{"id":1624324,"date":"2022-08-27T22:48:47","date_gmt":"2022-08-28T02:48:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1624324"},"modified":"2022-08-27T22:49:32","modified_gmt":"2022-08-28T02:49:32","slug":"ford-electric-mustang-price-going-up-after-biden-dems-handed-out-ev-tax-credit","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-electric-mustang-price-going-up-after-biden-dems-handed-out-ev-tax-credit\/","title":{"rendered":"Ford Electric Mustang Price Going Up After Biden, Dems Handed Out EV Tax Credit"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fford-electric-mustang-price-going-up-after-biden-dems-handed-out-ev-tax-credit%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1624324&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The price of <a href=\"https:\/\/www.dailywire.com\/news\/ford-plans-to-cut-8000-jobs-so-it-can-fund-ev-push-report\">Ford<\/a>\u2019s Mustang Mach-E will see up to an $8,475 increase next week due to what the <a href=\"https:\/\/www.dailywire.com\/topic\/ford-motor-co\">company<\/a> says are \u201csignificant material cost increases\u201d and \u201cevolving market conditions.\u201d<\/p>\n<p>Buyers will face the higher price tag on the electric vehicle (EV) when order banks for the 2023 model reopen on Tuesday, CNBC <a href=\"https:\/\/www.cnbc.com\/2022\/08\/26\/ford-mustang-mach-e-price-hiked-by-as-much-as-8475-due-to-battery-costs.html\">reported<\/a>. The increase comes just weeks after President <a href=\"https:\/\/www.dailywire.com\/topic\/joe-biden\">Joe Biden<\/a> signed the Democrats\u2019 <a href=\"https:\/\/www.dailywire.com\/topic\/inflation-reduction-act\">Inflation Reduction Act<\/a>, a massive climate spending bill that handed out tax credits to Americans willing to purchase certain EVs.<\/p>\n<p>\u201cFord is adjusting the MSRP on the Mustang Mach-E due to significant material cost increases, continued strain on key supply chains, and rapidly evolving market conditions, and will continue to monitor pricing across the model year,\u201d the Michigan-based motor company <a href=\"https:\/\/media.ford.com\/content\/fordmedia\/fna\/us\/en\/news\/2022\/08\/25\/mustang-mach-e-order-banks-re-open-updated-pricing-colors.html\">said<\/a>.<\/p>\n<p>The Mustang Mach-E 2022 models were priced between 44,000 and $62,000, but the 2023 makes of the EV will cost as high as $70,000 with the cheapest option being $47,000. Earlier this month, Ford also increased prices on its electric pickup truck, the F-150 Lightning, for similar reasons, according to CNBC. Tesla, Rivian, Lucid, and GM have also <a href=\"https:\/\/www.cnbc.com\/2022\/05\/21\/electric-vehicle-prices-rise-at-tesla-rivian-gm-and-other-carmakers.html\">raised prices<\/a> on EVs this year.<\/p>\n<p>Car manufacturers are increasing EV prices after electric battery costs skyrocketed during the COVID pandemic. Materials such as cobalt, lithium, and nickel have become harder to get, with China <a href=\"https:\/\/www.forbes.com\/sites\/rrapier\/2022\/01\/11\/the-us-is-losing-the-lithium-industry-to-china\/?sh=16e4dee16a15\">dominating<\/a> cobalt and lithium production. That, coupled with supply chain issues, resulted in the cost of raw materials for EV production <a href=\"https:\/\/www.cnbc.com\/2022\/06\/22\/electric-vehicle-raw-material-costs-doubled-during-pandemic.html\">doubling<\/a> from March 2020 to May 2022.<\/p>\n<p>Biden <a href=\"https:\/\/www.dailywire.com\/news\/biden-signs-740-billion-inflation-reduction-act\">signed<\/a> the Inflation Reduction Act on August 16, with full Democratic support in the Senate, as every single Republican opposed. Along with the bill\u2019s nearly $370 billion spent on climate, the legislation also grants tax credits of up to $7,500 for those who buy certain EVs that are assembled in North America.<\/p>\n<p>\u201cAmerican auto companies, along with American labor, are committing their treasure and their talent \u2014 billions of dollars in investment \u2014 to make electric vehicles and battery and electric charging stations all across America, made in America,\u201d the president <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/08\/16\/remarks-by-president-biden-at-signing-of-h-r-5376-the-inflation-reduction-act-of-2022\/\">said<\/a> at the bill\u2019s signing.<\/p>\n<p>According to the <a href=\"https:\/\/afdc.energy.gov\/laws\/inflation-reduction-act\">Department of Energy<\/a>, the 2022 Ford Mach-E qualifies for Biden\u2019s tax credit. The 2023 model, however, did not appear on the department\u2019s list of EVs that qualified.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Ford\u2019s Mustang Mach-E will see up to an $8,475 increase next week due to what the company says are \u201csignificant material cost increases\u201d and \u201cevolving market conditions.\u201d Buyers will face the higher price tag on the electric vehicle (EV) when order banks for the 2023 model reopen on Tuesday, CNBC reported. The &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1624326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1624324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1624324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1624324"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1624324\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1624326"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1624324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1624324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1624324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}