Higher Prices for the 2024 Ford F-150 Caused a Sales Dip
Truck prices are going up, up, and up! But the new Ford F-150 may have discovered that it’s approaching the limit. The 2024 Ford f-150 is experiencing a sales decline and higher prices could be to blame.
How much does the 2024 Ford F-150 cost?
The 2024 Ford F-150 has an MSRP of $36,770 and the $1,995 destination fee brings the total up to $38,765. The 2023 F-150 starts at $34,585 and the $1,895 destination fee increases the total to $36,480.
So, the F-150 has a year-over-year starting price increase of $2,285. That might not sound too bad for the basics, more power, and a refreshed look. However, the King Ranch trim is $10,505 more than the outgoing model.
In the fourth quarter of 2022, the F-150 sold 179,793 units but during the fourth quarter of 2023, the F-150 only moved 165,514 models. This is a sales decrease of 14,279 trucks or -7.94%. The truck still accounts for 85% of sales, though. So, Ford probably isn’t sweating yet.
But high prices might not be the only culprit here. The 2024 F-150 didn’t start shipping to dealerships until February. People are still waiting to receive their orders.
Plus, the United Autoworkers (UAW) strike had an impact on production. It caused Ford production plants to be closed for six weeks, putting things behind. The truck plant in Dearborn, Michigan, and Kansas City, Michigan where the F-150 is built were both impacted.
Now the Key Bridge collapse in Baltimore could cause new delays as it’s a major port for Ford vehicles and supplies.
Also, the 2024 Ford F-150 currently has limited availability. The F-150 ordering page states that due to high demand and global supply chain constraints, not all models and features or trims are available to order.
It’s unclear which parts Ford is waiting for. However, some truck models are piling up around Michigan, suggesting that trucks are being built and are waiting for something to come in before being completed.
While many reservation holders were told that their truck should arrive in February, but rumors suggest that orders could be pushed back until April or May.
