The price of a new Ford Mustang Mach-E has shot up by an average of over £7700 in the last seven months, with one particular variant rising by more than £9300. Prices for the US-built electric SUV – which now starts at £50,030 – were raised by between £2500 and £5980, depending on specification, earlier this month. This follows a similar increase in prices in April, which took the start price up by between £1750 and £5000, depending on the model.
Prices of certain raw materials have been driven up further by Russia’s invasion of Ukraine in March, and costs are still rising to date. EVs have been hit particularly hard, as resources such as nickel and lithium, both commonly used in EV batteries, are growing in price. As a result, some makers have upped the prices of popular models. Tesla, for instance, recently bumped up prices of the Tesla Model 3 and Tesla Model Y by more than 4%.
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