPs have been adjusted in fmcdealer regarding our inventory.................theres some big uns. Really not surethis is actually a good thing..not that resale was a good thing from the get go...but theres absolutey ZERO chance Id recommend a purchase over a lease in any way or form.....resale was bad before...now for people that bought a Mach E prior to these price slashes their trade in values will be suicidal.... 2 Quote Link to comment Share on other sites More sharing options...
ice-capades Posted February 22 Author Share Posted February 22 1 hour ago, Deanh said: looks like a BUNCH of MSRPs have been adjusted in fmcdealer regarding our inventory.................theres some big uns. Really not surethis is actually a good thing..not that resale was a good thing from the get go...but theres absolutey ZERO chance Id recommend a purchase over a lease in any way or form.....resale was bad before...now for people that bought a Mach E prior to these price slashes their trade in values will be suicidal.... Thanks for the update! Quote Link to comment Share on other sites More sharing options...
2005Explorer Posted February 22 Share Posted February 22 6 hours ago, Deanh said: looks like a BUNCH of MSRPs have been adjusted in fmcdealer regarding our inventory.................theres some big uns. Really not surethis is actually a good thing..not that resale was a good thing from the get go...but theres absolutey ZERO chance Id recommend a purchase over a lease in any way or form.....resale was bad before...now for people that bought a Mach E prior to these price slashes their trade in values will be suicidal.... I'm not a car dealer by any means, but would it be better to leave MSRP what it was and just offer large rebates or actually lower the MSRP when it comes to resale or does it make little difference? Quote Link to comment Share on other sites More sharing options...
jpd80 Posted February 23 Share Posted February 23 13 hours ago, Deanh said: looks like a BUNCH of MSRPs have been adjusted in fmcdealer regarding our inventory.................theres some big uns. Really not surethis is actually a good thing..not that resale was a good thing from the get go...but theres absolutey ZERO chance Id recommend a purchase over a lease in any way or form.....resale was bad before...now for people that bought a Mach E prior to these price slashes their trade in values will be suicidal.... This, I bet the value of these things heads for the cellar, so it’s better to lock in a hand in price value now. If these discounts are impressive, what will Ford do if they still don’t move enough of them? Wouldn’t it be ironic if Ford had to pay dealers a million bucks to sell their BEVs….. 1 Quote Link to comment Share on other sites More sharing options...
Deanh Posted February 23 Share Posted February 23 11 hours ago, jpd80 said: This, I bet the value of these things heads for the cellar, so it’s better to lock in a hand in price value now. If these discounts are impressive, what will Ford do if they still don’t move enough of them? Wouldn’t it be ironic if Ford had to pay dealers a million bucks to sell their BEVs….. well...along with the rather large price slashing ( some are $6100 from base MSRP ) theres $8500 in rebates on a lease...which is pretty much the smartest way to purcahse one right now given what they are worth at the end is in Fords court....so, 6100 price cut, $8500 in rebates...potential losses at Lease end and apparently a $30000 loss per unit.....the future looks oh so bright......What they NEED is a lease sapecial $399 amonth for the cheapest model, $499 for the next model up, peaking at $677 for a GT.... Quote Link to comment Share on other sites More sharing options...
Deanh Posted February 23 Share Posted February 23 17 hours ago, 2005Explorer said: I'm not a car dealer by any means, but would it be better to leave MSRP what it was and just offer large rebates or actually lower the MSRP when it comes to resale or does it make little difference? doesnt matter what you do....it comes down to payment.... Quote Link to comment Share on other sites More sharing options...
mackinaw Posted February 23 Share Posted February 23 15 minutes ago, Deanh said: ...potential losses at Lease end and apparently a $30000 loss per unit..... Misery loves company? Rivian just announced they've lost $43,000/vehicle from October-December of last year. Quote Link to comment Share on other sites More sharing options...
Deanh Posted February 23 Share Posted February 23 58 minutes ago, mackinaw said: Misery loves company? Rivian just announced they've lost $43,000/vehicle from October-December of last year. extremely tough call from a manufacturers standpoint...damned if you do damned if you dont...ay least initially I think there was fear of basically becoming redundant if you didnt jump on the Bandwagon....Im sure theres a LOT now questioning venturing down the BEV road...at least initially. I remember theflak Toyota received for not embracing BEV as much as people believed they should....sure looks like a wize move now for being somewhat conservative/ wary..... Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted February 23 Share Posted February 23 1 hour ago, Deanh said: I remember theflak Toyota received for not embracing BEV as much as people believed they should....sure looks like a wize move now for being somewhat conservative/ wary..... Here’s the problem-Toyota was talking out of both sides of its mouth-yet they are spending billions on EV stuff in their Kentucky plant. Ford was expecting a quicker changeover to EVs then what was happening (most likely due to investors and believing they’d make more profit) and talked them up, but outside of getting rid of the edge, they still have ICE/hybird products in production for the next 10-15 years. Quote Link to comment Share on other sites More sharing options...
Deanh Posted February 23 Share Posted February 23 1 hour ago, silvrsvt said: Here’s the problem-Toyota was talking out of both sides of its mouth-yet they are spending billions on EV stuff in their Kentucky plant. Ford was expecting a quicker changeover to EVs then what was happening (most likely due to investors and believing they’d make more profit) and talked them up, but outside of getting rid of the edge, they still have ICE/hybird products in production for the next 10-15 years. heres the kicker....they havent produced anything barring ONE vehicle yet , and not gung ho by any account...so, by my books thats a potential loss savings of approx 30k per unit....at least right now. If I was them Id definitely be apprehensive...and I think the very reason they DID invest in that plant was pressure from Stockholders no? ( correct me if Im wrong ) ....the stockholders most likely read all the hype as well and bought into it....thank GOD Ford still has their ICE vehcles as a foundation.... Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted February 23 Share Posted February 23 22 minutes ago, Deanh said: heres the kicker....they havent produced anything barring ONE vehicle yet , and not gung ho by any account...so, by my books thats a potential loss savings of approx 30k per unit....at least right now. If I was them Id definitely be apprehensive...and I think the very reason they DID invest in that plant was pressure from Stockholders no? ( correct me if Im wrong ) ....the stockholders most likely read all the hype as well and bought into it....thank GOD Ford still has their ICE vehcles as a foundation.... But that apparent loss is because things like the battery plants and BOC are figured into that said profit margin that Model E is losing their shirts on. Let’s see what the actual deal is when they come online. it’s like the 30-60k battery pack replacement costs that get thrown around-there is next to no “extras” being built so the price goes up accordingly. Economics 101. It’s like Bronco Raptor parts-I’ve seen the dash handles getting sold for $1200 bucks then the regular ones cost maybe 1/8th of that. Quote Link to comment Share on other sites More sharing options...
mackinaw Posted February 23 Share Posted February 23 1 hour ago, Deanh said: heres the kicker....they havent produced anything barring ONE vehicle yet , and not gung ho by any account...so, by my books thats a potential loss savings of approx 30k per unit....at least right now. If I was them Id definitely be apprehensive...and I think the very reason they DID invest in that plant was pressure from Stockholders no? ( correct me if Im wrong ) ....the stockholders most likely read all the hype as well and bought into it....thank GOD Ford still has their ICE vehcles as a foundation.... The pressure came from the investment community. Five years ago, influential Wall Street analysts, like Adam Jonas (Morgan Stanley), predicted the EV wave would be like a tsunami. He was predicting mass adoption of EV's in a matter of a few years. If your company wasn't seen as investing in EV's, then it had no future. So, fearful that they would lose investors, every manufacturer fell in line and developed EV's. Fast forward to 2024, and the mass adoption of EV's is moving at a much slower rate than anyone expected (outside of Akio Toyoda). As is always the case, the marketplace has the final word. 3 Quote Link to comment Share on other sites More sharing options...
jpd80 Posted February 23 Share Posted February 23 (edited) 6 hours ago, Deanh said: well...along with the rather large price slashing ( some are $6100 from base MSRP ) theres $8500 in rebates on a lease...which is pretty much the smartest way to purcahse one right now given what they are worth at the end is in Fords court....so, 6100 price cut, $8500 in rebates...potential losses at Lease end and apparently a $30000 loss per unit.....the future looks oh so bright......What they NEED is a lease sapecial $399 amonth for the cheapest model, $499 for the next model up, peaking at $677 for a GT.... About 50% of the current dealer inventory looks to be the Premium trim, so either Ford has over produced or it’s the model buyers like the least. Select trim looks to be about a quarter of the vehicles currently in stock, likewise GT version. California Route trim is only a small amount maybe 1,200. Ford still doesn’t understand why buyers abandoned Mach E, so their strategy to move the backlog is imprecise. Ford needs to better target who their potential buyers are, I would shovel a ton of Pemiums into dealer courtesy vehicles to deal with the problem now and flick them to the used market in 18 month- 2 years time as a Ford leasing deal to cover them another two years - just subvent the whole thing Edited February 23 by jpd80 Quote Link to comment Share on other sites More sharing options...
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