Ford boosting Mustang Mach-E production, cutting price by up to $5,900

Ford says it will drop the price of the Mustang Mach-E electric crossover while simultaneously ramping up production in 2023. Customers can expect to see price drops as steep as nearly $6,000 for upper-trim models in what amounts to a fairly significant correction to the repeated, large price hikes of 2022. And if you've already ordered a 2023, don't worry; Ford says you'll be taken care of too.

The price drops vary from just $600 on the Select eAWD Standard Range model to $5,900 on the GT Extended Range model — the most expensive in the lineup. The full breakdown is listed below (with the destination charge of $1,500 included). We'll note that the 2021 Mach-E Select started at $43,995, which is still thousands cheaper than the most affordable 2023 model.

• Select RWD Standard Range: $47,495

• Select eAWD Standard Range: $50,495

• California Route 1 Extended Range: $59,495

• Premium RWD Extended Range: $52,495

• Premium AWD Extended Range: $55,495

• GT Extended Range: $65,495

With these adjustments, all models with the exception of the California Route 1 and GT Extended Range will fall below the $55,000 threshold to keep them eligible for federal EV purchase credits under the Inflation Reduction Act. And as we noted above, you're not getting screwed if you've already bought a 2023 Mach-E. Ford says existing Mach-E customers awaiting delivery will automatically receive the adjusted price; those who purchased and took delivery on Jan. 1 or later are also eligible for reimbursement, which Ford will handle on a case-by-case basis.