It's much easier to work out how to stat something when you have it in hand to test and dick around with. And, as usual when doing things in GURPS, I over-complicated things. McThag said it was pretty much just Cheap, which I agreed with on the lost damage (utility edge isn't as sharp as regular, etc), but wasn't sure about the increased odds of breakage seeming wrong. Naturally I went to trying to make a new rule, as opposed to the better option of "Machetes just bend a bit rather than snapping", resulting in penalties to use but an otherwise easily fixed and still functional blade.
I also mis-remembered the mass-produced modifier given as being 75% instead of 60%, so no change to that, although I will rule that the powers of modern mass production can allow it to be applied to most modern factory-made swords (there are plenty of handmade swords still to be found for comparison, and the price difference is just about right).
And, because why not, some stats
CS Cutlass Machete: Splits the difference between cavalry saber and cutlass due to borderline size, with elements of falchion due to balance; mass produced, cheap quality (machete). Given time and equipment, may be sharpened to a good edge, at the cost of shorter edge longevity (stats given are for good quality, which requires time to sharpen).
Sword (Broadsword or Shortsword)
TL Weapon Damage Reach Parry Cost Weight ST Notes
8 Cutlass Machete SW+1 cut 1 0 $36 2 lb 10 Hilt Punch
THR imp 1 0 - 10
Handguard provides DR4 against crushing, DR2 vs everything else
CS Bowie Machete
Mass produced (60% cost), high tech good quality (40%) Long Knife.