Nearly 45,000 customers are waiting on parts for their new Ford trucks and SUVs, and this is currently running up an estimated $1 billion loss for the automaker.
Earlier this week, Ford Motor Co. said it will end up with between 40k and 45k trucks and SUVs sitting on lots that can’t be shipped due to missing parts, according to a CNN.com story.
Shortages hammering Ford trucks
The reason for all the Ford trucks and SUVs sitting around is the ongoing parts shortages from a clogged global supply chain.
We’ve talked with Ford and other brands who have all said they are not just running out of the much-covered semiconductor chips. Instead, they are running out of literally everything.
Items such as rubber molding, seat foam, aluminum, etc., are causing plants to idle for weeks at a time.
Compounding the issues are the lack of transport companies able to meet the surge in demand to get trucks from rail yards to dealerships.
All of these issues are causing automakers to report lower sales, send trucks without features to be added later or simply closing order books rapidly to tamp down demand like the case of the 2023 Ford Maverick which closed its order books just five days after it opened.
Ford’s $1B loss
Including in the announcement about the number of vehicles awaiting parts was the company warning it will lose $1 billion due to the shortages and rising prices of supplies.
Ford declined to name the suppliers who have raised prices, but it said negotiations on various supplies are raising costs.
The largest supplier cost increases seem to revolve around electric vehicles with Ford raising prices of its popular Mustang Mach-E and F-150 Lightning by thousands of dollars year over year.
There have also been increases in its popular F-150 lineup of trucks as well as some deletions of base trim levels, which raises prices as well.
The bottom line
Long waits for vehicles, raising prices and raising costs for automakers are translating into frustrated consumers. These shoppers are paying more not only for a new vehicle but also rising interest rates. What does this all mean? Now is not a great time to buy a new vehicle.
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4 comments
Samuel
I have a 2014 f150 with a 6 speed transmission. The sensor behind the valve body went out and the sales person at Ford rather than parts person at ford told me that there is 40,000 people waiting on this part. So I can’t drive my truck until I get this part replaced on my truck. It costs $1000 at the shop to replace that sensor and I have to wait until 40,000 people in front of me get the sensor before me, I’m just grateful that my truck is paid off and I am not still making a note on it and can’t drive it. Somebody need to do something about this 40,000 people in front of me for a sensor. That’s ridiculous. ..
Sheryl Appleby
We purchased a 2017 Ford F150 and the engine went out on us. We have been waiting for a new motor from Ford for over 6 months. We checked on the status just this month and found out that we haven’t even moved on the waiting list. We are without transportation and paying for a truck we can’t use. No one knows why we don’t have a motor yet at the dealerships and no one can help us! Ford needs to focus on their assisting customers that have purchased a vehicle instead of building electric trucks!!! We need our motor! Please FORD help us!!!
Marc
I have a 2016 F-250 with 70,000 miles and the engine failed on me the week of Thanksgiving 2022. It’s been at the Ford dealership since December of 2022 and have been lied to every month saying the engine was shipped and unfortunately they can’t track it due to the lack of information in their system. I’ve since had to go buy another vehicle. Either they’re selling trucks like crazy and keep up with production or there’s a lot of failed 6.7L PS engines that have kicked the bucket. I’ve reached out to FORD directly and they’ve “escalated” the problem and get back to me weekly with updates that they keep trying to contact the dealership. I’m starting to lose faith in FORD and how long will everyone keep using “COVID supply chain” as an excuse?
Jethro
Is any chance those trucks that have been sitting for these chips since late 2020 . Are they going reducing their prices on them for the public to buy later?