New Lincoln inventory levels have long been far higher than the overall average, and in fact, have ranked at or near the top of the pack over the past several months. Along with Ram, Lincoln was one of just two automotive brands with inventory levels that were at least double the industry average of 68 days’ supply in July 2024, which has been the case for quite some time now. As Ford Authority previously reported, new Lincoln inventory levels have been causing issues for dealers, who in some cases are sitting on as much as a four months supply, and unfortunately for them, not much changed in August, either.
According to new data from Cox Automotive, new Lincoln inventory levels were once again more than double the industry average of a 77 days’ supply, which is also the case with Alfa Romeo, Ram, Jaguar, and Mini. Lincoln previously had a days’ supply of inventory that was more than double the industry average for many months until it finally dipped below that threshold in February, but in July, it managed to decrease slightly, to a 145 days’ supply of inventory before bouncing back in August. While Lincoln is seemingly headed in the wrong direction here, the Ford brand also closed out August at a 105 days’ supply, which was also one of the very highest in the industry – as well as higher than May’s 101 days’ supply and July’s 85 days’ supply.
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.
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