Ford Has Fourth Highest Share Of 2023 Models At Dealer Lots

Following the onset of the pandemic in early 2020, new vehicle inventory reached new record lows due to production pauses and supply chain issues, a problem that persisted for years. However, with many of those issues now in the rear-view, some automakers have found themselves on the opposite end of the spectrum, dealing with large levels of inventory amid high interest rates and elevated pricing. That list has long included Ford, which now finds itself sitting on a large number of leftover 2023 models, it seems.

In fact, Ford has the fourth highest share of 2023 model year vehicles still sitting on dealer lots, according to Edmunds, as those models account for 14.7 percent of the total market. That ranks Ford behind only Dodge (52.6 percent), Chrysler (38.4 percent), and Buick (17.6 percent). Additionally, The Blue Oval’s average discount on those models remains somewhat low at $3,149, compared to $6,753 for Dodge, $6,252 for Chrysler, and $4,256 for Buick. As for the overall market, previous model year inventory grew from 5.4 percent last May to 6.8 percent this past month, while average discounts rose from $1,919 last year to $4,147 in May 2024.

“Supply chain disruptions and limited inventory left little to be excited about in summer holiday car shopping the past few years, but discounts on outgoing model year vehicles this Memorial Day weekend are a bright spot for consumers in an otherwise challenging market,” said Jessica Caldwell, Edmunds’ head of insights. “For dealers and automakers, the trend serves as a moment of caution surrounding the old habits of overproduction and inventory glut. It’s also a reminder that the expensive vehicles now being discounted were strong sellers one to two years ago, showing just how significant high interest rates are in today’s market.”

While some of FoMoCo’s growing inventory levels stem from purposeful action – the automaker did ramp up production of the 2023 Ford F-150 in an effort to stay competitive while the refreshed 2024 model was undergoing quality reviews – that can’t be said of the entire lineup. In fact, new Ford inventory levels ended April at a 100 days’ supply, which was the highest since January and far above the industry average of 76 days’.

We’ll have more on the state of Ford inventory levels soon, so be sure and subscribe to Ford Authority for comprehensive Ford news coverage.