Ford cuts Mustang Mach-E prices, while Tesla's go up

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Ford said Tuesday it is cutting prices on its Mustang Mach-E electric vehicle and reopening orders after a series of price cuts by rival Tesla. The No. 2 U.S. automaker said it is also increasing the range for standard-range battery models – to 402 for RWD models; and 364 km for eAWD trims – as it increases production in the second half of the year.

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Ford said it is cutting most Mach-E prices by US$3,000 or US$4,000, depending on the version. Last month, the U.S. federal EV tax credit for the Mach-E fell in half, to US$3,750 from US$7,500 after new battery-sourcing requirements took effect.

[In Canada, the cuts to Mach-E prices range from $2,250 to $11,000, depending on trim, Automotive News reports. The entry-level Premium Standard-Range models saw their prices drop by $2,250 for the eAWD; and $3,000 for the RWD. The top-of-the-line California Route 1 and GT Performance Edition saw their MSRPs drop by $9,125 and $9,750, respectively. And the Premium Extended-Range trims saw the biggest drops in Canada, going from $80,245 for the eAWD to $69,995, a drop of $10,250; and from $77,955 to $66,995 for the RWD, a drop of $11,000. —Ed.]

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Mustang Mach-E U.S. sales fell 20 per cent in the first three months of the year.

On Monday, Tesla raised prices in a range of up to US$290 in Canada, China, Japan, and the United States, its website showed on Monday, after having slashed prices on its top-selling vehicles since the start of the year. In Canada specifically, Tesla raised prices by C$300 (US$222) for the performance versions of its Model 3 and Model Y.

The hike was Tesla’s first on its two top-selling models at the same time in multiple markets, although prices across its lineup are much lower than in January, after several rounds of discounts.