AUTO

2023 Ford Mustang Mach-E Price Dropped Under $40K, F-150 Lightning Discounted

February 29, 2024

In February 2024, Ford lowered the MSRP of the 2023 Ford Mustang Mach-E; some variants are now cheaper by up to $8,100.
F-150 Lightning buyers can now obtain significant bonus cash incentives on the Lariat, XLT, and Pro variants, up to $12,500.
These price drops and incentives are welcome news for EV adopters, as high vehicle prices continue to be a significant EV adoption barrier in 2024, despite the continued growth of the American EV revolution.

Ford is moving toward better affordability of new electric vehicles for car buyers, in a welcome move for U.S. EV adoption. Back in 2023, Ford had cut prices on its Mach-E. Now in February 2024, Ford has again lowered the MSRP of the 2023 Ford Mustang Mach-E. Certain Mach-E variants are now cheaper by as much as $8,100. Ford is also offering bonus cash incentives on variants of its innovative F-150 Lightning pickup truck.

The 2023 Ford Mustang Mach-E: An Exciting, Sleek, All-Electric SUV Crossover

The 2023 Ford Mustang Mach-E specs are impressive. The Ford Mustang Mach-E 0-60 speed is a blistering 3.8 seconds. The MPGe is up to 110 city / 96 highway. The range is 226 to 312 miles, and its fastest charging is about 202 miles in 45 minutes (80% charged).

The 2023 Ford Mustang Mach-E Select offers a variety of attractive options, starting at $39,895. One notable feature is a drainable frunk, making it easy to clean and empty when hauling groceries, ice, or muddy gear. The SYNC 4A touch screen offers easy functionality, with a size of 15.5 inches.

_{Watch this video to see real-world experiences from a Ford Mustang Mach-E owner.}

The 2023 Ford Mustang Mach-E Premium is an impressive machine for those buyers who want the best. It offers a great-sounding Bang & Olufsen sound system with 10 speakers. Drivers wanting extra range can upgrade to the extended range battery, offering 310 miles of EPA-estimated range. This trim level starts at $42,895.

The 2023 Ford Mustang Mach-E California Route 1, featuring 91 kilowatt-hours of usable battery capacity and 312 miles of range, now starts at $48,895, thanks to a $8,100 price cut.

The 2023 Ford Mustang Mach-E GT uses a primary electric motor on the rear axle and a secondary electric motor on the front axle, boosting performance. Its Performance Edition offers a variety of extras, including 20-inch machined-face aluminum wheels, performance gray ActiveX seating material, fixed-position front-row head restraints, and more. This trim’s price starts at $52,395.

The Innovative Ford F-150 Lightning All-Electric Pickup Truck

The F-150 Lightning pickup truck was the best-selling electric truck in 2023. The 2023 Ford F-150 Lightning all-electric truck is available in four trim levels: PRO, XLT, Lariat & Platinum. The 2024 version is available in Pro, XLT, Flash (a new trim level), Lariat, and Platinum.

The top-selling F-150 Lightning and F-150 Hybrid enjoyed record-breaking sales in 2023, with 55% and 41% growth, respectively. F-150 Lightning sales increased 74% in the fourth quarter of 2023.

F-150 Lightning buyers can obtain large bonus cash incentives on the Lariat, XLT, and Pro variants. The truck’s lower-priced variants do qualify for the federal tax credit. Customers can now get a $7,500 cash bonus on the XLT Extended Range, $5,000 on the Lariat Standard and Extended Range, and a huge $12,500 on the Platinum.

For those who prefer leasing, Ford is offering a $1,500 red carpet lease cash discount on the XLT, $5,000 on the Lariat, and $7,500 for the Platinum version. These discounts cannot be combined with the tax credits.

The F-150 Lightning was one of the first EVs to offer V2H (vehicle-to-home) technology. V2X, or vehicle-to-everything, is the umbrella term that includes all types of bidirectional charging, including vehicle-to-grid (V2G), which is revolutionizing America’s electric grid.

With Ford Intelligent Backup Power using V2H, backup power is at the ready in case of emergencies such as power blackouts. The F-150 Lightning automatically begins powering the owner’s home when connected to the 80-amp Ford Charge Station Pro. The F-150 Lightning with extended-range battery can power a home for up to three days, or even up to 10 if power usage is rationed to essential rooms or appliances such as a refrigerator.

Ford Intelligent Backup Power is provided to homeowners through Ford’s partnership with solar power company SunRun.

Ford’s Mach-E Federal EV Tax Credit Eligibility

Ford’s Mach-E lost its eligibility for the federal EV tax credit in 2024. Stricter Inflation Reduction Act (IRA) guidelines began on Jan. 1, 2024. The new IRA rules put more restrictions on components sourced from “foreign entities of concern,” including China.

The stricter regulations aim to reduce reliance on China for EV battery materials. Ford and other original equipment manufacturers like GM are making moves to produce EVs and EV batteries domestically, which would allow eligibility for the tax credit. GM recently made a $18.78 billion deal with LG Chem to supply GM with over 500,000 tons of cathode materials, enough to power 5 million electric vehicles.

Ford’s F-150 Lightning Truck Federal EV Tax Credit Eligibility

Ford’s F-150 Lightning was one of just 10 vehicles to qualify for the full 2024 $7,500 EV tax credit created by the Inflation Reduction Act. Many other EVs didn’t qualify because they aren’t manufactured in the U.S. or don’t use parts and battery materials produced in the U.S.

The tax credits apply to new EVs with sticker prices below $55,000 or trucks and SUVs priced under $80,000. Because of the $80K limit, some of the Lighting’s higher-priced trims don’t qualify for the credit.

Used Ford Mustang Mach-Es and F-150 Lightning Pickup Trucks Are Incredible Bargains in 2024

Used Ford Mustang Mach-E models and used F-150 Lightning pickup trucks are offered at lower prices than ever before. Recurrent, a leading provider of valuable reports for the used electric vehicles market, predicted that 2024’s used EV sales volume will increase by roughly 100% over 2022 and 40% over 2023.

According to iSeeCars.com, prices in the used electric vehicle market are dropping significantly, down 33.7% in late 2023. In 2024, several used EVs offer a low price of under $15,000, which is generally half of the upfront cost or less of a new EV. Popular used models include the Tesla Model 3 (2018 and older), the Nissan LEAF, Ford Focus, Volkswagen e-Golf, Kia Soul EV and BMW i3.

High Vehicle Prices Are a Significant EV Adoption Barrier in 2024

According to Cox Automotive, EV adoption in America will reach 10% in 2024. The EV revolution continues to grow steadily despite some news accounts about companies cutting back on EV plans, EV sales slumps, and dealerships complaining that they can’t sell enough EVs.

Three things that will drive mass EV adoption in America are lower vehicle prices, removing the EV charging barriers, and releasing massive education for buyers and dealers. Ford is to be commended for making EV adoption easier for buyers with these price cuts and incentives, addressing the high vehicle price barrier.

With price cuts and incentives such as these, as well as billions of dollars in federal funding to build out the nationwide EV charging network, EV adoption in America will be bolstered and encouraged. More and more American drivers will get to experience the many benefits of driving electric.

The benefits include significant cost savings through lower fuel costs, less maintenance, and more. Drivers can also feel good about doing their part to fight climate change, as EVs have zero emissions. Gas-powered, internal combustion engine vehicles are significant contributors to releasing greenhouse gasses into the atmosphere.