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Ford Motor is set to implement a new price hike on its Mach-E sports utility vehicle units. It was reported that the increase could range from $3,000 to as much as $8,000. The new prices are applicable to the latest model of Mach-E.
As per CNN Business, Ford Motor already started taking orders for the 2023 model of the said SUV. The price could be $8,000 more expensive for well-equipped versions of the unit.
It was reported that the automaker’s price for its rear-wheel-drive base models would go up from $43,000 to about $46,000. For Ford Motor’s Mustang Mach-E GT, which features a bigger battery pack and has an all-wheel-drive mechanism, the price will increase from $62,000 to around $69,900.
The Dearborn, Michigan headquartered automobile manufacturer previously announced it would be hiking up its prices and blamed the move on "continued strain on key supply chains, and rapidly evolving market conditions."
Then again, Ford Motor said that it would push on with monitoring prices and market conditions for the release of its upcoming models. It was added that buyers who originally placed orders for 2022 model year vehicles and still waiting for the delivery of their units will be offered the latest 2023 model instead.
At any rate, the price hike comes just a few weeks after Ford Motor raised the price of its Ford F-150 Lightning electric pickup truck. The price increase was announced earlier this month, and at that time, the company said this was due to the surge in raw materials costs.
This is also applicable to the brand’s 2023 models of F-150 Lightning. The prices have gone up by $6,000 and up to $8,500. The rate will depend on the type of the vehicle, but the cheapest Pro model is now around $47,000.
Meanwhile, Ford Motor’s spokesperson, Dan Barbossa, said that all buyers of their Mustang Mach-E units will be eligible for a $7,500 tax credit until the end of this year. However, it is not clear if the said electric vehicle model will continue to qualify for tax credits based on the new federal regulations.
