Ford builds three electric vehicles (EVs) and has just cut prices on two. The 2024 Ford F-150 Lightning electric pickup is getting a round of new incentives to lower prices temporarily. With the 2024 Ford Mustang Mach-E electric SUV, the discount is even easier – Ford has simply reduced the sticker price. There’s no word of price cuts on Ford’s other EV, the E-Transit commercial van.
The company is having difficulty calibrating exactly how many EVs to build. Ford built too few of both when they were first introduced, leaving customers on waiting lists. Now, it has overshot, with finished examples of both the Mustang Mach-E and F-150 Lightning filling sales lots faster than dealers can sell them.
That’s not unusual at the moment. Many automakers have more EVs on the lot than they’d like. Industry analysts say many early adopters excited to own an EV have already bought one. That leaves automakers with the challenge of convincing more skeptical buyers to take the leap.
The government may be dialing back rules intended to require automakers to sell more EVs in response. But Kelley Blue Book analysts still think EVs will make up 10% or more of new car sales for the first time this year.
F-150 Lightning Discounts
The F-150 Lightning won our Best Buy Award in the small field of electric pickups. Our test drivers love its sports-car-like acceleration, advanced tech features, and the questions you get from passersby when you open the frunk (that’s a front trunk, and yes, that’s the official term).
The sticker on the window of the Lightning won’t change. The absurdly quick electric truck still starts at $52,490 (including the mandatory $1,995 destination fee and the $500 price of the charging cable, which Ford insists on billing separately). Prices still push close to over $90,000 fully equipped.
But the truck will get new discounts on some trim levels. The federal government already offers a $7,500 tax incentive on most versions of the truck priced under $80,000. On the Lariat version of the truck, Ford now offers a $5,000 cash incentive. On the high-end Platinum, Ford offers $12,500. Both discounts may require financing through Ford Credit.
Mustang Mach-E Price Cuts
The Mustang Mach-E is a midsize SUV with sporty good looks borrowed from the Mustang muscle car and the jet-takeoff acceleration unique to electric cars. Our test drivers praise its variability – it’s a pleasant highway cruiser or a sprinter, depending on the drive mode you choose – and driver-focused cabin.
Ford has taken a more straightforward approach to discounting this one. The Blue Oval has cut prices across the board. Sticker prices are down at least $3,100 at every trim level.
All prices include both the $1,800 destination charge and the $500 price of the charging cord.
Buyers of the Mach-E can’t currently claim the $7,500 federal EV tax credit. Lessees can.
| Trim Level | MSRP + Destination Fee |
| Select Rear-Wheel-Drive (RWD) | $42,195 |
| Select All-Wheel-Drive (AWD) | $45,195 |
| Premium RWD | $45,195 |
| Premium AWD | $48,195 |
| California Route 1 AWD | $51,195 |
| GT | $54,695 |
