Lincoln dealers are facing a big issue. They have lots of cars from one or two years ago that they haven’t sold yet. This means they have more cars on their lots than they should.
Automotive News says this gives Lincoln dealers some of the highest inventory levels in the industry. However, this also means good deals are available if you want to buy a Lincoln.
By the end of February 2024, Lincoln dealers had too many vehicles sitting on their lots. Cox Automotive data shows they had about four months’ worth of vehicles. Most of these vehicles are from the previous model years.
For example, there are still many 2022 and 2023 new Lincolns for sale across the country. Some have been on sale for a long time, like a new 2023 Navigator that’s been on sale for 391 days at a dealer in Northern California.
There are several reasons for this. One reason is that there were problems with the supply of cars after years of shortages. Also, there was a stop sale on the Aviator for a few months because of a defective rearview camera system. And there was a strike at the Chicago plant where it’s built. Another reason is that the launch of the freshened Corsair was delayed due to software issues in early 2023.
While some dealers see this as a chance to sell more cars, many others are worried because it costs money to keep these cars on their lots. They also need to sell and market the newer models. But this situation is good for customers.
Dealers are offering discounts to get rid of these cars. Data shows Lincoln dealers are offering an average of $4,665 in incentives per vehicle during the first two months of 2024. This is 65 percent higher than last year. But the deals may vary depending on where you are.
For example, at West Point Lincoln in Houston, Texas, you can lease a 2023 Nautilus for $199/month at 0.9 percent APR for 24 months with $6,452 down. But at South Coast Lincoln in Santa Ana, California, the same lease will cost you one percent more. So if you want to buy a Lincoln, there’s no rush. You have plenty of time to get a new Lincoln from a year or two ago.
Also read: Lincoln’s Strategy Shift: Tech Focus Over Electric Vehicles
