New Ford Inventory At 85 Days’ Supply In July 2024

It wasn’t too terribly long ago that new Ford inventory levels were near record lows, which was true of most automakers. This was due to production shutdowns and supply chain shortages stemming from the COVID-19 pandemic, which led to skyrocketing prices and a run on the used vehicle market as well. Things have since largely returned to normal, with new Ford inventory levels rising quickly throughout much of 2024, though July saw that figure retract a bit.

In April and May, new Ford inventory levels came in at over a 100 days’ supply, which was one of the highest in the entire industry – numbers that sparked concern from Ford CFO John Lawler. However, new data from Cox Automotive shows that new Ford inventory levels have declined since then – all the way down to an 85 days’ supply at the end of July. That’s still higher than the industry average of 68, but a big improvement, regardless, especially when compared to rivals like Dodge and its 131 days’ supply.

As for the overall market, it experienced a significant 43 percent drop in days’ supply of new vehicle inventory versus June, with 2.79 million units of unsold vehicles sitting on dealer lots. According to Cox Automotive, the cyberattack suffered by CDK Global is at least partly to blame, as created some volatility in the reporting of sales and days’ supply across its data sets. Regardless, the number of unsold vehicles available at the end of July was 3.6 percent lower than the conclusion of June.

As far as average list pricing for new vehicles goes, that figure came in at $47,307 at the end of July, which is $159 lower than the same month in 2023. That number is expected to continue its downward trend moving forward as incentive spending continues to increase, however.

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