While overall Ford inventory remains at low levels – just a 14 days’ supply as of the end of Q2, as Ford Authority reported earlier this week – that isn’t true of every model in The Blue Oval’s lineup. In fact, Ford F-Series dealer stock was higher than any of its rivals as recently as this past April, when dealers had 83,000 Ford F-150 and Ford Super Duty pickups in stock. As such, used F-150 models have also experienced smaller price changes than average, even though 2022 Ford F-150 retail orders were cut off back in May. According to new data from Cox Automotive, the 2022 Ford F-150 is also among the top-selling vehicles with the highest days’ supply, too.
Full-size pickup truck inventory has been growing steadily regardless, with the Ram 1500 having the highest inventory at 88 days’ supply as of August 9th. It was followed by the Chevy Silverado at 71 days’ supply, while the 2022 Ford F-150 ranked fifth with a 48 days’ supply. Cox Automotive attributes this uptick to higher gas prices, combined with inflation and the resulting affordability challenges, coupled with a weakening housing market.
Prior to a surge in gas prices, full-size trucks were the third most researched segment on Kelley Blue Book, but recent increases pushed that segment down to eighth as shoppers instead turned to mid-size trucks, EV pickups, and mid-size, compact, and full-size crossovers and SUVs. Shopping for all-electric pickup trucks has risen by 57 percent since January due to gas prices and the introduction of the Ford F-150 Lightning, GMC Hummer pickup, Rivian R1T, and the debut of the Chevrolet Silverado EV.
These patterns are quite similar to what happened back in the spring and summer of 2008 when the housing bubble burst and a recession ensued, at which point gas prices spiked and consumers rushed out to purchase smaller, more fuel efficient vehicles and hybrids. However, a few months later, that trend reverted back to full-size trucks and SUVs.