Ford: Our Incentives Are Still Lower Than Overall Segment
A Ford spokesman said Friday that despite the automaker offering nearly $11,000 on particular F-150 models, their incentives are still under the segment average.
“It’s not like every F-150 customer walking into a Ford dealer today — whether they’re in L.A. or New York — is going to get $10,000 off of every single model,” Truck Communications Manager Mike Levine said.
“On average, we’re lower than the segment.”
Levine said the $10,819 we reported on yesterday was a specific truck in a specific area. Those numbers, such as $7,050 off, that Ford publicizes on its website aren’t indicative of every incentive available.
“That’s a very specific set of incentives that are all stacked together that gets you to $10,000,” he said.
According to Ford, those incentives include: $3,769 average dealer discount; $500 customer cash; $1,000 XLT customer cash; $300 2.7-liter V6 EcoBoost bonus cash; $2,000 302A XLT Luxury Chrome or Sport packages.; $2,500 bonus cash; and $750 Ford Credit Bonus Cash, which requires Ford Credit financing.
Levine said the average incentive offered on a F-150 is $3,354, which is $800 lower than the segment average and lower than the automaker had offered one year ago.
Dealer inventories are down, Levine said, and Ford needs to stay competitive.
“For this particular truck, we’re helping customers get into a better truck. It’s something that we do from time-to-time, and it’s in line with what our competitors do,” he said.
Representatives from Ram and General Motors didn’t immediately respond to requests for comment.
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- ToolGuy This might be a good option for my spouse when it becomes available -- thought about reserving one but the $500 deposit is a little too serious. Oh sorry, that was the Volvo EX30, not the Mustang. Is Volvo part of Ford? Is the Mustang an EV? I'm so confused.
- Mikey My late wife loved Mustangs ..We alway rented one while travelling . GM blood vetoed me purchasing one . 3 years after retirement bought an 08 rag top, followed by a 15 EB Hard top, In 18 i bought a low low mileage 05 GT rag with a stick.. The car had not been properly stored. That led to rodent issues !! Electrical nightmare. Lots of bucks !! The stick wasn't kind to my aging knees.. The 05 went to a long term dedicated Mustang guy. He loves it .. Today my garage tenant is a sweet 19 Camaro RS rag 6yl Auto. I just might take it out of hibernation this weekend. The Mustang will always hold a place in my heart.. Kudos to Ford for keeping it alive . I refuse to refer to the fake one by that storied name .
- Ajla On the Mach-E, I still don't like it but my understanding is that it helps allow Ford to continue offering a V8 in the Mustang and F-150. Considering Dodge and Ram jumped off a cliff into 6-cylinder land there's probably some credibility to that story.
- Ajla If I was Ford I would just troll Stellantis at all times.
- Ronin It's one thing to stay tried and true to loyal past customers; you'll ensure a stream of revenue from your installed base- maybe every several years or so.It's another to attract net-new customers, who are dazzled by so many other attractive offerings that have more cargo capacity than that high-floored 4-Runner bed, and are not so scrunched in scrunchy front seats.Like with the FJ Cruiser: don't bother to update it, thereby saving money while explaining customers like it that way, all the way into oblivion. Not recognizing some customers like to actually have right rear visibility in their SUVs.
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I believe you will see even more incentives on the F-150. GM and Ram have both been gaining market share and will keep the manufacturer incentives going at least through the end of the year. Mike Levine is going to put a positive spin on the F-150 and will not tell the public if Ford is planning any additional incentives.
Really not that surprising. GM had the same issue when its trucks were new. Aside from the higher-end buyers who opt for the top trim/loaded models, more and more of the mainstream buyer are price/bargain-conscious and just buy from whatever automaker/dealer is offering the best deal (esp. as there are numerous options with one not being much better than the other these days). Coinciding with this is the ever increasingly short period that an automaker can expect to get a "premium" for the volume trim(s) of a new model (probably 2-3 months tops these days). Many buyers would just rather opt for the previous generation that an automaker has been selling off at deep discounts (saw sales of the old Honda Pilot rise as buyers flocked to the good deals).