Ford announced on Monday that it has lowered the price of its electric Mustang in the United States by up to $5,900, following the worldwide price cut by Tesla, as reported by Reuters.
We have recently launched attractive and competitive offers for the Mustang Mach-E [electric version], and we can give our European customers short delivery times in most specifications,” Ford reports.
Tesla’s recent price cuts for the Model Y and Model 3 are not limited to the US market. In Spain, the company has reduced the price of the Model 3 by up to 7,000 euros, making it available for 46,200 euros. The Model Y has also been lowered by 4,000 euros. Both models now fall within the price range eligible for the Spanish government’s Moves III Plan to incentivize electric vehicle purchases. In China, Tesla has already announced multiple price cuts in response to low sales, with reductions made twice in the past three months.
The Model 3 is now available in China for 229,900 yuan (S$44,565), down from its previous price of 265,900 yuan (S$51,543). According to Reuters, Tesla has decreased its prices in China between 13% to 24% since September. Despite the price cut, Tesla recorded its lowest sales in the past five months in December in the Chinese market.
Here in Singapore, we are more than happy to accept price slashes especially when private transport prices are through the roof.