Posted on 01/26/2022 6:04:34 AM PST by blam
When demand is so overwhelming that you have to stop taking pre-orders, that’s usually a good sign – even when you’re battling a supply chain crisis.
This was the case with Ford’s new Maverick pickup truck which, priced at $20,000, has attracted so much demand that the automaker has been forced to stop taking orders until 2023.
With auto prices skyrocketing over the last 18 months, the Wall Street Journal reports that the demand is a surefire sign that customers are “hungry for more-affordable options” in the auto market.
On Monday of this week, dealers were told that Ford is “suspending customer orders” because it is “already straining to fill a backlog”. The company will resume taking orders this summer.
Dean Stoneley, general manager of Ford trucks told the WSJ: “We didn’t want to take more orders than we could build. We’re getting customers who would have perhaps bought a used car and are now buying the Maverick because it is so affordable.”
Chris Lemley, president of Sentry Auto Group in Boston called the move “unusual”, but also said that it’s “appropriate under the circumstances to avoid customer disappointment.”
“We desperately needed something in that price range,” he said of the Maverick’s $20,000 tag.
Recall, in late December we noted that used car prices had smashed through yet another record high. The Manheim Index, the most recognized wholesale used-vehicle price index by financial and economic analysts, reported that the wholesale used car index rose 3.1% in the first 15 days of December compared to November. The overall index has jumped a mindboggling 48.9% from December 2020.
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“On a year-over-year basis, all major market segments saw seasonally adjusted price gains through the first 15 days of December. Pickups had the smallest year-over-year gains, vans had the largest at 63.3%, and both non-luxury car segments outpaced the overall industry in seasonally adjusted price growth. Compared to November, SUVs and vans had the smallest growth in the first half of December, while compact cars had the largest gain,” the report said.
Heading into the new year, Goldman Sachs chief economist Jan Hatzius provided clients with an outlook on the automobile market. He expects “further increases in new and used car prices during the first quarter of 2022, but outlines “new car prices peak in Q2 (vs. Q1 previously) and used car prices peak in Q1 (vs. December 2021 previously).”
Hopefully, for those looking to get their hands on a Ford Maverick this summer, price rises offer a slight respite.
I have no experience in marketing, auto manufacturing business, etc, but even I could predict that a decent PU truck priced at 20 would be a huge hit, now where do I get one :) Good on Ford for producing a vehicle that people want and can afford. I have no intention of paying $50,000 to 70,000 for a car or truck.
Ford doesn't want to raise the price, so the high demand means the secondary market will soar. Any of the lucky owners can resell their truck for much more than they bought it.
(Yes, the reseller would then need to find another truck but depending on their situation, they may decide the resale as worth it).
A $20K pickup? Are we in a time warp?
Combination gas/electric. (The only reasonable approach to a battery vehicle. Does not require long recharge times.)
I’m guessing that 20k for such a vehicle is about 5k twenty years ago.
When you have so many orders the normal thing to do is raise the price until orders match production. I wonder if it has air conditioning.
I’m trying to think if ever there was a hotter, more desirable vehicle ever to have hit the market. And no, I don’t think there was. This Ford maverick is the best vehicle ever.
You want a hybrid? Here’s one priced about $10,000 less than a comparable Prius or Honda Civic. Do you want a pick up that meets 90% of your needs? Here’s one about $15,000 less than the average F150.
It really is no surprise that Ford cannot make enough of these to keep up with the demand. When they were taking orders, there were over 100,000 names on the list. No wonder they quit taking orders. It may be a year or two before they can make 700,000 to 1,000,000 Mavericks per year just to keep up with the demand.
$20,000?
👍👍👍
Made in Mexico. Scotty Kilmer just reviewed one on YouTube and likes it but is reserving judgement on its longevity.
The pictures look good, but I wonder just what kind of truck you actually get for $20K. Four cylinder? Manual transmission? Hauling or towing capacity?
It is a brilliant marketing move.
While other manufacturers are chasing CUVs, Ford staked its ground on a compact pickup, the Maverick.
The Maverick essentially replaces the entry-level Focus or Ecosport. It brings new customers into the Ford family where they can grow as their lifestyles change.
A Maverick as a first college vehicle.
Bronco Sport after graduation.
Explorer when you have wife and kids.
F-150 or Bronco as your second vehicle.
Ford truck owners have some of the most loyal customers. Now Ford can get them at entry level.
GM and Stellantis cannot do this.
I’d get one of these with the XLT for my daily commute and general weekend chores if I didn’t have to tow a travel trailer. Neat little unibody truck. Bet they’re going to score big on fleet sales.
Around my parts of the woods a $20,000 pick up will get you a nice used truck with 150,000 miles on the clock already.
I have no intention of paying $50,000 to 70,000 for a car or truck.
Gee, you mean you don’t want a 40 speaker system, heads up display, Fine Corinthian Leather seats, duel turbo chargers with intercoolers, gold plated wheels, 750 HP, and Y rated tires albeit the highest speed limits are 80MPH.
You get a Prius with a p/u truck body welded to it.
It has already been tested and has real truck credibility.
The Hybrid Maverick is FWD only, but gets 40 mpg. The AWD Maverick gets the 2.0 EcoBoost Turbo 4 cylinder that makes 250 horsepower.
Various sites have tested the Maverick for towing and hauling near its capacity and it performed just as a truck owner would expect.
But many of these will be used as lifestyle vehicles.
Also, wondering if it can be bought with the built-in generator? If yes, then maybe folks are buying it to power their homes during power outages. Live in texas and still having flash backs of last Februarys ice storm…..
“Any of the lucky owners can resell their truck for much more than they bought it.”
Only if Ford stops production. Why jump in an buy an used vehicle for more when a new one can be bought for less.
My dad said no one would ever pay $20k for a truck.
I’ve done a lot of research on this truck. I really want one. Yes they have a four-cylinder engine. Either a hybrid or a turbo. If you get a hybrid you can expect up to 40 miles per gallon which is fantastic. If you get the turbo you can tow up to 3500 pounds. Which ever engine you get comes with an automatic. No standard transmission.
Critics may scoff that this is not a real truck. Whatever. Most pick up owners carry nothing but air in the bed of their truck 90% of the time. So if you need a real truck, go and buy one. A big F150 XLT 4 x 4. For 50 or $60,000.
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