Ford recently launched a new initiative offering Tesla owners a special discount on select vehicles. According to reports by Ford Authority, Tesla owners who purchase either a F-150 Lightning or Mustang Mach-E can receive an additional $1,500 off these models. A spokesperson from Ford confirmed the start of this program on April 3, indicating that eligible Tesla owners can take advantage of this discount without needing to trade in their current Tesla, but simply by proving ownership. The discount, named the “Tesla Competitive Conquest Bonus Cash,” will be available until July 8.
In another move, Ford has lowered the prices of some F-150 Lightning trucks by an amount ranging from $2,000 to $5,500 based on the trim level of the vehicle. This price drop applies to the 2024 models, with the F-150 Lightning and Mustang Mach-E starting at $54,995 and $39,995, respectively. These new pricing moves by Ford come in response to competitive pricing strategies by Tesla, which has been adjusting its prices to attract customers. For instance, Tesla’s cheapest vehicle, the Model 3, starts at $38,990, while the Cybertruck electric pickup truck begins at $60,990.
Ford’s EV production has faced pressure from Tesla’s competitive pricing and there have been reports of struggles to sell their electric cars. This issue was highlighted when Mustang Mach-E SUVs were found piling up in dealer lots last year. Ford had held back about $12 billion in planned spending on its EV ventures in 2023 and faced production issues with its electric pickup truck, the F-150 Lightning. Despite these challenges, on Thursday Ford resumed shipments of the F-150 Lightning after a temporary halt due to a quality concern, as reported by CNBC.