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Ford Mustang Mach-E Demand Jumped After Price Cuts: Report

Aside from launching a new EV referral program in select markets recently, The Blue Oval also slashed Ford Mustang Mach-E prices dramatically back in February as inventory piled up. The EV crossover is also available with a variety of other incentives, including discounts of up to $3,000, special financing rates, and lease deals that make it as cheap to procure as its chief rival, the Tesla Model Y. It seems as if all of these incentives have paid off as well, as they helped spur a surge in customer demand for the Ford Mustang Mach-E over the past few weeks, according to a new report from Cloud Theory.

Ford Mustang Mach-E Weekly Sales Following February 2024 Price Cuts

Following Ford’s decision to slash Mach-E prices in late February, weekly sales increased dramatically, going from around 300 units per week up to 1,000 and even as high as 1,800, in fact, as of last week. Over the past 30 days, Ford Mustang Mach-E share in the EV segment nearly tripled as well, going from 5.2 percent all the way up to 13.3 percent.

This sharp uptick in Mach-E sales proves a generally held notion that many consumers aren’t necessarily opposed to owning an all-electric vehicle – at the right price, anyway. Historically speaking, the price disparity between traditional ICE vehicles and EVs has proven to be one of the biggest obstacles standing in the way of EV adoption, and this change proves that consumers are willing to buy them if they’re cheap enough for it to make sense.

Ford Mustang Mach-E Taiwan - Exterior 003 - Rear Three Quarters

Of course, there’s just one problem with this trend – Ford, and many other automakers, are still working to make EVs profitable at lower costs. The Blue Oval expects its second-generation models to turn a profit within 12 months of launch, but for now at least, its all-electric Model e division continues to post losses in that regard.

We’ll have more on the Mach-E soon, so be sure and subscribe to Ford Authority for more Mustang Mach-E news and comprehensive 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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Comments

  1. Jeff

    These oil barons want us to believe no one wants EVs, but the pricing is the biggest issue.

    Reply
  2. TIMOTHY

    You are right Jeff. I expect the oil companies and their supporters to come out with another spin on why you should not buy a BEV very soon.

    Reply
  3. Abe Pickens

    When these car makers come out with a sub $25k EV and charging infrastructure meets increasing flux of EV owners, it’s going to be good.

    For now, a used EV that qualifies for the $4k federal tax credits help and manufacturers should see the increase buyers there too.

    Reply

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