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It’s doubtful that any American with an interest in cars doesn’t know about the Ford Mustang. However, like the newer Mustang Mach-E nameplate, the Tesla Model Y is still shrouded in mystery for many car buyers. While Tesla’s reputation for cutting-edge technology brings an expectation for high sticker prices, comparing its price with the more familiar-sounding Mustang Mach-E GT might surprise you.

2023 Ford Mustang Mach-E GT Performance Edition vs. Tesla Model Y: Comparing sticker prices

The top-trimmed 2023 Ford Mustang Mach-E GT Performance Edition carries a $64,995 MSRP from Ford, compared to Tesla‘s $47,490 MSRP for a new Model Y in base trim. Jumping to the Tesla Model Y Performace trim raises the MSRP to $54,490, still $10,500 less than the Mach-E GT. The lowest-priced model is the rear-wheel drive Mach-E Select trim, priced at $42,995. 

What does a fully loaded 2023 Ford Mustang Mach-E GT Performance Edition include?

A 2023 Ford Mustang Mach-E compact EV SUV model parked on a cobblestone path under the shade of a tree
2023 Ford Mustang Mach-E | The Ford Motor Company

Ford says the Mustang Mach-E GT Performance Edition is an SUV “engineered for the adrenaline enthusiast” because of its:

  • Powerful 480-horsepower dual-motor all-wheel drive drivetrain with 634 lb-ft of “nearly instantaneous torque.”
  • Performance handling characteristics derived from an independent suspension, selectable power-assisted steering, and MagnaRride suspension damping system
  • Selectable drive modes include Normal, Slippery, and Sport settings, along with Track and Drag Strip modes.

The Mustang Mach-E calls upon its muscle-car roots to deliver pony car performance in a modernized electric SUV. As such, the Mach-E’s interior is as impressive as its performance characteristics. Inside the spacious cabin, you’ll find:

  • A B&O 10-speaker sound system delivers your desired audio and a stirring exhaust symphony of V8 power
  • Ford BlueCruise for hands-free highway driving (90-day free trial or $2,100 for a three-year subscription)
  • A panoramic fixed-glass roof
  • Seating for five plus additional space for cargo

2023 Ford Mustang Mach-E available upgrades include:

  • Premium paint color – up to $795
  • GT Performance Edition – $5,000 (included in the price comparison above)
  • Night-Pony Package – $800
  • Mobile power cord – $500

What’s included in the Tesla Model Y Performance trim?

The Tesla Model Y Performance isn’t as powerful, quick, or fast as the Model S Plaid, but its ground-up EV integrated systems design still impresses at its price point. The Model Y Performance features:

  • A dual electric motor configuration
  • Up to 456 horsepower and 479 lb-ft of torque 
  • A lowered suspension for improved cornering speed
  • A top speed of 155 mph

Like the Ford Mustang Mach-E GT, the Model Y features a full glass roof and an upcharge for premium paint colors. However, the Model Y’s futuristic technology surpasses the Mach-E’s. The Tesla Model Y’s optional tech upgrades include the $6,000 Enhanced Autopilot and Full Self-Driving Capability for $15,000 that will reportedly allow “Autosteer on city streets” in the future. 

Are there any tax credits for buying a Mach-E or a Model Y?

According to the government website Fuel Economy, new IRS rules, effective April 18, 2023, retain EVs’ $7,500 federal tax credit with battery materials sourced from approved countries. The revised guidelines also reduced the tax credit to $3,750 for EVs with otherwise sourced batteries. While all three Tesla Model Y trims qualify for the full $7,500 tax credit, the 2023 Ford Mustang Mach-E trims fall into the $3,750 tax credit bracket.

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