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There’s good news and bad news about one electric SUV. The good news for Ford Mustang Mach-E fans is that prices are dropping. It could be easier to get behind the wheel. But the bad news is that the 2023 Ford Mustang Mach-E is struggling against declining sales. 

How much does a 2023 Ford Mustang Mach-E cost? 

You can get started with the 2023 Ford Mustang Mach-E for $39,895. That’s $3,100 cheaper than the previous MSRP of $42,995 in May. However, the $1,800 destination fee increases the starting price to $41,695. 

Unfortunately, the Mustang Mach-E no longer qualifies for the $7,500 federal tax credit or the $3,750 tax credit. But perhaps some dealerships will offer incentives to get models moving. 

The first discount is for the entry-level Mach-E Select RWD model. But there are bigger price cuts on more expensive models. 

For example, the Mach-E Premium AWD model now starts at $48,895, so it has a $8,100 price cut. The Mach-E GT Performance Edition got a $7,600 price cut and now starts at $57,395. Every model in the lineup now starts under $60,000. 

The 2023 Ford Mustang Mach-E driving at night
2023 Ford Mustang Mach-E | Ford

The Mustang Mach-E sold 39,458 units in 2022 and 40,771 models in 2023. That’s an increase of $1,313. That’s better than decreasing sales, but it’s not a slam-dunk improvement. 

Also, the Mach-E seemed to hit a brick wall in January. It only sold 1,295 models in January 2024, which is a 50% year-over-year decrease and a 75% sales decrease compared to December 2023. 

The sales decrease seems to coincide with the lack of tax credit eligibility in January. But lowering the cost overall could help put the Mach-E back on track. 

The 2024 Tesla Model Y is one of the Mach-E’s largest rivals and it starts at $42,990. The $1,390 destination fee brings the starting price up to $44,380. But the Model Y still qualifies for the $7,500 tax credit. 

Plus, the Model Y sold 284,498 models in America in 2023. The sales figures for January in 2024 are currently elusive, but it probably moved more than 1,295 models. Stay tuned to see if the Ford Mustang Mach-E can turn things around.