Air Canada walks back new seat selection policy change after backlash
Air Canada has paused a new seat selection fee for travellers booked on the lowest fares just days after implementing it.
Ford Motor Co on Monday cut prices of its electric crossover SUV Mustang Mach-E by as much as US$5,900 per vehicle, weeks after rival Tesla Inc slashed prices globally on its electric vehicles by as much as 20 per cent.
Shares of Ford were down 1.5% in early trading. Tesla was flat.
The move comes as electric vehicle manufacturers are feeling pressure from Tesla's price cut to respond.
"Ford just cut Mustang EV prices in response to Tesla's price cut. Mini price war about to begin with EVs in the US with Tesla's shot across the bow on price cuts," said Dan Ives, an analyst at Wedbush Securities, on Twitter.
The move will make at least one version of the Mach-E again eligible for the $7,500 tax credit, which requires the Ford EV to have a suggested retail price of no more than $55,000 to be eligible.
Ford had already planned to increase Mach-E production this year to 130,000 vehicles from 78,000 in 2022, and said in November it was accelerating Mustang Mach-E production and targeting global annual production rate of 270,000 by the end of 2023. Ford builds the Mach-E in Mexico and China.
"Tesla's price cut was a major blow to the prospects of competing EV models and the Mustang Mach-E directly competes with Tesla's Model Y," said Garrett Nelson, an analyst at CFRA Research.
Ford is cutting prices by up to 8% on various versions of the Mach-E, as well as cutting the price of the extended range battery by about 19%. The lowest-price models are getting smaller $600 to $900 price cuts.
Ford Chief Executive Jim Farley said on Twitter, "scaling will shorten customer wait times. And with higher production, we're reducing costs, which allows us to share these savings with customers."
Ford sold 39,458 Mach-Es in the United States last year, up from 27,140 in 2021.
Ford said existing Mustang Mach-E customers awaiting delivery of vehicles will automatically receive the price cut.
(Reporting by David Shepardson in Washington, Joseph White in Detroit and Aishwarya Nair and Nathan Gomes in Bengaluru; Editing by Krishna Chandra Eluri and Nick Zieminski)
Air Canada has paused a new seat selection fee for travellers booked on the lowest fares just days after implementing it.
An ongoing municipal strike, court battles and revolt by half of council has prompted the province to oust the mayor and council in Black River-Matheson.
Three officers on a U.S. Marshals Task Force serving a warrant for a felon wanted for possessing a firearm were killed and five other officers were wounded in a shootout Monday at a North Carolina home, police said.
A Calgary elementary school principal has been charged with possession of child pornography, authorities announced Monday.
The Vancouver Island Health Authority is downplaying what staff describe as a cockroach infestation in a medical unit of Saanich Peninsula Hospital.
Toronto police say 12 people are facing a combined 102 charges in connection with an investigation into a major credit fraud scheme.
One of the winners of a historic US$1.3 billion Powerball jackpot last month is an immigrant from Laos who has had cancer for eight years and had his latest chemotherapy treatment last week.
Britney Spears and her father Jamie Spears will avoid what could have been a long, ugly and revealing trial with a settlement of the lingering issues in the court conservatorship that controlled her life and financial decisions for nearly 14 years.
The clock is ticking ahead of the deadline to file a 2023 income tax return. A personal finance expert explains why you should get them done -- even if you owe more than you can pay.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.
The lawyer for a residential school survivor leading a proposed class-action defamation lawsuit against the Catholic Church over residential schools says the court action is a last resort.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.