New Ford Inventory Over 100 Days’ Supply In August 2024

During the course of the COVID-19 pandemic and for some time after, new vehicle inventory was routinely hovering around record low levels due to production shutdowns and supply chain constraints. However, that changed in a big way mere months ago, as new vehicle inventory has since roared right back to – and in many cases above – typical levels. This is certainly true of new Ford inventory, which has long been among the highest in the industry – a fact that didn’t change in August 2024.

According to new data from Cox Automotive, new Ford inventory closed out August at a 105 days’ supply, which was once again one of the very highest in the industry, as well as far above the average of 77 days’. This is certainly not surprising, as new Ford inventory in May finished at a 101 days’ supply, though in July, it actually declined to a mere 85 days’ supply. Regardless, the automaker has expressed concerns about its high inventory levels for some time now.

As for the overall market, its average new vehicle days’ supply of 77 is below the average recorded in the first half of the year, at 83 days, but well above days’ supply recorded a year ago, which was below 60. The total U.S. supply of available unsold new vehicles opened September at 2.84 million units, a mere 6,073 units more than the beginning of June. This increase in inventory comes despite the fact that sales increased 14 percent over last year, too.

The average list price for a new vehicle at the end of August was $46,841, down around one percent from a month earlier and 0.7 percent compared to last year. The average transaction price of a new vehicle in the U.S. in August was $47,870, which is 0.6 percent lower than July, while the average incentive came in at 7.2 percent of ATP (or $3,383) last month, which is seven percent higher than July and an increase from August 2023’s 4.8 percent of ATP.