CHARLOTTE, N.C. — Ford is cutting the price of its electric Mustang Mach-E crossover and it's pointing to the need to remain competitive after Tesla reduced prices for some of its electric vehicles.
According to CNBC, the Mach-E, which is comparable to Tesla's Model Y, will now cost about $4500 less, on average, depending on the model. As far as the Model Y, Tesla cut the price last month by up to $13,000.
The base model of Ford’s Mach-E will reportedly start at around $46,000 and can cost up to $64,000 for models with all of the bells and whistles and fancy interior and exterior options.
For some perspective and price comparison, Tesla's Model Y ranges anywhere from $53,500 to $57,000 and that's without any additional options selected.
It's important to note, with Ford cutting prices, the automaker will lose money on some versions of the Mach-E.
Contact Carolyn Bruck at cbruck@wcnc.com and follow her on Facebook, Twitter and Instagram.
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