As Ford Authority previously reported, new Ford inventory levels remained quite high coming out of September in spite of the United Auto Workers (UAW) strike that impacted a handful of Blue Oval facilities for roughly six weeks before the two sides reached a tentative agreement in late October, which prompted the automaker to offer discounts on select models that had been hanging around on dealer lots for a while. While that isn’t true of every Blue Oval model – as is clear from the automaker’s most recent sales report – overall, nationwide Ford inventory levels remain at a high level even now, according to new data from Cox Automotive.
In fact, new vehicle inventory, overall, was actually higher entering November than it was going into October, with a 67 days’ supply versus 60 days’ – which was also 41 percent higher than the start of November 2022, and the last time days’ supply hit the 60 days’ mark was March 2021. At the same time, the number of available unsold new vehicles climbed to 2.40 million units, which is 62 percent, or 919,000 units higher than a year ago.
As for Ford, it touted an even higher inventory level of 95 days’ supply in October, which ranked it behind only Dodge, Chrysler, Jeep, Lincoln, Infiniti, Buick, Genesis, Audi, Mazda, and Mini – good news for consumers that have been in the market for a new vehicle, though high interest rates and inflated pricing may still keep them at bay for the time being, which is reflected in sales dips as of late.
“Days of supply is creeping higher as the sales pace is slowing at the start of this year’s final quarter,” said Cox Automotive Senior Economist Charlie Chesbrough. “The supply issues that started in 2021 appear to have passed as most brands have seen their availability improve substantially. However, market headwinds from high interest rates and high prices are muting sales. As we enter the holiday sales season, greater discounting from the automakers seems likely. Otherwise, the days of supply will rise even further.”