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Ford Slashes Electric Mustang’s Price in Response to Tesla

  • Discounts of $4,500 a car are aimed at gaining market share
  • Ford’s boosting production at its Mach-E factory in Mexico
Bloomberg business news
WATCH: Bloomberg’s Ed Ludlow discusses the Mustang price cut.Source: Bloomberg
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Ford Motor Co. is slashing the price of its electric Mustang Mach-E by an average of $4,500 in response to Tesla Inc.’s own recent cuts, stepping up the price wars in a slowing EV market.

The discount comes on a model that Ford has already described as unprofitable, but the automaker said it hopes to offset further margin deterioration by boosting production 67% this year.