The Ford Mustang has always positioned itself as a stylish vehicle with impressive performance that many people can reasonably afford. But as customers have demanded more power and better driving dynamics over the years, the Mustang has only gotten more expensive. Now that Ford is offering an electric crossover bearing the Mustang badge, it’s easy to assume the Mach-E will be a pricy vehicle, like other EVs. And that assumption would be correct, as the $42,895 base price suggests. But that’s before the Mach-E’s plentiful incentives are considered, and as Cars Direct found out, it can actually make the Mach-E less expensive than a Mustang GT with the Coyote V8.
For starters, Ford’s only other electric car to date has been the rather dismal Focus Electric. Ford didn’t sell many, which means they can sell plenty of Mach-Es before they hit the 200,000 unit cap where the tax incentives begin to run dry. This will give Mustang Mach-E buyers the familiar $7,500 credit for their purchase. Plus, buyers are also eligible for a $1,500 clean fuel reward, and California owners can score an additional $2,000 California Clean Vehicle Rebate. This results in a base level Ford Mustang Mach-E price coming down to $31,895 ($33,895 for non-California residence.
That brings the price of a base level Mach-E lower than a base level Mustang GT coupe, which starts at $35,880. Plus, it’s pretty rare that you’ll actually find a Mustang GT with no options at any dealer, but base level Mach-E Select comes well equipped with lots of tech from the get-go, as most electric cars are.
You can even step up to the Ford Mustang Mach-E Premium, and bring the MSRP down from $47,000 to $36,000 with that maximum $11,000 discount. This makes a Mach-E Premium pretty much the same price as a base level Mustang GT. The point is, as our own Manoli Katakis discovered in his first drive, the Ford Mustang Mach-E is essentially an electric hot hatchback with a Mustang badge. With these seriously good discounts, a Mach-E could be a fun family vehicle for people whose lifestyles can accommodate an EV or want a Mustang with more practicality. All for less than you think.
But let’s be honest: your heart still wants the V8.