Ford Unveils 0% APR on 2024 Mustang Mach-E Following Major Price Cuts
Ford has introduced an enticing financing option for its 2024 Mustang Mach-E, featuring a 0% annual percentage rate (APR) for 48 months. This strategic move follows Ford’s substantial price reductions earlier in the year, marking another significant push in the competitive electric vehicle (EV) market.
Enhanced Sales and Competitive Market Position
Following the price cuts announced in February, Ford reported a significant 86% sales increase in the first quarter (Q1), positioning the Mustang Mach-E as the second best-selling electric SUV in the U.S. behind Tesla’s Model Y. With 9,589 units sold, marking a 77% increase compared to last year, Ford has demonstrated considerable growth in consumer demand.
Data analytics firm Cloud Theory highlighted the immediate impact of the price reductions, indicating a surge in weekly movements from around 300 units to more than 1,000, at times reaching up to 1,800 in early March.
New Financing Details and State Availability
The new 0% APR offer is currently available in selected states, including Arizona, California, Colorado, Florida, Michigan, Oregon, Texas, and Washington. This deal follows a revision of the 4-year rate from 2.9% to 1.9%, just less than a week ago. According to CarsDirect, the price of the Mach-E has effectively decreased by nearly $5,000 on a $50,000 loan compared to early May rates.
2024 Mustang Mach-E Trim Prices and Range Specifications:
- Mustang Mach-E Select:** 250 mi range, priced at $39,995
- Mustang Mach-E Premium:** 320 mi range, priced at $43,995
- Mustang Mach-E GT:** 280 mi range, priced at $53,995
- Mustang Mach-E Rally:** 265 mi range, priced at $59,995
Ford is also providing 0% APR for 72 months on all 2023 Mach-E models and includes up to $3,000 in bonus cash. Moreover, Tesla owners considering a switch can receive an additional incentive of up to $10,000 in some states.
Ford’s aggressive pricing and financing strategies reflect its commitment to strengthening its position in the electric vehicle market, making the Mustang Mach-E a more enticing option for consumers seeking performance and sustainability.
