Tesla Model Y, Mustang Mach-E Competitor, Gets New $59K Starting Price

The Tesla Model Y has received a number of price increases in recent months as Tesla continues to battle supply chain issues and increased demand. Back in January, Tesla launched the cheaper Standard Range model with an MSRP of $41,990, but just a couple of weeks later, it disappeared from the automaker’s website and is now no longer available. Regardless, back in March, shoppers could still get a Long Range Model Y for $49,990, but that seems like a distant memory now, as multiple price increases have raised that model’s MSRP to a whopping $58,990, minus a mandatory $1,200 destination fee and excluding incentives. Even worse, the estimated delivery time for a Model Y Standard Range model has crept all the way back to October 2022.

That makes the cheapest Ford Mustang Mach-E equivalent – the Premium paired with the Extended Range battery and electric all-wheel drive – a rather enticing proposition with a starting MSRP of $55,800 – minus a $1,100 destination charge. Those that want to save even more money and don’t mind giving up some range and sticking with rear-wheel drive can get a Mach-E for as little as $42,895, minus destination charges.

However, it’s possible to get a Mach-E even cheaper. For starters, Ford’s all-electric crossover is still eligible for the $7,500 federal tax credit, while the Tesla Model Y is not. That said, Mach-E lessees won’t be able to take advantage of the credit unless they opt for the Ford Options Plan, a type of balloon financing that provides lower monthly payments than a purchase, yet also requires a larger one-time payment at the end of the loan term.

Additionally, as Ford Authority reported last month, the 2022 Mustang Mach-E is eligible for up to a $2,500 discount in certain markets, but only for customers who finance the vehicle through Ford Credit using the Ford Options Plan. Regardless, those interested in purchasing or leasing a Mach-E should check with their dealers to get the latest pricing information.

We’ll have more on everything Ford’s competition is up to soon, so be sure and subscribe to Ford Authority for non-stop Ford news coverage.