With demand for all-electric vehicles lagging behind expectations in the latter part of 2023 – a trend that can largely be attributed to high prices – planned 2024 Ford F-150 Lightning production at the Rouge Electric Vehicle Center has been cut in half, while both the EV pickup and the Ford Mustang Mach-E are now eligible for X-Plan pricing – which wasn’t the case before. Regardless, even with Mach-E inventory dropping and dealers now being allowed to advertise the EV crossover at prices below MSRP, there’s much work to be done to entice customers to purchase those models. Ford has long been working to make the process of purchasing an EV simpler as well, and now, those efforts will continue with updated invoice pricing that’s set to arrive next month, according to CarsDirect.
According to a recent dealer bulletin, Ford will change the way that it calculates EV invoice prices starting February 9th. Starting on that specific date, Ford will include dealer holdback on all of its F-150 Lightning, Mustang Mach-E, and E-Transit invoices, which is essentially a discount that gives dealers the ability to discount models on their lots.
The percentages that apply to each of these models does vary slightly, however. While the Mustang Mach-E is getting a dealer holdback that’s equivalent to two percent of the model’s MSRP, the F-150 Lightning and E-Transit will get a larger four percent holdback. Previously, this wasn’t the case for any of these models, as the Mach-E utilizes an “e-invoice” that included a one percent delivery allowance, one percent ad convenance allowance, and two percent for dealers that remained “EV Certified.”
Interestingly, this move does signal a shift away from CEO Jim Farley’s desire to switch to a fixed-price model for the company’s EVs, which is currently utilized by companies like Tesla and Rivian. Instead, it gives shoppers the ability to potentially negotiate a better price, and is undoubtedly being driven by decreased demand for EVs in general.