Ford’s chief Jim Farley informed the price cut of the Mustang Mach E cars on Twitter.
American multinational automobile company Ford is trimming prices of its electric car Mustang Mach-E, the company’s chief Jim Farley wrote on Twitter. Ford has also announced a “significant” production increase of its Mustang Mach-E sports utility vehicles this year.
“At @Ford, we want to make EVs more accessible, so we’re increasing #MustangMachE production & reducing prices across the Mach-E lineup. Scaling will shorten customer wait times,” Jim Farley, Ford’s chief executive officer said. “And with higher production, we’re reducing costs, which allows us share these savings with customers.”
In the same thread, he replied to a Tweet by the Internet Brands Automotive Group’s Senior Producer Joel Feder about how much will Ford be increasing Mach-E production. The company is targeting 130,000 units of Mach-E this year, up from 78,000 in 2022, he said.
“Proud to announce we’re significantly increasing production of Mustang Mach-E® SUVs in 2023. By streamlining production costs, we can significantly lower prices across the entire lineup,” according to another Tweet from Ford Mustang’s handle.
According to a Reuters report, the automobile maker is trimming prices of various Mach-E versions by up to 8%, and also slashing the price of the extended-range battery by about 19%. Additionally, the cheaper models are getting smaller $600 to $900 price cuts, it noted; adding that the price cut by the Mustang maker will only impact North American prices.
Elsewhere, electric car maker Tesla in November was reportedly working to revamp its Model 3 sedan as it aims to cut production costs on the vehicle. However, it is unclear the amount of savings Tesla would achieve with this redesign.