Ford Motor Co. is taking the unusual step of cutting off customer orders for the Maverick, a more-affordable pickup that it rolled out last fall, saying it has maxed out on what it can build.
New-car prices had been outpacing inflation for several years even before pandemic-related supply-chain disruptions sent prices sharply higher. Last year, the average price consumers paid for a new vehicle jumped 13%, to a record $40,457, according to research firm J.D. Power.
Shutting off customer orders is unusual, said Chris Lemley, president of Sentry Auto Group, a Boston-area Ford-Lincoln-Mazda dealership. "But it’s appropriate under the circumstances to avoid customer disappointment."Most Mavericks are selling in the mid- to high-$20,000 range, Lemley said. "We desperately needed something in that price range," he said.
Ford’s move to ditch entry-level cars frustrated many dealers, who said it left them few options to offer shoppers for less than $30,000. Affordability of new vehicles hit a historic low in December, according to an index from Cox Automotive and Moody’s Analytics. The number of weeks of income needed to purchase a new vehicle hit 43 on average in December, the firms said. The index ranged between 32 and 36 weeks for nearly a decade before it began rising sharply in 2020.
Stoneley declined to say whether the Mexico-built Maverick is profitable but said Ford is able to reduce costs because the truck is built with many common parts from other models, including the Escape and Bronco Sport SUVs.
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