Ford is trying to sell more electric vehicles (EVs), and they have a special deal for people who own a Tesla.
Ford is offering a $1,500 discount to people who own a Tesla and buy one of their F-150 Lightning trucks.
A source from a Ford dealership confirmed this and said the discount also applies if you buy a Mustang Mach-E SUV. You don’t have to give up your Tesla to get the discount, but you have to prove you own one.
To qualify for the discount, you need to own or lease a Tesla made in 2008 or later. This offer is available until July 8 for both the 2023 and 2024 models of the F-150 Lightning.
Both Ford and Tesla’s stock prices went down a bit after this news. However, Rivian’s stock went down more because people were worried that Ford’s discount might make more people buy the Lightning instead of Rivian’s R1T pickup truck.
This kind of discount from Ford is not very common. Usually, car companies offer discounts to people who own a certain type of car or to a specific group, like owners of pickup trucks or electric cars.
Ford has other discounts too. Right now, they are offering $7,500 off the 2023 Lightning XLT extended battery trim, $5,000 off the 2023 Lightning Lariat, and $12,500 off the top-of-the-line Platinum models.
Ford is also planning to lower the prices of some of their new models. They will reduce the price of the mid-range “Flash” trim by $5,500 and make smaller cuts for the existing Lariat ($2,500) and XLT ($2,000) models. However, the prices for the Pro and Platinum trims will stay the same.
The Mustang Mach-E, another popular Ford electric car, starts at around $40,000. With added discounts like the Tesla Conquest cash, it becomes more competitive against Tesla’s cars and other electric vehicles on the market.
Ford recently announced changes to its future plans for electric vehicles. They are delaying the start of production at their big EV campus in Tennessee to 2026, and they are also pushing back the launch of new electric vehicles at their plant in Ontario to 2027. Investors and analysts are waiting to hear more about how these changes will affect Ford’s business when they report their first-quarter results.
