The Ford Mustang Mach-E just got a significant price bump. The popular Ford F-150 Lightning electric pickup truck just got a price hike as well due to the price of battery materials. Unfortunately, both Blue Oval EVs are more expensive than ever before. The most expensive Mustang Mach-E configuration with extended range and GT Performance packages has a starting price of over $77,000.
The 2023 Ford Mustang Mach-E GT costs over $77,195 when fully-loaded
The 2023 Ford Mustang Mach-E GT is the final Mustang Mach-E trim. It’s the quickest Mach-E trim as well. Buyers can add the extended range battery and GT Performance package for a grand total of $77,195 after a $1,300 destination fee.
The Mach-E GT is the electric SUV’s full potential unleashed. It can go from 0-60 miles per hour in 3.5 seconds. The 2022 model year makes 480 horsepower and a whopping 600 lb-ft of torque, so expect as much power from the 2023 model. Extended Range battery models get 290 miles of driving range.
In terms of performance, the Mach-E GT certainly ticks all the boxes for an exciting practical EV, but what about affordability? The Mach-E GT with Extended Range and Performance packages is reserved for drivers that can spend close to $80K on an electric SUV. It’s the best model by far because it exhibits classic Mustang muscle car performance, but few average consumers will choose this option over more affordable models.
How much does the 2023 Ford Mustang Mach-E cost?
The Mach-E experienced price hikes at multiple trim levels and configurations. The base model Mach-E Select now starts at $48,195 (after destination charges). The Premium trim now starts at $56,275 (after destination charges). The California Route 1 and GT trims didn’t see changes, but all-wheel drive and extended range configurations got serious price bumps.
The biggest price changes are an $8,675 price increase to $64,875 for the Premium RWD Extended Range model and an $8,675 increase to $67,575 for the Premium AWD Extended Range model.
The Inflation Reduction Act of 2022 changed legislation, and many electric vehicles are no longer eligible for the federal electric vehicle tax incentive. According to FuelEconomy.Gov, the incentive may not apply to 2023 Mustang Mach-E models. That means that there could be no relief from the price hike.
Some buyers ended up paying $36,395 for their 2022 Mustang Mach-E Select models (after redeeming their tax credit). Now, buyers may have to pay over $10K more for the new iteration of the electric SUV.
Should you buy the Ford Mustang Mach-E?
The 2023 Ford Mustang Mach-E is much more expensive than the first model year. Now that it may not be eligible for the federal electric vehicle tax incentive, it’s even less desirable for the average consumer. The Mach-E isn’t for everyone, but it does provide great value in terms of practicality and performance specs.
Read more about the Ford Mustang Mach-E in the next article below.