Ford U.K. Hikes Mach-E Prices Massively, Will the U.S. Follow Suit?
The Ford Mustang Mach-E has been selling like hotcakes since its release. Evidently, Ford’s decision to give their electric crossover the Mustang namesake paid off nicely. However, just like many manufacturers are facing, Ford is running into supply-chain issues and increases in material costs. Unfortunately, Ford is passing these price increases along to the customer. Prices in the U.K. just took a massive upward leap. Will the Mach-E prices in the U.S. match these increases?
One Mach-E model saw a price increase of nearly $10,000
According to InsideEVs, the entirety of the Mach-E lineup saw a price increase in the UK thanks to these shortages and material cost increases. Though the U.S. recently got a price increase, too, the U.K. price increases are eye-watering.
Surprisingly, the model least affected by this price increase is the top-trim Mach-E GT. Its overall price increased by just a hair over $1,000, going from $87,795 to $88,847.
The Standard Range AWD (all-wheel drive) model is on the opposite side of that spectrum. It saw a massive increase from $60,924 to $70,654 for a total increase of $9,730.
The Extended Range RWD model saw an increase of nearly $3,000, raising in price from $65,273 to $68,016. Additionally, the Extended Range AWD model increased by nearly $6,000 from $74,481 to $80,292.
Despite all of these price hikes, Ford is still experiencing high demand for the Mach-E. So much so, in fact, that the 2022 Mustang Mach-E is sold out entirely in the US market. That begs the question, though. Will Ford reflect similar price increases for the 2023 model year?
Will U.S. Prices get another jump?
According to Ford Authority, the price of the Mustang Mach-E took a decent upward leap in the U.S. back in February. However, the Russian invasion of Ukraine has effectively stopped the exportation of Neon, an essential element in the creation of silicon semiconductor chips.
Furthermore, Forbes reports that the world’s largest seaport is currently shut down due to the city of Shanghai, China locking down amid rising Covid cases. For the past three weeks, the city populated by 25 million people has been strictly placed under lockdown by the Chinese government.
Only time will tell if these issues will cause another price increase. However, it seems inevitable that they will both increase shortages in the supply chain. So, it’s safe to assume, at the very least, the wait for new vehicles will only be extended from here forward. So, while it may or may not cause another increase in the price of the Mach-E and other new vehicles in the US, it will likely continue to ravage the used car market.
For now, the best we can do is cross our fingers and hope that the price of the all-electric Mustang will stay where it’s at on our side of the pond.