Ford Motor Co. is slashing the price of its electric Mustang Mach-E by an average of US$4,500 following Tesla Inc.’s own recent cuts, stepping up the price wars in a slowing EV market.
Ford Motor Co. is slashing the price of its electric Mustang Mach-E by an average of US$4,500 following Tesla Inc.’s own recent cuts, stepping up the price wars in a slowing EV market.
“Our competitors are also adjusting their prices,” Marin Gjaja, chief customer officer for Model e, Ford’s EV unit, told reporters. “As we look and want to stay competitive in the marketplace, we’re having to respond.”Chief Financial Officer John Lawler said in June that profits on the Mach-E had been “wiped out” by rising commodity costs. The automaker responded then by raising prices on the Mach-E to reduce losses, Lawler said.
“We absolutely want to make money,” Gjaja said. “We are re-engineering the vehicle on a perpetual basis to try to get cost out.”The Mach-E’s business case also will improve by boosting production this year to 130,000 models from 78,000 last year, Gjaja said. The Mach-E factory in Cuautitlan, Mexico, is idled currently as the automaker retools it to expand capacity. It will come back online in February, Gjaja said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Harrison Ford inspires cast in new comedy ‘Shrinking’ - Terrace StandardCast of new comedy about grief and therapists delighted to be working with veteran star
Read more »
More nurses and doctors priority for Ontario under possible federal health deal: FordPremiers want to see Ottawa cover 35 per cent of health-care costs, up from the current 22 per cent
Read more »
FULL STATEMENT: Premier Doug Ford remembers his friend and mentor Hazel McCallionAt the request of the family, I announce with a heavy heart, the passing of my dear friend and mentor, Hazel McCallion.
Read more »
Premier Doug Ford remembers his friend and mentor Hazel McCallionAt the request of the family, I announce with a heavy heart, the passing of my dear friend and mentor, Hazel McCallion.
Read more »
Premier Doug Ford recounts final moments with dear friend and mentor Hazel McCallionPremier Doug Ford sat with his dear friend and mentor Hazel McCallion on Saturday, rubbing her hand and helping her family ensure she was as comfortable as possible in her final moments.
Read more »