Ford recently slashed its electric vehicle (EV) prices in Australia by up to AUD$15,000 for some units. Ford EV price cuts follow a trend in Australia right now, where automakers are reducing EV prices left and right.
Ford entered Australia’s EV market late last year with the all-electric Mustang Mach-E SUV and the E-Transit van. The car manufacturer reduced the price of its all-electric van by $15,000. The E-Transit van now starts at AUD$89,990 from $104,990.
The legacy automaker already reduced the price of the Mach-E before starting deliveries in Australia. Since its release in Australia last year, the company has dropped the price of the Mach-E even more by $8,000, for a total reduction of $15,000.
As of this writing, the Ford Mustang Mach-E starts at $64,990 for the Select variant. Meanwhile, the top-tier Mach-E GT variant starts at just under $1000,000. Below are Ford’s Mach-E prices after reductions reported by The Driven.
- Mach-E Select – $64,990 before on-roads (down $8,000)
- Mach-E Premium – $79,990 before on-roads (down $7,000)
- Mach-E GT – $97,990 before on-roads (down $7,000)
Local reports suggest that EV prices in Australia have plunged dramatically, seemingly “overnight.” Automakers have cut EV prices by up to AUD$20,000 in some cases. For example, the Nissan Leap’s price went down from AUD$50,990 to AUD$39,990. The popular Tesla Model Y now costs $55,000 from its peak of $72,000.
According to car expert Paul Maric, introducing Chinese EVs has spurred Australia’s EV price cuts.
“It’s all been spurred on by Chinese brands who have started bringing in much more affordable electric vehicles to what we’re used to, and typically what happens with volume brands is they don’t really adjust their pricing after it’s set.
“But we’ve seen brands like Peugeot take like $20,000 out of some of their electric cars, which is unheard of and it also gives you an idea of how much margin they actually had built into them,” Maric told Yahoo Finance.
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