The demand for electric vehicles is at an all-time high. Combining a unique iconic design and cutting-edge technology, the 2023 Ford Mustang Mach-E is a desirable option for those needing a practical and eco-friendly vehicle. It has been so desirable that the Mustang Mach-E has scaled production and reduced its MSRP. On the other hand, a good sign toward sustainable transportation that’s more affordable and accessible to a broader base of car owners. 

2023 Ford Mustang Mach-E specifications

There’s a good reason the 2023 Mustang Mach-E became Consumer Report’s top EV pick of 2022. The car has updated software, a new user interface, and two games aboard the SYNC4A infotainment unit. Further, you’ll experience BlueCruise 1.2 equipped with three features: Lane Change Assist, Predictive Speed Assist, and In-Lane Repositioning.

The Mach-E comes in two specific models, one with a 70 kWh Standard-Range (SR) with an estimated range of 211 miles and a 91 kWh Extended-Range (ER) battery with an estimated 270 miles of range.

It also comes with a slew of powertrains options with two single-motor options capable of 266 hp with 317 lb-ft of torque and another capable of 290 hp with 317 lb-ft of torque. Beyond these options are four dual-motor powertrain options. The first gets 266 hp with 428 lb-ft of torque, the second 346 hp with 428 lb-ft of torque, the third 480 hp with 600 lb-ft of torque, and the fourth option gets 480 hp with 634 lb-ft of torque.

Mustang Mach-E: increased production and reduced MSRP

The 2023 Ford Mustang Mach-E is one of the most highly anticipated and in-demand electric SUVs in the market, and for a good reason. Ford announced it would significantly increase production for the 2023 Mustang Mach-E from the usual 78,000 in 2022 to 130,000 units in 2023. 

Ford also announced the car’s MSRP reduction, following Tesla’s leading price reduction. The entry trim of the Mustang Mach-E decreases by $600 to $900, while models with premium packages and long-range batteries receive a $3,680 to $5,900 decrease. 

According to Marin Gjaja, Ford’s Chief Customer Officer, Ford made these crucial moves for multiple reasons. One was to make the eSUVs more accessible to its customers and shorten the current 150 days customer wait time. It’s important for Ford to maintain a competitive edge in the marketplace and take advantage of the EV tax credits under the Inflation Reduction Act, valued at $7,500, to create a unique ownership experience. 

Thanks to these price reductions and scaled production, a new 2023 Mustang Mach-E will cost you between $46,000 to $64,000, depending on the specific model. Better still, if you had paid for your car before the price reduction, you also qualify for a refund. 

First, it was Tesla with the price reductions 

Tesla, Ford’s primary competitor in the EV market, preceded Ford in announcing a 6% to 20% cost reduction on model Y and model 3 cars in the U.S. and Europe. After the price cuts, the Model Y will now cost you $52,990, down from $65,990. On the other hand, the Model 3 will cost you $43,490, down from $46,990. 

The potential reasons Tesla reduced its select EVs include a variety of reasons. Falling prices in the supply chain and logistics could be a reason for the decrease. It could also be to create demand and boost sales since the automaker performed less than impressive in 2022. According to S&G Global Mobility, Tesla’s market share dropped to 65% of new EVs as of September 2022, down from 79% in 2020.

The threat of strengthening competition in a less-than-favorable economic condition could also be a reason for the decrease in prices. According to U.S. News, it could just be a reaction to inflation.

Tesla delivered 1.31 million vehicles in 2022, against a projected 1.4 million to hit a 50% growth. However, according to Electrek, Tesla is experiencing “unprecedented demand,” with its stores hitting sales records and inventory moving quickly.