Ford Authority

Ford Mustang Mach-E Price Cuts Close Gap With Tesla Model Y

Following multiple rounds of increases, Tesla Model Y prices dropped significantly early this year, making the EV crossover quite a bit cheaper than its chief rival, the Ford Mustang Mach-E. The delta between the two widened even further back in April when Model Y prices dropped again, though the Mach-E also recently received its own reduction, which coincides with the introduction of a new lithium-iron phosphate battery in standard range models. Now, the gap between these two rivals has closed considerably as the EV price wars heat up.

Tesla Model Y Pricing
Model Starting MSRP (April 19th 2023)
Model Y (Base) $47,240
Model Y Long Range $50,240
Model Y Performance $54,240

Following its most recently price cut, the Model Y now starts out at $47,240 for the base model and its 4680 battery cells, which offers an EPA estimated range of 279 miles. Stepping up to the Long Range increases that cost to $50,240 and range to 330 miles, while the Performance costs $54,240 and offers up 303 miles of range.

Ford Mustang Mach-E Pricing
Model/Options 2023 Ford Mustang Mach-E Price – May 2
Select RWD Standard Range $42,995
Select AWD Standard Range $45,995
California Route 1 AWD Extended Range $56,995
Premium RWD Standard Range $46,995
Premium AWD Standard Range $49,995
GT AWD Standard Range $59,995
Extended Range Battery For Premium RWD $7,000
GT Performance Edition Package $5,000
BlueCruise 1.2 $2,100
Destination and Delivery $1,800

Meanwhile, the cheapest Ford Mustang Mach-E – the Select RWD Standard Range – now costs $42,995 with an EPA estimated range of 250 miles, which makes it a compelling alternative to the base Model Y for those that can live without the extra 29 miles of range. Getting close to the Model Y Long Range in that regard requires spending more money, however, as the extended range Premium models offer 290 and 310 miles of range. The high-performance GT is also considerably more expensive than the Model Y Performance, and needs the optional GT Performance Edition Package to match its performance, too.

We’ll have more on the Mach-E soon, so be sure and subscribe to Ford Authority for more Mustang Mach-E news and non-stop Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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  1. Murray Henly

    The Mach-E is shockingly small inside. But it’s not a surprise if we remember it was designed as an Electric Focus and only later re-branded as a Mustang, with the addition of appropriate design cues.

    It’s also very low for an SUV/Crossover.

  2. Mike

    It would help if the Mustang E looked like a Mustang! Just not a very attractive vehicle, IMHO:)


    I applaud the use of LFP cells. The next hurdle is becoming price competitive with Tesla. Since Ford cannot further lower MSRP, how about offering 0% financing for 72 months on Mach E? This would make trading in older models more compelling for 2021-2022 owners as well as for new buyers.


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