But there's a caveat.
If you're in the market for a well-priced and practical electric crossover, you could do a lot worse than the Ford Mustang Mach-E. Dearborn's much-loved EV has garnered plenty of praise since it was first introduced, and it remains a hit with consumers across America. For 2023, the Blue Oval has bestowed several appealing updates upon the Mach-E but, unfortunately, this has come with a price increase.
As a result, the entry-level model commands $46,895, placing it out of reach for many. But according to a dealer bulletin seen by CarsDirect, potential owners may have a $2,000 incentive coming their way. That's a substantial chunk of change, but you best read the fine print before getting excited - there's a built-in provision.
The discount is only available if you elect to purchase the 23 Mustang Mach-E through Ford Options Plan, a balloon financing scheme. Even then, the $2,000 Ford Options Retail Bonus Cash incentive is only available in certain states such as California, New York, Philadelphia, and Seattle. In other regions, don't expect to scratch more than $500 off the MSRP.
Interestingly, CarsDirect notes these deductions have nothing to do with the respective states but have been predetermined by Ford itself. Reportedly, the deductions are the same as those applied to 2022 models, but the automaker stopped taking orders for '22 examples as far back as April.
Due to the bizarre state in which the industry finds itself, it's surprising to see an automaker offering a discount of any sort, particularly on such a popular vehicle. Unfortunately, those who favor the more traditional purchasing methods may be left out of the savings.
The downside of paying cash, in this instance, is that you'll miss out on the $2,000 discount. However, it can make sense if you look at it from a different perspective. While the Mach-E is covered by the new Inflation Reduction Act, Ford Credit reportedly does not pass it down to the consumer as lease cash. Ford Options Plan, on the other hand, gives the $2,000 directly to the customer. The offer is available until October 3.
So it all depends on your preferred method of payment and what suits your budget and lifestyle. Based on the strong demand, we don't expect Ford to be slashing the price of the Mach-E anytime soon. In fact, there's a very good chance the electric crossover could enjoy greater popularity this year, thanks to the various updates.
The 2023 model debuts new exterior color options. Every model across the range ships standard with Ford's Co-Pilot360 Driver Assist Technology, while the range-topping GT models gain a panoramic glass roof. Aside from that, the Premium trim level (equipped with the Extended Range battery) gets a 13-mile increase in its range.
There's also a new exterior package, curiously named Night Pony. For an additional $800, buyers net themselves black-painted wheels and various black-painted exterior bits.