Make your home page

Ford is raising the price of its electric SUV as much as $8,000

(CNN) — Just weeks after announcing it was raising the price of the Ford F-150 Lightning electric pickup, Ford announced it is similarly boosting prices for its other popular electric vehicle, the Mustang Mach-E.

When Ford begins taking orders on Tuesday for the 2023 model year Mach-E, prices will be about $3,000 higher for base models and as much as $8,000 higher for well-equipped higher-range versions of the SUV.

The price for the rear-wheel-drive base models will rise from about $43,000 to roughly $46,000. The Mustang Mach-E GT, which has all-wheel-drive and a bigger battery pack, will increase from about $62,000 to about $69,900.

Ford announced it is raising prices due to “continued strain on key supply chains, and rapidly evolving market conditions.” The automaker said it would continue monitoring prices and market conditions throughout the upcoming model year. Customers with outstanding orders for 2022 model year vehicles that have not yet been scheduled for manufacturing and delivery will be offered a 2023 model instead, according to Ford.

There are some additional features being added for the new Mach-E models, though. For instance, Ford’s “Co-Pilot 360” advanced driver assistance technology will be standard equipment on all models. It includes lane-keeping assistance, automatic high beams and blind spot monitoring. Also, all-wheel-drive models with “extended range” battery packs will be able to drive an EPA-estimated 290 miles before needing to recharge, 13 miles more than in 2022 models.

Buyers of the Ford Mustang Mach-E will also be eligible for a $7,500 tax credit through the end of 2022. It is unclear if the Mach-E will continue to qualify for tax credits under new federal regulations, according to Ford spokesman Dan Barbossa.