Visitors inspect the electric Ford Mustang Mach-E on display at the launch event in Shanghai, China on April 13, 2021.
Yilei Sun | Reuters
ADVICE – Ford Motor is increasing the starting price of the electric Mustang Mach-E crossover by more than $8,000 on select models, as it reopens order banks for the 2023 model year.
Company on Thursday said The price increases — which range from $3,000 to $8,475, depending on model and battery — are due to “significantly increased material costs, ongoing strain on key supply chains and conditions.” rapidly evolving market.”
Mach-E is the latest electric vehicle to see price hikes due to the cost of raw materials for batteries electric cars more than doubled during the coronavirus pandemic.
Starting prices for the 2023 Mustang Mach-E will now range from around $47,000 to $70,000, up from about $44,000 to $62,000 for the 2022 version. Prices do not include taxes and shipping/delivery costs.
Ford earlier this month also raised the starting price of electric vehicles F-150 Lightning picks up from $6,000 to $8,500, depending on the model. The automaker cited similar reasons for those increases, particularly regarding raw materials such as lithium, cobalt and nickel used in vehicle batteries.
Other automakers include Synthetic engine, Rivian, Lucid and Tesla also significant price increase on their latest electric cars.
In addition to the new pricing, Ford says it has changed options and increased capabilities for some Mach-E models. It is also increasing the Mach-E’s shipping fee from $200 to $1,300 on all models.
Ford said the higher rates will go into effect on new orders starting Tuesday, when order banks reopen.
Customers who currently have an unscheduled 2022 model year order will receive a “separate offer” for converting to a 2023 vehicle, the company said. It is not yet clear what prices those customers will be offered.
