Is America’s favorite pickup truck, the Ford F-150, on the decline? This massive truck isn’t attracting buyers like it used to, while rivals like the GMC Sierra 1500 are gaining popularity. Why is the 2022 Ford F-150 facing reduced sales?
Is the 2022 Ford F-150 the best-selling truck?
Yes, the 2022 Ford F-150 remains the most popular truck for the 46th consecutive year. So it can be hard to feel compassion for him as he battles declining sales. According to CNBCFord Motor Company sales declined 2.2 percent in 2022.
But things could be looking up. Sales of the F-150 fell about 13% in November, but only faced a 9.9% drop in December. There was an increase in F-Series truck sales in December, up 3.2 percent.
Some 75,000 Ford F-150 models were sold in December, making it the best month of the year. This is a 20.1% increase from December 2021. But while the F-150 is still down, General Motors increased sales by 2.5%.
Ford couldn’t make up for declining sales in 2021, but it narrowed the gap a bit. Andre Frick, Ford’s vice president of sales, believes Ford Motor Company is in a good position by 2023, but did not release projected sales figures.
Why are F-150 sales down?
The 2022 Ford F-150 could still face supply chain disruptions, inflation, and interrupted production. While the semiconductor chip shortage may last until 2024, it’s not the only supply constraint.
Ford has battled shortages of rubber for tires, shortages of foam for seats, hardtop supply problems, and even shortages of blue oval badges. Ford has been building incomplete F-150 models and storing them until the necessary parts arrive.
That’s why there are lots of Ford F-150 trucks that just sit nice. The rows of trucks can be seen from space.
Also, the current outbreak of coronavirus (COVID-19) has not helped. Ford factories have faced closures to keep workers and their families safe.
It typically takes six to eight weeks to build and ship a new 2022 Ford F-150 model. However, lead times have been as high as 30 weeks.
Also, the 2022 Ford F-150 Hybrid fell off the map. Sales of the F-150 Hybrid are down 41% compared to the third quarter of 2022 and 2021. It ranks as the least reliable truck.
How much does the 2022 F-150 cost?
Pricing for the 2022 Ford F-150 starts at $31,520, but the 2021 F-150 starts at $29,290. Now, the 2023 Ford F-150 starts at around $34,585. That’s a rampant price increase of $5,295 from 2021.
Additionally, the 2023 F-150 has a shipping fee of $1,795 and prices listed are MSRP. They do not include dealer profit margins. Adding 4x4s to the 2022 F-150 costs between $3,425 and $4,645, depending on trim level.
The decline in sales of the 2022 Ford F-150 could be related to inflation. However, that did not stop the drivers in December. In addition, Ford could further recover F-150 sales in 2023 thanks to the addition of the F-150 Rattler, the new affordable off-road model.