2024 Ford Mustang Mach-E price cut in Australia before deliveries begin

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The price of the Ford Mustang Mach-E has been cut by up to $7000 ahead of first customer deliveries – but it is still more expensive than a Tesla Model Y.

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Ford Australia has cut the price of the 2024 Ford Mustang Mach-E electric SUV by up to $7000 days before customer deliveries are due to commence.

All three models have been lowered in price by $2675 to $7000 amid criticism of Ford’s original prices, which were about $15,000 higher than equivalent versions of the Tesla Model Y, Australia’s best-selling electric vehicle so far this year.

However, at $72,990 plus on-road costs, the cheapest Mustang Mach-E is still $5800 dearer than the most affordable Model Y once order and delivery fees are included.

Meanwhile the flagship GT performance version is $10,630 more expensive than a top-of-the-range Tesla Model Y Performance.

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The Australian announcement follows aggressive price cuts for the Mustang Mach-E in Europe and the US – and similar reductions by Tesla in Australia, the US, Europe and most other markets where it sells cars over the past 12 months.

The updated prices will apply from the start of customer deliveries later this month.

The entry-grade Mustang Mach-E Select is priced from $72,990 plus on-road costs, down $7000 from its original price of $79,990.

The middle-of-the-range, rear-wheel-drive Mach-E Premium is now priced from $86,990 plus on-road costs, down from $91,665. It is now below the Luxury Car Tax (LCT) threshold ($89,332) – and therefore is exempt from Fringe Benefits Tax (FBT) for buyers purchasing on a novated lease.

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Meanwhile the flagship Mach-E GT is priced from $104,990 plus on-road costs – but including Luxury Car Tax – down from $107,665.

A Tesla Model Y Performance is $94,360 before on-road costs – but after order and delivery fees, and Luxury Car Tax – while a Tesla Model Y Long Range all-wheel drive is $80,200.

“This price reduction is a major positive for our customers and demonstrates our commitment to delivering the best products and great value to our customers,” Ford Australia president and CEO Andrew Birkic said in a media statement.

“As the [electric-vehicle] market continues to evolve, we are responding to it.”

Model Old price New price Reduction
Select $79,990 $72,990 $7000
Premium $91,665 $86,990 $4675
GT $107,665 $104,990 $2675

Alex Misoyannis has been writing about cars since 2017, when he started his own website, Redline. He contributed for Drive in 2018, before joining CarAdvice in 2019, becoming a regular contributing journalist within the news team in 2020.

Cars have played a central role throughout Alex’s life, from flicking through car magazines at a young age, to growing up around performance vehicles in a car-loving family.

Read more about Alex MisoyannisLinkIcon

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