DETROIT (Michigan News Source) – The price of a Ford Mustang Mach-E is being reduced in the wake of price cuts by Tesla.

Ford officials say they are reducing the price of the car that has been called “unprofitable” by an average of $4,500. The automaker is hoping to offset some of their losses by increasing production by 67% this year.

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The Mustang Mach-E is currently the third-highest-selling EV in the US after the Tesla Model 3 and Model Y.

The GT-Extended Range Mach-E now has a sticker price of 63-thousand-995 dollars.

Ford says the price cut also brings all models of the Mach-E in line with the federal government’s guidelines to qualify for a $7,500 tax credit.