Ford to cut Mustang Mach-E prices, following Tesla lead
Ford Motor Co on Monday cut prices of its electric crossover SUV Mustang Mach-E by as much as $5,900 per vehicle, weeks after rival Tesla Inc slashed prices globally on its electric vehicles by as much as 20 per cent.
Shares of Ford were down 1.5 per cent in early trading. Tesla was flat.
The move comes as electric vehicle manufacturers are feeling pressure from Tesla’s price cut to respond.
“Ford just cut Mustang EV prices in response to Tesla’s price cut. Mini price war about to begin with EVs in the US with Tesla’s shot across the bow on price cuts,” said Dan Ives, an analyst at Wedbush Securities, on Twitter.
