Ford Mustang Mach-E: Prices reduced by up to $7000

The 2024 Ford Mustang Mach-E

Andrea Matthews

Posted December 21, 2023

Prices for Ford's upcoming electric Mustang SUV have been reduced, with the entry level model variant receiving the steepest price cut and priced more aggressively to better compete against Tesla.

Ford Australia has delivered an early Christmas present to buyers of its new Mustang Mach-E electric SUV by reducing the price of its newest model by up to $7000.

The three models in the Ford Mustang Mach-E range are each reduced in price with the Select entry model gaining the largest discount and now priced at $72,990 plus on-road costs.

The Ford Mustang Mach-E range is reduced by upto $7000

The Ford Mustang Range now represents better value. Image: Supplied

Prices reduced across the Mustang Mach-E range

A price reduction for the long-range Premium model results in a new price tag of $86,990, bringing it under the luxury car tax threshold, while the range topping 358kW duel-motor Ford Mustang Mach-E GT will cost buyers $104,990 inclusive of luxury car tax.

Both lower priced Ford Mustang Mach-E models qualify for the Electric Car Discount Policy and are exempt from Fringe Benefits Tax (FBT) when purchased via novated lease.

Ford Mustang Mach-E updated pricing 

(including GST and LCT where applicable, excludes on-road costs)

  • Select - $72,990  (-$7000)
  • Premium - $86,990  (-$4675)
  • GT - $104,990  (-$2675)


The 2024 Ford Mustang Mach-E interior and technology

The Ford Mustang Mach-E's interior features a dominant touchscreen display. Image: Supplied

Ford says Mustang Mach-E is now better value

“This price reduction is a major positive for our customers and demonstrates our commitment to delivering the best products and great value to our customers. As the EV market continues to evolve, we are responding to it,” said Andrew Birkic, Ford Australia President and CEO.


The BYD Dolphin is currently Australias most affordable EV. Image: Toby Hagon

The BYD Dolphin is currently Australia's most affordable EV. Image: Toby Hagon

Australian EV pricing

Ford’s price adjustment puts the Mustang Mach-E on a par with the Hyundai Ioniq6 and Polestar 2 sedans.

Despite the reduction, the Ford electric SUV is still undercut by both the Tesla Model Y ($65,400 plus on-road costs), Australia’s fourth best-selling vehicle so far this year, and the even more affordable BYD Atto 3 (from $48,011, plus on-rad costs), both of which we have compared head-to-head.

The most affordable electric vehicle in Australia is currently the BYD Dolphin, priced from just $38,890 plus on-road costs.

Expect to see more mid-priced and high-end EVs in 2024 when established brands like Volkswagen and re-establishing brand, Cadillac, enter the market.

Over 80,000 electric-only vehicles have been sold so far this year in Australia according to Federal Chamber of Automotive Industries' VFACTS report in November, almost three times as many as the same period last year.


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