Ford Raises Price Of Electric Mustang Mach-E

(RTTNews) - Ford Motor Co. (F) is raising the starting prices of its electric Mustang Mach-E crossover by nearly $8,000 for some models.

The company on Thursday announced that it is reopening U.S. order banks for the Mustang Mach-E with updated pricing and features as it continues to increase production for the popular all-electric SUV.

Ford's U.S. electric vehicle sales were up 168.7 percent in July with Mustang Mach-E up 74.1 percent, the second best-selling electric SUV in America, the company said in a statement.

Ford said the markups, which range between $3,000 and $8,475, is due to "significant material cost increases, continued strain on key supply chains, and rapidly evolving market conditions, and will continue to monitor pricing across the model year."

The adjusted price will go into effect for new orders placed starting Tuesday. Customers who have existing, unscheduled 2022 Model Year orders will receive a private offer to convert to a 2023 Model Year.

The starting prices for the 2023 Mustang Mach-E will now range from about $47,000 to $70,000, up from roughly $44,000 to $62,000 for the 2022 model year.

Ford earlier this month also raised the starting prices of its electric F-150 Lightning pickup by between $6,000 and $8,500, depending on the model.