Ford is cutting prices across the board for the Mustang Mach-E in an effort to remain competitive following similar price cuts from Tesla.

The Mustang Mach-E has emerged as one of Tesla’s main competitors, even topping Tesla in Consumer Reports rankings. In mid-January, Tesla announced major price cuts across its lineup, and Ford is now following suit.

“We are not going to cede ground to anyone. We are producing more EVs to reduce customer wait times, offering competitive pricing and working to create an ownership experience that is second to none,” said Marin Gjaja, Chief Customer Officer, Ford Model e. “Our customers are at the center of everything we do – as we continue to build thrilling and exciting electric vehicles, we will continue to push the boundaries to make EVs more accessible for everybody.”

The price drops are fairly substantial, with GT Extended Range models seeing as much as a $5,900 reduction.

Customers who purchased after January 1, 2023, or those still awaiting delivery, will automatically receive the adjusted price.

“Part of our mission at Ford is to treat customers like family,” said Gjaja. “We want our customers to know they made the right decision by choosing a Mustang Mach-E, and we’ll continue to play a proactive role in doing the right thing for those joining the Ford family.”

Ford is clearly going all out in its efforts to take the EV crown from Tesla, and these price reductions will certainly help.