New vehicle inventory levels in general have hovered near record low levels for the better part of three years now, a development largely spurred on by the pandemic and resulting supply chain issues. However, there are signs that conditions are beginning to improve, as inventory has slowly creeped upward while prices have declined slightly over the past two months or so. As for the perennially best-selling Ford F-150, its inventory levels have increased since last year, according to new data from CarGurus, as is also the case with the Ford Explorer.
In its latest Intelligence Report for February 2023, CarGurus notes that overall new vehicle inventory increased by 3.4 percent month-over-month in February, while prices also appear to have plateaued at this point. On the same token, Ford F-150 inventory is leading the way in that regard with the most improvement of any new vehicle on the market, as its total inventory variance increase came in at just over seven percent last month when compared to February 2022.
As for the Ford Explorer, its inventory levels grew by three percent over that same time period, which was the fourth best improvement of any new model. It trailed the F-150, Chevy Silverado 1500, and GMC Sierra 1500 in that regard, but also ranked ahead of the Nissan Rogue, Jeep Wranger, Buick Envision, Jeep Compass, Jeep Grand Cherokee 4xe, and Jeep Wrangler Unlimited 4xe to round out the top 10.
In the meantime, Ford is working to increase production of some of its more popular models, while both Ford Pro CEO Ted Cannis and FoMoCo CEO Jim Farley expect the chip shortage to ease in the coming months, helping to improve inventory and lower prices at the same time.
We’ll have more on the Explorer and current new vehicle inventory levels soon, so be sure and subscribe to Ford Authority for more Ford Explorer news and continuous Ford news coverage.
I don’t know if ‘increased’ is the right description… rather inventories are ‘returning to normal’.
The spin masters could make a pile of 🤢look good…too funny!
The Explorer suffers from extreme QC issues, its one of the most recalled Ford models currently being produced. Cheaper materials, supplier issues, poor design all play a roll. The same money that Ford wants for a top trim Explorer can get you a significantly better vehicle from another OEM. Big changes better happen with the 24 model year or the Explorer will continue to destroy itself.
… you seem binary.
Returning to Normal???? YA, No One’s Buying them, That’s why! And Before they buy one, Make sure the Recall’s are all Completed before leaving the Dealership. Just Saying.
Boomer, you are aware dealers can’t deliver a vehicle with open recalls.
Dodson, I wonder if going all electronic has caused too many reprogrammed recalls. Quality is he lowest I have ever seen. And, Ford has stepped back on vehicle re purchase/RAV leaving customers out to dry. No remedies.