Now we get to the unfortunate part of our Mach-E GT review – the recent price hike. Ford has struggled to keep production costs level for its EV models, meaning the 2023 Mach-E GT sees a nearly $8,000 price increase compared to last year’s model.The base GT now costs $69,895, making it more expensive than the BMW i4 M50, which starts at $67,300 and delivers 536 hp. Opting for the GT Performance Package adds another $6,000 to the price, putting the Mach-E just a few thousand dollars short of the supercharged Shelby GT500. It’s a performer, but not at that level.The $7,500 federal tax credit softens the blow a bit, but nearly $76,000 seems like a lot to spend on an EV without a luxury badge. Ford’s most direct competition will come from the Kia EV6 GT, which charges faster and produces more power, but won’t come with the tax credit for 2023 or match the Mach-E’s range.More worryingly, the price increase now puts the Mach-E GT within spitting distance of the Tesla Model Y, which should regain its tax credit next year and offers over 300 miles of range. We enjoyed driving the Mach-E GT, but it’s now a bit too expensive to recommend. Stick with the regular Mach-E; it’s great value for money.