As supply chain shortages ease and automotive production continues to ramp back up, we’ve seen quite a bit of improvement related to inventory levels over the past several months, even as a six-week-long United Auto Workers (UAW) strike threatened to put a dent in it. After posting a 70 days’ supply to end 2022, new Ford inventory levels hit a 75 days’ supply in June, but things got far worse by the end of Q3, when that number plunged to a 19 days’ supply. The Blue Oval bounced back to a 67 days’ supply entering November, however, and as average transaction pricing continues to decline, new Ford inventory reached a new recent high last month, too, according to new data from Cox Automotive.
Last month, new Ford inventory levels surged to a 105 days’ supply, which was among the highest of all automotive brands in the U.S. Jeep led the way with a 128 days’ supply, followed by Infiniti (120), Ram (114), Volvo (106), Mazda (106), Buick (106), Ford, Audi (104), Nissan (101), Genesis (99), Mitsubishi (96), Mini (94), Acura (82), Volkswagen (78), Mercedes-Benz (77), GMC (73), Porsche (72), Chevy (71), Hyundai (62), Cadillac (61), BMW (59), Subaru (58), Land Rover (57), Kia (48), Lexus (47), Honda (40), and Toyota (32).
On the same token, the average new vehicle supply in the U.S. reached 2.56 million units last month, which is 57 percent or 925,000 units higher than the same time period one year ago. The Cox Automotive days’ supply figures are based on the daily sales rate for the most recent 30-day period that ended early this month, when sales totaled nearly 1.01 million units. Sales for the full month of November were up seven percent from a year ago and up almost two percent from October.
As Cox Automotive points out, this glut of inventory is prompting some automakers to scale back production, particularly in terms of all-electric vehicles, which ended November with a 114 days’ supply, overall.
We’ll have more on Ford’s inventory levels soon, so be sure and subscribe to Ford Authority for ongoing Ford news coverage.
Comment
Where is Ford currently at with production of upper end F350 superduty trucks? I’ve been waiting for 3 years.
They are about to lose me as a 4 decade customer!