Ford follows Tesla price cuts by taking up to $5,900 off Mustang Mach-E

The largest price cut comes on the GT extended-range model, which will be $65,495, down from $71,395 including shipping.

The price of the California Route 1 electric all-wheel drive extended range version are falling by $5,580 to $59,495.

The Premium rear-wheel drive standard range trim is now $52,495 after a $3,980 cut, while the Premium eAWD standard range trim is $55,495 after $3,680 decrease.

The Select RWD standard range price is falling by $900 to $47,495, and the Select eAWD standard range price is dropping $600 to $50,495.

Ford said it’s decreasing the price to upgrade to an extended-range battery by $1,600 to $8,600. Prices for the Nite Pony appearance package and GT performance package are remaining the same.

Ford also said Mach-Es ordered between Jan. 30 and April 3 are eligible for special rates through Ford Credit as low as 5.34 percent.

The automaker said existing Mach-E customers awaiting delivery of their vehicle automatically will receive the adjusted price. It said it would reach out directly to customers who already have a Mach-E they bought this year.

Gjaja told Automotive News the Mach-E is not profitable, although the automaker was greatly benefiting from them by bringing in new customers to the brand and honing its software and battery technology through them.

“Mustang Mach-E is not profitable and it’s not going to be profitable, although by trim series it does vary a little bit,” he said. “We’d like to be more profitable, and we’re working furiously to get the costs out of these vehicles.”