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Ford CEO calls electric vehicle market price cuts 'a worrying trend'

Posted on AllSides May 3rd, 2023
From The Center
REUTERS/David 'Dee' Delgado/File Photo

Ford CEO Jim Farley said on Wednesday that price cuts in the electric vehicle market were "a worrying trend" after the U.S. automaker dropped prices for its Mustang Mach-E in response to a series of reductions by rival Tesla (TSLA.O).

Ford on Tuesday announced a price cut of up to 8% of its Mustang Mach-E electric vehicle, the second cut the automaker announced this year.

Farley compared the price war in the EV market to Henry Ford's series of price cuts for the Model T starting in 1913. But the...

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