Ford hikes the price for the 2023 Mustang Mach-E by as much as $8,000

Ford is raising the price of the 2023 Mustang Mach-E a few weeks after doing the same to its other major EV, the F-150 Lightning.

The automaker announced that it was reopening the order banks for the popular electric SUV with an adjusted MSRP (manufacturer suggested retail price) that reflects “significant material cost increases, continued strain on key supply chains, and rapidly evolving market conditions” — the same reason it gave for hiking the price on the F-150 Lightning.

Here’s a breakdown of the new prices, with the model year 2022 price in parentheses:

• 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)

Ford excluded destination and delivery fees, but those have typically increased as well to as much as $1,200 per vehicle. So customers will pay at least $50,000 for the cheapest Mach-E.

The automaker is trying to sweeten the deal by offering its Co-Pilot 360 advanced driver-assist technology as standard across all trim levels. There are two new colors: carbonized gray and vapor blue. And Select model buyers can have Ford’s Blue Cruise hands-free driver-assist feature for a complimentary 90-day trial period.

(If they decide they don’t want it, they will find themselves in the odd position of having a vehicle with the hardware and software for hands-free driving but with a software block preventing its use.)

The extended battery for the Premium RWD model is also getting a price hike, up to $8,600. But Ford has also increased the added range by 13 miles for a total EPA estimated range of 290 miles.

If you think that the $7,500 federal EV tax credit might help take some of the sting out of these price increases, think again. While the Mustang Mach-E is currently eligible for the tax credit, new requirements that at least 40 percent of its components — including the battery — are made in North America or by a US trading partner go into effect in 2024. The Mustang Mach-E would likely not qualify under those rules.

Ford isn’t the only automaker raising prices on its popular EV models. A recent analysis of millions of car models found that EV prices saw a year-over-year increase of 54.3 percent, while gas-powered cars were up just 10.1 percent.