Ford Mustang Mach-E prices slashed again, now from $64,990

May 31, 2024May 31, 2024 Toby Hagon 15331 Views ford, Mach-E, mustang mach-e

Ford has taken the axe to the prices of its Mustang Mach-E for the second time since it announced the model was coming to Australia in 2023.

The three-model line-up of the five-door performance crossover has had price cuts of between $7000 and $8000, representing drops of between 7 and 11 percent across the range.

The move comes a few weeks after Tesla implemented another price cut to the Model Y that dominates electric SUV sales in Australia.

While some brands have stated they will not chase Tesla on prices, it’s clear the EV sales leader is having a huge impact on prices at the volume end of the electric car segment.

The entry-level Mustang Mach-E Select scored an $8000 price drop, bringing it to $64,990, plus on-road costs.

It’s also way down on the $79,990 plus costs start price that graced the Mach-E Select – with a 198kW/430Nm motor driving the rear wheels – before it was adjusted prior to first customer deliveries in the second half of 2023.

Even with the price cut, the Mustang Mach-E Select is still around $10,000 more expensive than the Model Y Rear-Wheel Drive, once on-road costs are factored in.

But it brings the boldly-styled Mach-E closer to where it needs to be to compete for those looking to leverage government incentives, including the Fringe Benefits Tax (FBT) exemption for novated leases on electric vehicles priced below the luxury car tax threshold, which currently sits at $89,332.

Crucially, it also slides the Mustang Mach-E Premium – the mid-spec variant with more potent 216kW/430Nm outputs – well below that threshold (previously dealer delivery fees and colour options could kick it over). The Premium now sells from $79,990 plus on-roads, $7000 less than before.

Given that around 90 percent of all EV sales in this country are occurring below that LCT line, it’s a hugely important threshold.

*Ford Mustang Mach-E is now cheaper than ever following a price drop of up to $8000*

The top-of-the-range Mustang Mach-E GT – with two electric motors producing 358kW and 860Nm – now slides below $100K for the first time, at $97,990 plus on-road costs.

“These MLP (Manufacturer List Price) price reductions offer even greater value to our customers and it makes these great vehicles an option for more people,” said Andrew Birkic, President and CEO of Ford Australia and New Zealand when announcing the latest Mustang Mach-E price cuts.

An update to the Mustang Mach-E has been announced overseas, but it’s not yet known when that 2025 model will make its way to Australia.

Last year, Ford sold just 51 Mach-Es in the short time it was on sale, while for the first four months of 2024 it has sold just 223 Mach-Es.

The Model Y has shifted 8001 units in the first four months of this year, while the BYD Atto 3 has sold 2638.

Ford Mustang Mach-E prices 2023 price May 2024 price % change

Select RWD                                          $72,990            $64,990                       -11%
Premium RWD                                     $86,990            $79,990                       -8%
GT dual-motor                                   $104,990          $97,990                       -7%