Posted on 05/02/2023 12:38:08 PM PDT by Red Badger
WASHINGTON, May 2 (Reuters) - Ford Motor Co (F.N) said on Tuesday it is cutting prices on its Mustang Mach-E electric vehicle and reopening orders after a series of price cuts by rival Tesla Inc (TSLA.O), the second time it has reduced prices this year.
The No. 2 U.S. automaker said it is also increasing the range for standard-range battery models as it increases production in the second half of the year.
Ford said it is cutting most Mach-E prices by $3,000 or $4,000 depending on the version or by as much as 7.8%. The price of the Mach-E Premium rear-wheel drive version is dropping from $50,995 to $46,995.
Ford shares were down 2.7% at $11.73 at midday on Tuesday.
Last month, the federal EV tax credit for the Mach-E fell by half to $3,750 from $7,500 after new battery sourcing requirements took effect.
Mustang Mach-E U.S. sales fell 20% in the first three months of the year.
(Excerpt) Read more at reuters.com ...
Aren’t they already losing money on EVs?
Nobody wants to pay 50 gs for a Mock Mustang?
It’s a ‘fire sale’................SELL THEM OR YOU’RE FIRED!................😜
Saw one in a parking lot this weekend. Looked like a Mustang made by Tesla.
So now Ford will lose more $ on each one?
That is one butt ugly pizza chit.
Teslas look beatter
I drive a real Mustang. With a real engine...................
“The price of the Mach-E Premium rear-wheel drive version is dropping from $50,995 to $46,995.”
Well that’s mighty nice of ‘em.........I’m sure they’ll make up the difference on the back end with the enevitable battery replacement.
Driver to girl he wants to impress on date: “Whaddya think?”
Girl: So this is one they cut the price on. You were able to better afford it after that, right?”
Driver: Yeah.
Not quite sure what Ford is doing on this one. Firstly if I was going to take the EV plunge, why would I get a knock off Tesla? Secondly if I wanted a Mustang why would I buy an electric Mazda crossover with a Mustang badge?
Catalyst: the tax credit for that car dropped by $3,750. Result: Ford dropped the price $3K to $4K.
If not for the EV tax credit that a lot of EV owners brag about the EV owners wouldn't have paid as much up front to begin with.
We keep hearing people say that demand for EV's is through the roof, yet they're cutting prices, sales are dropping, and some companies are closing (Lordstwown).
I still hardly see any on the road.
I can see a buyer showing it off to his friends: “I said it’s a sports car! Stop calling it a crossover!”
“Aren’t they already losing money on EVs?”
If you drive by almost any car lot, you’re going to see lots of new cars. The problem is twofold. During the plandemic the prices of new cars MSRP rose somewhere between ten and 25 percent. Some special models went up even more. The government poured billions of dollars into the economy so people bought many more cars and pricier cars than they would have if they were paying the freight themselves. Then, all at once, the government had a brown pants moment realizing they had done some serious damage to the economy, so they raised interest rates and stopped the free money. Suddenly people couldn’t afford those pricey ridiculous two seat cars that in some cases were the second or third car. So, those cars came back on the market at a huge loss because the government had raised rates AND the banks required a larger cash down. Now the cars are on the lots and the dealers have something called a “plan.” A plan is how much of a loan they are floating. It’s not based off the number of cars on the lot. The plan is simply how much money the dealer is making payments on. The idea was not to help the dealer, but to provide a constant supply of open spaces to put NEW cars. Now the dealers MUST move the inventory before the bank comes along and says, “the cars on the lot no longer can cover the cost of the loan. Instead, of, say one million dollars, the cars you have are worth seven-hundred thousand. You must pay us three hundred thousand in cash.” Everyone in the car game is in serious trouble. Wait a few months to buy a freshly returned “new” car.
I see lots of Teslas on the roads here in Florida panhandle...................
The only EV’s I see are Teslas. I’ve seen one Rivian, and two Mustangs this year. And I drive on a busy interstate every day.
BTW, heading to the panhandle this summer for vacation. My favorite place!
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