Mustang Mach-E prices in China have been cut by as much as RMB 28,000 in response to price cuts by .

(Image credit: Ford China)

The Mustang Mach-E, one of Tesla's Model Y competitors, has had its price in China cut by Ford, following moves by Tesla last week.

The entire Ford Mustang Mach-E lineup will undergo a price adjustment starting today, according to an October 31 announcement from the company's China electric vehicle division.

The Mustang Mach-E is offered in four versions in China, priced at RMB 275,900 ($37,990), RMB 316,900, RMB 369,900, and RMB 389,900 before the price cut.

The lowest-priced version is the post-subsidy price, while the other versions are not eligible for China's national purchase subsidy, as the pre-subsidy prices are higher than RMB 300,000.

After today's adjustment, the prices of these four versions are RMB 249,900, RMB 288,900, RMB 349,900, and RMB 369,900, a reduction of RMB 26,000, RMB 28,000, RMB 20,000, and RMB 20,000, respectively.

It is worth noting that Ford emphasized in its announcement that the two models currently priced at RMB 249,900 and RMB 288,900 are stock vehicles, that is, vehicles with a production date earlier than the consumer paid a deposit.

Ford's move was a reaction to Tesla's price cut in China, as the headline of its announcement on WeChat read that it followed, although it did not directly mention Tesla.

On October 24, Tesla lowered the prices of its entire Model 3 and Model Y lineup in China, with the entry-level, rear-wheel-drive Model Y's latest post-subsidy starting price at RMB 288,900, down from the previous RMB 316,900.

On April 13 last year, the Ford Mustang Mach-E was unveiled in China and began accepting reservations. On December 26 last year, Ford delivered the first Mustang Mach-E vehicles in China.

Since deliveries began, the Mustang Mach-E has sold only a few thousand units in China, local media reports indicate.

By comparison, Tesla's Model Y sold 46,694 retail units in China in September, the most of any SUV in the country, a China Passenger Car Association list from earlier this month showed.

Ahead of Ford, -backed new energy vehicle brand AITO has begun offering discounts to car buyers.