Lincoln dealers have a big problem. Aside from having just four models to sell, dealers have a bunch of cars from one and two model years ago that they haven’t been able to move. As Automotive News reports, this means Lincoln dealers have some of the highest inventory levels in the industry. This also means that there are deals to be had if you’re in the market for a Lincoln.
According to data from Cox Automotive, at the end of February 2024, Lincoln dealers had four months’ worth of vehicles sitting on dealer lots; two-thirds of those vehicles are from previous model years. I even did a rough check using Autotrader and was able to find 8,761 2022 and 2023 new Lincolns for sale across the country — including a new 2023 Navigator that’s been on sale for 391 days at a dealer in Northern California. There are several reasons for this huge number of older vehicles as Auto News described.
Officials pin the high levels on a confluence of factors, including a continued normalization of supply after years of shortages. A monthslong stop sale on the Aviator for a defective rearview camera system, coupled with a 26-day UAW strike at the Chicago plant where it’s built, delayed shipments to dealers until late in the year. A later-than-expected launch for the freshened Corsair over software issues in early 2023 also played a role.
While some dealers are trying to paint the situation as a positive one because of an opportunity to create more volume, many others are concerned due to floor plan costs and the need to sell and market vehicles from the current and coming model year. This is a win for customers though.
Dealers have been throwing cash on the hood of these cars to get rid of them. Auto News says data from Motor Intelligence shows Lincoln dealers have had an average of $4,665 in incentives per vehicle during the first two months of 2024, 65 percent higher than incentives were at the same time last year. But the deals vary by region of course.
Buyers at West Point Lincoln in Houston, Texas can lease a 2023 Nautilus for $199/month at 0.9 percent APR for 24 months with $6,452 down. That same lease will run you one percent higher at South Coast Lincoln in Santa Ana, California. So if you’re in the market for a Lincoln, act fast… ah, who am I kidding? These things have been sitting and will still be there. So if you’re in the market, you’ve got plenty of time to get a year or two old “new” Lincoln.
