Due to the popularity of midsize SUVs, the market has been fiercely competitive in recent years. The Ford Explorer has been one of the leading contenders in this segment since the introduction of its sixth generation where it saw a major change in body style. In this article, we will look at the Explorer’s sales figures for the first two quarters of 2023 and speculate about the reasons behind the fluctuations between Q1 and Q2.

The Ford Explorer experiences a drop in Q2 2023

2022 Q1 sales were 42,736, and Q1 2023 saw impressive results for the Ford Explorer, with a remarkable year-over-year increase in sales. According to GM Authority, the for Q1 2023 stood at a robust 58,061 units sold during this period.

This substantial surge in demand could be attributed to various factors, such as successful marketing campaigns, attractive incentives, favorable economic conditions, and continued loyalty from existing customers. Additionally, the stylish makeover it received in 2020 may have attracted some new buyers.

Easing supply chain problems likely played a big role in the increase as well.

What caused the drop in Q2?

However, Q2 2023 witnessed a notable drop in sales, with only 42,736 units sold. This decline raises questions about what caused the dip and whether this trend is indicative of a larger issue. Several potential reasons could explain the drop in Q2 sales:

• Market Saturation: The midsize SUV market has become saturated, with many strong competitors vying for the top position in the market. As a result, competing brands have released their own updated models with more aggressive pricing, diverting customers away from the Explorer.
• Supply Chain Disruptions: The automotive industry, like many others, has faced supply chain challenges in recent times. Shortages of critical components, such as semiconductors, might have affected production capacities, leading to decreased availability and delayed deliveries, resulting in lower sales. Although those materials are slowly becoming more available, it definitely put a halt to new car production for a few years and it may take years for the automotive industry to catch up.
• Economic Conditions: Economic fluctuations can significantly impact consumer spending behavior. If Q2 experienced a downturn or uncertainty in the economy, potential buyers might have postponed their purchases or opted for more budget-friendly options. This coupled with rising interest rates might have affected overall sales.
• Seasonal Factors: It’s important to consider that car sales can be influenced by seasonal patterns. Q2 is at the beginning of summer when many families are planning vacations and using their money for other activities instead of shopping for a new car.

The Ford Explorer is still the best-selling midsize SUV this year

Despite the drop in Q2, the Ford Explorer has managed to maintain its position as one of the best-selling midsize SUVs this year. This resilience can be attributed to several factors:

• Brand Loyalty: Ford has built a strong reputation over the years, and many customers remain loyal to the brand. Previous positive experiences with Ford vehicles, including past Explorers, can influence repeat purchases.
• Overall Performance: The Ford Explorer has received favorable reviews from Car and Driver for its performance, safety features, and comfort. The Ford Explorer has been on the market for quite some time, so it’s had time to perfect and fine-tune features as well as predict with great accuracy what consumers want.
• Future Prospects: Ford might have exciting plans in store for the Explorer, such as upcoming refreshes, updates, or new technology integrations such as an EV version. The Ford Explorer Electric is expected to go on sale in early 2025, later than the expected date of 2024, according to TopElectricSUV.

The Ford Explorer experienced a significant year-over-year increase in Q1 2023, but Q2 saw a drop in sales. While several factors could explain this decline, it’s essential to remember that fluctuations in sales figures are not uncommon in the automotive industry.

The Explorer’s position as one of the best-selling midsize SUVs this year demonstrates its resilience and popularity despite the challenges it faced in Q2. As the year progresses, it will be interesting to see how Ford continues to adapt and innovate to maintain its market presence and attract new buyers.