It was just days ago we wrote about how Ford was hiking the price of its F-150 EV by almost exactly the same amount offered as an EV subsidy in the Biden administration’s new “Inflation Reduction Act”.
While some argued that the price hikes came days before the Act was signed by President Biden, and therefore weren’t definitive proof that Ford was just price gouging the government’s latest handouts, we think that argument has now officially been put to rest, with Ford now also increasing Mustang Mach-E EV prices between $3,000 and $8,100, depending on Model.
The company is “also increasing shipping costs by $200 on all models,” according to Automotive News’ Michael Martinez.
The company says the new price reflects “significant material cost increases, continued strain on key supply chains, and rapidly evolving market conditions,” according to The Verge. They provided a breakdown of the increases by model type:
- Select RWD Standard Range: $46,895 ($43,895)
- Select eAWD Standard Range: $49,595
- California Route 1 eAWD Extended Range: $63,575 ($52,450)
- Premium RWD Standard Range: $54,975 ($48,775)
- Premium eAWD Standard Range: $57,675
- GT Extended Range: $69,895 ($61,995)
The kicker is that the Mach-E may not even be eligible for the new tax credit until 2024, due to requirements that 40% of the vehicle’s components are made in North America or by a US trading partner, the report says.
Recall, just days ago, we wrote that Ford had hiked its F-150 EV price. Ford announced last week that it is raising the price of its high end electric F-150 by up to $8,500; an amount that adds another $1,000 onto the new $7,500 EV subsidy that was including in President Biden’s “Inflation Reduction Act”. Base models are seeing their prices hiked by $7,000.
The electric F-150 had previously been listed for $40,000 for its base version. Now, it is priced at $47,000, according to CNN. The better equipped versions of the vehicles have similar price hikes, up to $8,500.
Rather than come right out and state what appears to be the obvious, Ford said that the price change is due to “significant material cost increases and other factors.” They are making the same claims about the Mustang Mach-E price hike.
Other factors like…oh, say, a $7,500 taxpayer subsidized cash grab?