Ford shuts off orders for new $20,000 Maverick pickup
Summary
Auto maker says demand for new truck has surged and it has hit limit on what it can buildFord 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.
The move is a sign that American shoppers are hungry for more-affordable options as prices for new cars and trucks hit new records and availability remains constrained on dealership lots.
Ford told dealers Monday that it is suspending customer orders for the Maverick pickup truck because it is already straining to fill a backlog. The company will resume taking orders for the 2023 Maverick in the summer, it said in a memo to dealers, reviewed by The Wall Street Journal.
“We didn’t want to take more orders than we could build," said Dean Stoneley, general manager of Ford trucks, in an interview. “We’re getting customers who would have perhaps bought a used car and are now buying the Maverick because it is so affordable."
The strong reception for the Maverick—which starts at about $20,000—comes as car prices soar and auto makers offer fewer entry-level choices, dealers and analysts said.
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.
Now, with thin dealer inventory from a nagging computer-chip shortage creating a seller’s market, shoppers are struggling more than ever to afford new wheels, data show.
Dealers have had trouble keeping vehicles of any type in stock because of the chip shortage, which has crimped production for the past year. Ford dealers say the Mavericks that arrive on their lots already are earmarked for customers who preordered them.
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, Mr. Lemley said. “We desperately needed something in that price range," he said.
Ford rolled out the Maverick last year as a more-manageable alternative to the big pickups that now dominate the U.S. market. The truck has drawn many first-time truck buyers who migrated from sedans or small SUVs, dealers say.
