Ford wants to lure customers away from Tesla with a $1,500 discount

Ford is on Tesla separately.

The automaker launched a program earlier this month to offer Tesla owners special discounts on some of its vehicles.

Ford is offering an additional $1,500 rebate to Tesla owners who purchase an F-150 electric or Mustang Mach-E.

Ford Authority was the first to report about the discount. A spokesperson for the company confirmed the incentive and told Business Insider that the program will begin on April 3.

Those looking to take advantage of the discount won’t have to trade in their Tesla, just prove they own one, the source said. he told Yahoo! Finance. According to the publication, the discount is called “Tesla Victory Bonus Cash” and will be available until July 8.

Regardless, Ford cut back, according to one Report from CNBC on Thursday the prices of some of its F-150 Radi trucks. The publication said Ford has cut prices by between $2,000 and $5,500, depending on the car’s trim level.

Starting prices for the 2024 models are currently $54,995 and $39,995, respectively. Tesla’s cheapest car, the Model 3, starts at $38,990, while the Cybertruck electric pickup starts at $60,990.

Ford is through Sharp price cuts for Tesla came under pressure last year.

There were also signs that the automaker was struggling to sell its electric cars. Last year BI reported that Mustang Mache-E SUVs are placed on seller’s lots. Ford postponed also planned spending of nearly $12 billion on its electric vehicle projects in 2023.

In December, Ford announced Production of its electric pickup, the F-150 Lightning. In February, the company halted deliveries of the F-150 Electric due to an unspecified quality issue. The company began shipping again on Thursday, CNBC reported.