Ford Mustang Mach-E sales immediately surged after the brand dropped prices by up to $8,100 in February 2024.
Ford slashed Mustang Mach-E prices after the electric crossover lost eligibility for the federal tax credit at the start of the year. Some Mach-E trims, including the extended range Premium RWD and AWD, received heavy discounts of $8,100. Ford is now reaping the rewards from the price cuts as Mach-E inventory levels have started to drop. The Dearborn automaker released its Q1 2024 sales results today, and numbers show that Ford EVs are gaining some sales momentum.
Cloud Theory states that Mach E’s turn rate, the percentage of vehicles clearing from the inventory over a certain period, was still below the industry average. Even though its turn rate soared from 7% to 33% since the price cuts, it remains under the industry average of 45%. Note that the price cuts were for model year 2023 Mach-Es, and Ford wants to make space for MY2024 models. However, it’s a good sign for the brand, which now claims to be the second best-selling EV maker in the U.S.
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