Ford Mustang Mach-E hit by price hike as material costs rise Car News

The entry price of the Ford Mustang Mach-E electric SUV has risen by more than £6,000, with Ford citing a dramatic rise in material and energy costs.

The rival Kia EV6 now starts at £47,530, up from its original launch price of £41,330, with the change taking effect on April 1.

Ford told Autocar that high commodity costs and prices for raw materials such as steel and rising energy prices contributed to the price increase.

That means just one Mustang Mach-E variant, the standard RWD range, costs less than £50,000. The extended RWD range is now priced at £52,080, down from £49,980.

High-end all-wheel-drive models have not escaped the ride. The standard range AWD is now £54,100, down from £46,650, while the extended range AWD is now £61,480, down from £57,030.

The range-topping Ford Mustang Mach-E GT, which originally cost £67,225, has been less affected by the increases, now priced at £68,030.

Ford told Autocar that strong demand remains for the Mustang Mach-E despite its price increase, with the EV currently having a lead time of seven to eight months for UK customers.

Materials and energy prices have been hit hard since the start of the new year, with several automakers feeling the pressure. The prices of certain raw materials, which were already on the rise, have recently been pushed up further by Russia’s invasion of Ukraine.

Some companies, such as Volkswagen, have been hit by shortages of parts produced in Ukraine, including wiring harnesses. As a result, some have raised the prices of popular models. Rising energy costs, meanwhile, have pushed up factory bills.

Electric vehicles have been particularly hard hit, with valuable resources such as nickel and lithium, both commonly used in electric vehicle batteries, rising in price.

Russia is one of the world’s largest suppliers of other useful metals, such as palladium and platinum.

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This notice was published: 2022-04-12 05:01:22

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