Hot on the heels of Tesla slashing Model 3 and Model Y prices, Ford is trimming the MSRP of its Mustang Mach-E. The Blue Oval announced new, lower prices across the entire model range today. However, according to the automaker's consumer-facing website, the price cut coincides with a $200 increase in the destination charge. While the new 2023 prices are cheaper, they are still higher than 2022's.

The 2023 Mustang Mach-E Select RWD Standard Range will now cost $47,495 (prices include the $1,500 destination charge), $700 cheaper than before, and that includes adjusting for the new fee. The top-tier GT Extended Range with the GT Performance Package now costs $71,495, $5,900 cheaper than before. However, that drops to $5,700 when factoring in the higher destination charge. You can see a full breakdown of the prices below:

Model New 2023 MSRP (Including $1,500 Destination) Previous 2023 MSRP (Including $1,300 Destination) 2022 MSRP (Including $1,100 Destination)
Select RWD Standard Range $47,495 $48,195 $44,995
Select eAWD Standard Range $50,495 $50,895 $47,695
Premium RWD Standard Range $52,495 $56,275 $50,200
Premium eAWD Standard Range $55,495 $58,975 $52,900
California Route 1 eAWD Extended Range $59,495 $64,275 $56,575
Premium RWD Extended Range $59,495 $64,875 $56,200
Premium eAWD Extended Range $62,495 $67,575 $58,900
GT Extended Range $65,495 $71,195 $63,095
GT Extended Range With GT Performance Package $71,495 $77,195 $69,095

Mach-E customers who are awaiting delivery will automatically receive the adjusted pricing. Ford will retroactively apply the new price to any customer vehicle with a sale date after January 1, 2023, who already has their cars. Ford will directly reach out to customers.

Ford also reduced the price of the Extended Range Battery option, which was $8,600. It's now $7,000, making upgrading to the bigger battery option a bit more affordable. The Nite Pony Appearance Package and GT Performance Pack prices remain unchanged at $800 and $6,000, respectively.

Ford's price cut comes as the automaker plans to ramp up Mach-E production in an effort to reduce wait times. The automaker has already procured the batteries and raw materials to scale up the production of every EV it builds. Ford Model E's Chief Customer Officer Marin Gjaja told our sibling site that the automaker planned to increase production to 130,000 Mach-E crossovers a year. That'd be a sizable increase over the 78,000 rolling off the assembly line today.

Gallery: 2023 Ford Mustang Mach-E

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