With the paint barely dry Ford has already announced price cuts for its new all-electric Mustang Mach-E SUV.
The cuts come in the face of increasing competition in the premium EV market, Ford Australia says.
They will see the cost of the entry Select model fall from $79,990 to $72,990 — a drop of $7000.
Buyers who have placed orders for the car will share in the windfall.
Ford Australia’s Andrew Birkic said the price cuts are a major positive for customers and demonstrate a commitment to delivering the best products and great value to customers.
“As the EV market continues to evolve, we are responding to it,” he said.
Even so, Mach-E is still $5800 more expensive than its main competitor the Tesla Model Y.
Premium drops $4675 to $86,990 while top of the range GT is $2675 cheaper at $104,990 (not much saving there).
All these prices are manufacturer list prices and do not include on-road costs.
First deliveries of Mach-E are due by the end of the month.
Although the five-seat SUV shares a name with Ford’s famous pony car, that’s where any similarities end.
Mustang Mach-E is a completely different vehicle that sits on Ford’s Global Electrified 1 (GE1) platform.
With both the price of Select and Premium models now falling below the LCT threshold, there are now two Mach-E variants that qualify for the Electric Car Discount Policy.
This exempts the car from Fringe Benefits Tax (FBT) when purchased via novated lease.
Rear-wheel drive Select features a 71kWh battery and single electric motor that delivers 198kW and 430Nm, with a range of up to 470km (WLTP).
The mid-spec rear-drive Premium, with a larger 91kWh battery and single electric motor boasts 216kW and 430Nm, with a range of up to 600km (WLTP).
The performance-focused, all-wheel drive GT, also with a 91kWh battery but two electric motors, one for each axle, puts out 358kW and 860Nm, and has a range of up to 490km (WLTP).
CHECKOUT: Mustang Mach-E — the price and the pain
CHECKOUT: Mustang Mach-E: Ford opens the books