Ford is moving inventory after slashing prices by up to $8,100 on its best-selling electric SUV, the Mustang Mach-E, last month. A recent Cloud Theory report reveals that the price cuts are working as buyers look for more affordable EVs.
Good news: Ford Mustang Mach-E price cuts are working
Ford cut Mustang Mach-E prices by up to $8,100 in February with new finance and lease incentives. New data shows sales are up while inventory is finally dwindling.
The move came after Mach-E sales fell over 50% in January, with only 1,295 units handed over. In February, sales of the electric SUV surged 64% year over year. However, Mach-E sales were down 20% through the first half of 2023 as Ford retooled its plant in Mexico, where the vehicle is assembled.
According to a recent report from data analytics firm Cloud Theory, the price reductions are working.
Ford Mustang Mach-E movement has been “dramatic and immediate,” according to the data analytics company. The weekly movement rose from around 300 to over 1,000, even reaching over 1,800 in early March.
Ford Mustang Mach-E (Source: Ford)
Nearly a month after the price cuts took effect, Mach-E tripled its vehicle-movement share in the EV market, hitting 13.3% from 5.2%.
Cloud Theory highlights that despite reports of cooling demand, EVs are still sought after for the right price.
2023 Ford Mustang Mach-E (Source: Ford)
The bad news
Although the lower prices are working to move inventory, can Ford afford to keep prices lower?
Ford’s Model e electric vehicle unit lost $4.7 billion last year. The company said the rising losses were due to “extremely competitive pricing” and new EV investments.
EV volume was up 20% last year, but it was mainly driven by the F-150 Lightning. Ford is now trimming its workforce by one-third at its Rouge EV plant, where the electric pickup is built, citing slower-than-expected demand.
Ford F-150 Lightning production (Source: Ford)
Despite rising Mach-E sales, Rick Wainschel, vice president of data and analytics at Cloud Theory, told Automotive News there are some “dark clouds” lingering.
Ford’s Mach-E turn rate continues to trail behind the industry average. Even with the price cuts, the Mach-E’s turn rate reached 33%. Although that’s up from 7% before the reductions, it’s still behind the average of 45%.
According to its data, Ford had around 18,000 Mach-E’s in inventory at the end of March. “It’s better, and it’s climbing closer to a more normal rate, but it’s still below the total,” Wainschel explained.
Ford Mustang Mach-E (Source: Ford)
At least one dealer is seeing the results. Doug North, who owns North Brothers Ford in Westland, Michigan, said customers who previously saw EVs as unaffordable are “now coming in and looking at them — and buying.”
Although North considered slowing Mach-E allocation, the price cuts “really changed it quickly.” North explained, “It’s working very well.”
Shifting to more affordable EVs
Meanwhile, Ford is shifting plans from large to smaller, more affordable EVs. CEO Jim Farley said the automaker is developing a low-cost EV platform to keep up with Tesla and low-cost Chinese automakers.
Farley said the company assembled a “skunk works” team with some of the best EV engineers. The team is led by Alan Clarke, a top engineer on Tesla’s Model Y and Model 3.
CFO John Lawler reaffirmed these plans at the BofA Auto Summit last week, saying, “The game will not be fought and won with larger vehicles,” smaller, low-cost ones will win in the end.
All-electric Ford Explorer (Source: Ford)
According to Lawler, the new platform will have several “top hats” for new, low-cost electric SUVs, trucks, sedans, and vans.
A recent Bloomberg Businessweek report revealed the first models to launch on the platform are expected to be a smaller, cheaper, pickup and SUV. The first model is expected to begin rolling out in 2026 with a starting price of around $25,000.
2023 Ford Mustang Mach-E Trim
Previous MSRP
New Starting price
Difference
Select RWD
$42,995
$39,895
-$3,100
Select AWD
$45,995
$42,895
-$3,100
Premium RWD
$46,995
$42,895
-$4,100
Premium AWD
$49,995
$45,895
-$4,100
Premium RWD (Extended Range)
$53,995
$45,895
-$8,100
Premium AWD (Extended Range)
$56,995
$48,895
-$8,100
California Route 1 AWD
$56,995
$48,895
-$8,100
GT
$59,995
$52,395
-$7,600
GT (Performance Edition)
$64,995
$57,395
-$7,600
2023 Ford Mustang Mach-E prices (Not including $1,800 destination fee)
Ford’s low-cost EV platform is designed to rival Tesla and low-cost Chinese automakers like BYD. Farley called BYD’s new Seagull, starting at $9,700 (69,800 yuan), “pretty damn good,” as he warned industry peers.
If you’re looking to get a steal on the 2023 Ford Mustang Mach-E while it’s still in stock, we can help you get started today. You can use our link to find deals on the Ford Mustang Mach-E at a dealer near you.
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Following a lawsuit brought against the California Air Resources Board (CARB) by major heavy truck manufacturers over California’s emissions requirements, CARB has struck back with fresh lawsuit of its own alleging that the manufacturers violated the terms of the 2023 Clean Truck Partnership agreement to sell cleaner vehicles.
Daimler Truck North America, International Motors, Paccar and Volvo Group North America sued the California Air Resources Board in federal court this past August, seeking to invalidate the Clean Truck Partnership emissions reduction deal they signed with the state in 2023 to move away from traditional trucks and toward zero-emission vehicles (ZEVs). The main point of the lawsuit was that, because the incoming Trump Administration rolled back Environmental Protection Agency (EPA) policies that had previously given individual states the right to set their own environmental and emissions laws, the truck makers shouldn’t have to honor the deals signed with individual states.
“Plaintiffs are caught in the crossfire: California demands that OEMs follow preempted laws; the United States maintains such laws are illegal and orders OEMs to disregard them,” the lawsuit reads. “Accordingly, Plaintiff OEMs file this lawsuit to clarify their legal obligations under federal and state law and to enjoin California from enforcing standards preempted by federal law.”
After several weeks of waiting for a response, we finally have one: CARB is suing the OEMs right back, claiming that the initial suit proves the signing manufacturers, “(have) unambiguously stated that they do not intend to comply.”
The agency is asking the court to compel the truck companies to perform on their 2023 obligations or, failing that, to allow CARB to rescind the contract and recover its costs. A hearing on the truck makers’ request for a preliminary injunction was held Friday, with another court date set for November 21, when CARB will seek to dismiss the case brought forth by the truck brands. The outcome of these cases could shape how state and federal government agencies cooperation on emissions rules in the future.
You can read the full 22-page lawsuit, below, then let us know what you think of CARB’s response (and their chances of succeeding) in the comments.
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Starting this month, parking lots in South Korea with more than 80 spaces will be required to install solar canopies and carports. But, unlike similar laws that have been proposed in the US, this new law doesn’t just apply to new construction – existing lots will have to comply as well!
South Korea’s Ministry of Trade, Industry and Energy announced in August that it has prepared an amendment to the Enforcement Decree of the Act on the Promotion of the Development, Use, and Diffusion of New and Renewable Energy to the effect that all publicly- and privately-owned parking lots in the Asian country with room for more than 80 vehicles will be compelled to add solar panels to their lots in a move designed to proactively expand renewable energy and create more solar and construction jobs.
In addition to creating jobs and working to stabilize the local grid with more renewable energy, the proposed solar canopies will offer a number of practical, day-to-day benefits for Korean drivers, as well.
The shaded structures will protect vehicles from heavy rain, snow, and the blistering summer sun — keeping interiors cooler, extending the life of plastics and upholstery, and even helping to preserve battery range in EVs and PHEVs by reducing their AC loads (and, of course, provide charging while the cars are parked).
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To their credit, Ministry officials absolutely get it. “Through this mandatory installation,” one unnamed official told Asia Business Daily, “we expect to expand the distribution of eco-friendly renewable energy generation facilities while providing tangible benefits to the public. By utilizing idle land such as parking lots, we can maximize land use efficiency. In addition, installing canopy-type solar panels can provide shade underneath, offering noticeable comfort to people using parking lots during hot weather.”
South Korea is proving that an idea like is practical. Here in the US, we’re proving that out, too – the Northwest Fire District in Arizona partnered with Standard Solar to build a conceptually similar, 657 kW solar carport system across 12 parking lots (shown, above) that delivers more than 1.23 million kWh of clean, emissions-free power annually and offsets the equivalent of 185,000 vehicles’ worth of harmful carbon emissions.
That’s just Arizona. In New York, a new initiative to help expand solar into parking lots has more than doubled commercially zoned land where EV charging stations can be sited, “freeing up” an additional 400 million square feet of space throughout the city.
What do you guys think – would something like this work in the US, or are we too far gone down the sophomoric, pseudo-libertarian rabbit hole to ever dig our way out? Let us know your take in the comments.
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Autonomous taxi company Waymo faced scrutiny last month when a car was caught on video illegally passing a stopped school bus that was letting children off in Atlanta. Now, the National Highway Traffic Safety Administration (NHTSA) is looking into it.
Georgia State Representative Clint Crowe seemed stunned after being presented with video of a Waymo driverless car illegally passing a stopped school bus on Briarcliff Road in Atlanta last month. “I’m a big fan of new technologies and emerging technologies and I think that driverless cars are going to become more prevalent,” he told local NBC news affiliate WBIR. “But we got [sic] to think about how they’re going to comply with the law.”
WBIR | Waymo illegally passes school bus
Crowe co-sponsored Addy’s Law in 2024. The legislation was named after 8-year-old Addy Pierce, who was killed in Henry County after being struck while crossing the street to get to her bus. The law stiffened penalties for illegally passing a stopped school bus, carrying penalties of up to $1,000 in fines and even jail time.
According to Crowe, those rules still apply to autonomous vehicles. “The majority of our traffic laws, the penalty is usually a fine and or driver’s license suspension. These cars don’t have a driver, so they don’t have a driver’s license and so we’re really going to have to rethink who’s the responsible party, who’s going to be responsible for being in control of that vehicle and who’s going to be the operator of that vehicle,” he said.
Crowe believes manufacturers should face stronger consequences when their vehicles break the law, saying the $1,000 fine doesn’t go far enough.
Now, thanks to pressure from social media and politicians like Crowe and Geoirgia State Senator Rick Williams, who helped co-author Addy’s Law, it seems like NHTSA is getting involved.
Prompted by media reports, the US Department of Transportation issued an investigation regarding Waymo’s AV, which states that, “the AV initially stopped, but then drove around the front of the bus by briefly turning right to avoid running into the bus’s right front end, then turning left to pass in front of the bus, and then turning further left and driving down the roadway past the entire left side of the bus. During this maneuver, the Waymo AV passed the bus’s extended crossing control arm near disembarking students (on the bus’s right side) and passed the extended stop arm on the bus’s left side.”
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While it remains to be seen how much work NHTSA is actually doing amid the ongoing shutdown of the Federal government, it’s worth noting that, regardless of the outcome, Senator Williams said he plans to introduce new legislation that would hold driverless car companies accountable with higher fines if their vehicles violate traffic laws. If that passes in Georgia, it could set the stage for politicians across the US and even abroad to use similar fins to halt the spread of autonomous taxis in their states.
We’re typically pretty tech- and autonomous-forward here, but as a parent I would absolutely lose my s*** if a Waymo or Robotaxi or whatever else ran over my kid. but I’ve also seen plenty of human drivers blow past a school bus with a knee on the steering wheel and both eyes glued firmly to their phones. Let us know who you’d be more ready to trust with your kids’ lives in the comments.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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