In another example of the power and benefits of novated leasing, Ford has announced a price reduction on the Mustang Mach-E so it qualifies for the FBT Exemption on electric vehicles.
The Electric Car Discount Bill introduced last year has made electric and plug-in electric vehicles exempt from FBT if the purchase price is under $89,322 (FY23-24). This means in a novated lease, you can now lease a $70,000 EV on the same monthly rental as a $50,000 petrol or diesel car because there is no FBT to pay on the EV or PHEV.
Ford is not the first manufacturer to reduce its prices and several manufacturers (including BMW) have launched models under the price limit to attract new car buyers looking at a novated lease for an electric car.
The changes to the Mustang Mach-E electric car are headlined by a $7,000 reduction in the MLP of the Select model, bringing the entry price of Mustang Mach-E to $72,990. The long-range Premium model MLP will drop below the crucial Luxury Car Tax (LCT) threshold to $86,990 while the flagship GT model, featuring a 358kW dual-motor drivetrain, will cost $104,990.
With both the Select and Premium models’ MLP below the LCT threshold, there are now two Mustang Mach-E variants that qualify for the Electric Car Discount Policy, which makes them exempt from Fringe Benefits Tax (FBT) when purchased via novated lease.
The all-electric SUV boasts a range of up to 600km in the Premium model, fast charging capabilities, and advanced technology features that make it a strong entry to the market.
“This price reduction is a major positive for our customers and demonstrates our commitment to delivering the best products and great value to our customers. As the EV market continues to evolve, we are responding to it,” said Andrew Birkic, Ford Australia President and CEO.
Updated Manufacturer List Pricing
| Mach-E 23.75MY | Select | Premium | GT |
| Current MLP (superseded) | $79,990* | $91,665*^ | $107,665*^ |
| New MLP | $72,990* | $86,990* | $104,990*^ |
| Reduction | $7,000 | $4,675 | $2,675 |
*Recommended MLP only, including GST* and LCT^. The offer price of any vehicle or option is entirely at the discretion of the Dealer. Prices shown exclude Dealer delivery and statutory charges.
The first Australian customer deliveries of Mustang Mach-E will begin in December.
