Ford cuts price on Mustang Mach-E after Tesla price cuts

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An 2022 Ford Mustang Mach E whips past the State Capitol as the legislative session opens in the House of Representatives in the Senate chambers Monday, Jan. 9, 2023, in Denver. Colorado is the second state in the union to have a majority of House and Senate seats filled by women and also has the largest LGBTQ caucus of any legislature in the country. (AP Photo/David Zalubowski)

DETROIT (AP) — Ford is cutting prices on its Mustang Mach-E electric SUV by as much as $6,000 just weeks after market leader Tesla took similar steps.

The Detroit automaker increasing production of the Mach-E this year and is taking advantage of streamlined costs to reduce prices across the board, it said Monday.

The price cuts are part of Ford's plan to keep the SUV competitive in a fast-changing market, it said in a prepared statement.

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The price of a base rear-wheel-drive standard range Mach-E will drop $900, from $46,895 to $45,995. The top-end GT extended range will fall $5,900, from $69,895 to $63,995. The prices don't include shipping, government fees or taxes.

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