Ford is launching a new program to attract Tesla owners to purchase its F-150 Lightning and Mustang Mach-E electric vehicles. The “Tesla Competitive Conquest Bonus Cash” program offers Tesla owners an extra $1,500 off the purchase of either vehicle until July 8. This discount does not require Tesla owners to trade in their car, only to prove ownership.
In addition to the discount for Tesla owners, Ford has also dropped prices on some of its F-150 Lightning trucks, with reductions ranging from $2,000 to $5,500 depending on the trim level. The 2024 models of the F-150 Lightning and Mustang Mach-E have starting prices of $54,995 and $39,995, respectively. This move by Ford comes as a response to Tesla’s aggressive pricing strategy in the electric vehicle market.
Ford has faced challenges in selling its electric cars, with reports of Mustang Mach-E SUVs piling up on dealer lots. The company also postponed significant spending on its EV ventures in 2023 and reduced production of the F-150 Lightning last year. In February, shipments of the F-150 Lightning were halted due to quality issues, but have since resumed. The automotive industry is seeing fierce competition in the EV market, and Ford’s efforts to attract Tesla owners with discounts reflects the competitive landscape.
