It's never been cheaper to get behind the wheel of a Ford Mustang Mach-E.

Ford this week slashed pricing on the electric crossover for the third time in a little over a year as sales take a nosedive.

The 2023 Mustang Mach-E in base Select RWD form is now priced to start at $41,695, including an $1,800 destination charge. That's down $3,100 from the previous pricing announced last May. Adding all-wheel drive still costs an extra $3,000.

The price cuts are even higher for more desirable grades. The GT now starts at $54,195 while the GT Performance Edition starts at $59,195. Both figures are down $7,600 from the previous pricing.

Price reductions on 2023 Ford Mustang Mach-E - Feb 20, 2024

Price reductions on 2023 Ford Mustang Mach-E - Feb 20, 2024

The biggest cut, a saving of $8,100, has been made to the Premium grade with the Extended Range battery and the California Route 1. Pricing for those grades now starts at $47,695 and $50,695, respectively. All figures include destination.

U.S. sales of the Mustang Mach-E in January were just 1,295 units, which was down 50% from the same period a year ago and down almost 75% from the prior month.

In a statement to The Verge, Ford spokesman Martin Gunsberg said the latest price cuts were “to adapt to the market to achieve the optimal mix of sales growth and customer value.”

It isn't clear whether the price cuts will extend to the 2024 model which will be available to order later this winter. The 2024 model will see the addition of a new Bronze Appearance Package for the GT grade, plus the off-road-ready Mustang Mach-E Rally grade. Ford has previously said the Rally will start around $65,000.