While new vehicle inventory has improved across the board over the past few months following years of shortages, this phenomenon doesn’t apply to every model. In fact, vehicles like the Ford Maverick continue to face tremendous demand, which – combined with production constraints – has led to precious few pickups on dealer lots. This much is obvious to anyone that’s been paying attention, but it’s also reflected in new data from S&P Global Mobility as well.
According to that organization’s latest new vehicle inventory trends report, the Ford Maverick remains an elusive find for customers, as there were just 3,386 units of that particular model on dealer lots as of a couple of weeks ago, which is a very small number, indeed. Making matters worse, sales far exceed that figure, as FoMoCo moved 21,021 Mavericks in the second quarter of the year.
Of course, this problem is nothing new, as many Ford Maverick customers have waited long periods of time to take delivery of their vehicles, or even had to watch as their order was pushed back to the next model year. The popularity of the Maverick Hybrid also prompted Ford to make that powerplant an option versus standard equipment for the 2024 model year, and is also why the compact pickup isn’t being sold with any sort of factory incentives.
In terms of the overall automotive new vehicle market, inventory continued to drop at the end of the month before surging in the first two weeks of the following month. Overall, total advertised dealer inventory declined slightly to 1.966 million units, but remains far higher than the first quarter of the year. In fact, new vehicle inventory has increased by roughly 50,000 units each month since the end of December 2022, when it stood at 1.6 million units.