Is the 2023 Ford Mustang Mach-E Select Worth Over $48K?
The Ford Mustang Mach-E Select trim costs over $48,000 after a recent price hike. The Mach-E is now more expensive than many of its rivals. Is the 2023 Ford Mustang Mach-E Select worth the money, or should consumers consider an alternative compact electric SUV?
The 2023 Ford Mustang Mach-E Select costs over $48K after destination fees
The Ford Mustang Mach-E electric SUV is more expensive than ever before. Ford has increased the prices of both its electric vehicles due to battery supply costs. Electric vehicles use materials like lithium and cobalt. Supply will run low, and demand will increase as automakers develop new electric vehicle nameplates. This price hike could be the beginning of a series of price hikes for electric vehicles.
The 2022 Ford Mustang Mach-E Select started at $44,995 after a destination fee of $1,100. The 2023 Ford Mustang Mach-E Select starts at $48,195. That’s a price increase of $3,200. Some configurations will see price increases of over $8K for the 2023 model year.
Ford’s electric SUV was never the most affordable option, but it certainly isn’t now. The Mach-E became popular because it is quick and stylish. It comes in several impressive trim levels like the California Route 1 and GT Performance.
The Mach-E Select has an estimated 247 miles of driving range with rear-wheel drive. It makes 266 horsepower and 317 lb-ft of torque. The Mach-E is praised for its refined cabin and attractive exterior design. The federal electric vehicle tax incentive has been revised after the Inflation Reduction Act of 2022, so there’s no word on whether or not the 2023 model year will be eligible for a tax credit.
Is the Mustang Mach-E Select worth over $48K?
The Mustang Mach-E Select isn’t the best trim for the money, but the entry-level model will be popular among consumers as the most affordable trim. Is the Mach-E Select worth $48,195? The answer is entirely dependent on the vehicle’s tax credit eligibility.
The $7,500 incentive makes all the difference in choosing whether to pass on this electric SUV or buy it. If its price is $40,695 after the incentive, suddenly it’s a much more affordable EV and a much more attractive deal. The Mach-E Select’s starting price after its destination fee is too close to $50K for comfort.
Will anyone still buy the Mustang Mach-E?
Ford’s price bump isn’t enough to completely turn off consumers from buying the nameplate, but the automaker is entering dangerous territory. A few more price bumps and the entry-level Mach-E Select will be too expensive for many consumers, especially compared to alternatives like the Hyundai Ioniq 5.
Affordability was once a strong suit for the Blue Oval’s first electric SUV. The entry-level model is slipping out of the grasp of average Americans, but it’s still attainable. The Mach-E should still have a successful sales year despite its price bump. Car and Driver considers it one of the best electric SUVs on the market.
Read more about the Ford Mustang Mach-E electric SUV in the next article below.