The price of a new Ford Mustang Mach-E has shot up by an average of over £7700 in the last seven months, with one particular variant rising by more than £9300.
Prices for the US-built electric SUV – which now starts at £50,030 – were raised by between £2500 and £5980, depending on specification, earlier this month.
This follows a similar increase in prices in April, which took the start price up by between £1750 and £5000, depending on the model.
Since the start of 2022, the biggest increase can be found on the AWD Standard Range, which has risen by £9310, from £50,770 to £60,080.
The range now opens with the RWD Standard Range now at £50,030 and is tops off at £72,830 for the GT. At the start of the year, those same cars cost £42,450 and £66,200 respectively.
Autocar has contacted Ford for comment on the price hikes.
Last month, Ford finance boss John Lawler said that inflation had “wiped out” the profit that the firm had initially expected to make on the Kia EV6 rival.
He said it raised vehicle prices in April to offset the effects of inflation, with those increases preserving profit margins, American news outlet CNBC reported.
But the rises still weren’t enough to offset the impact of climbing costs on the Mustang Mach-E, which could hint at why they’ve been raised again.
Autocar previously reported that significant commodity costs and prices of raw materials such as steel and the rising price of energy had contributed to the price rise in April.
Prices of certain raw materials have been driven up further by Russia’s invasion of Ukraine in March, and costs are still rising to date.
EVs have been hit particularly hard, as resources such as nickel and lithium, both commonly used in EV batteries, are growing in price.
As a result, some makers have upped the prices of popular models. Tesla, for instance, recently bumped up prices of the Tesla Model 3 and Tesla Model Y by more than 4%.
A significant number of other firms, such as Volkswagen, have been impacted by shortages of Ukrainian-produced parts, primarily wiring harnesses.