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    Two Visions of America by Don Jans

    EV Competition Finally Produces Results: Ford Cuts Prices on Mustang Mach-E, after Tesla, Kia, Hyundai, Chevrolet, Nissan Cut Prices on their EVs

    By Wolf Richter

    Now the question is: will anyone make money on their EVs. From Wolf Richter at wolfstreet.com:

    EVs now start at $27,000, about $20,000 below the average new-vehicle transaction price. That’s a good thing all around. Except for stock prices.

    Ford announced today that it cut the MSRP of its 2023-model-year Mustang Mach-E, depending on model, by a range from $600 to $5,900, and its extended-battery option by $1,600. This brings the low end of the Mach-E to $45,995, which is just below the average transaction price for all new vehicles of $46,400.

    Ford Mustang Mach E 2021 Munich auto show

    Ford is not cutting prices, and thereby its profit margins, out of the goodness of its heart, but because it’s forced to by competition – and it’s lagging behind. Ford admitted as much: It said the price cuts are designed to keep the Mach-E “competitive in the marketplace.” It said, “We are not going to cede ground to anyone.” The Mach-E was the third-best-selling EV in the US in 2022, after Tesla’s Model Y, and Tesla’s Model 3.

    Tesla has gone on a big round of price cuts in January in the US, including for its Model Y, a crossover SUV that competes directly with the Mach-E. Chevrolet cut the prices of its mass-produced EVs, the BOLT and the BOLT EUV. Kia and Hyundai also cut prices on their electric crossover models. Nissan cut the price of its EV.

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    The views and opinions expressed in this commentary are those of the author and do not reflect the official position of Citizens Journal


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