Lincoln dealers across the nation are facing a unique challenge – an abundance of unsold 2022 and 2023 models crowding their lots. This surplus inventory presents an unprecedented opportunity for savvy car buyers looking to score a luxurious Lincoln at an unbeatable price.
The Situation at Lincoln Dealerships
With only four models in their lineup, Lincoln dealers find themselves grappling with an excess of inventory from previous model years. According to Automotive News, this surplus has resulted in Lincoln dealers having some of the highest inventory levels in the automotive industry. While this may seem like a challenge for dealerships, it translates into significant savings for consumers.
Abundance of Inventory
Data from Cox Automotive reveals that Lincoln dealers had a staggering four months’ worth of vehicles sitting on their lots as of February 2024, with two-thirds of these vehicles belonging to previous model years. A quick search on Autotrader yielded over 8,700 new 2022 and 2023 Lincolns for sale nationwide, including examples like a 2023 Navigator that has been available for purchase for over a year at a dealership in Northern California.
Reasons Behind the Surplus
Multiple factors have contributed to this surplus of older model vehicles. While some dealers view this situation as an opportunity to increase sales volume, others are concerned about the financial implications, including floor plan costs and the need to prioritize the sale and marketing of current and upcoming models.
Incredible Deals for Consumers
For consumers, however, this surplus translates into unparalleled deals. Lincoln dealerships have been offering substantial incentives to move these older models off their lots. Data from Motor Intelligence indicates that dealers have been offering an average of $4,665 in incentives per vehicle during the first two months of 2024, representing a 65% increase compared to the same period last year.
Regional Disparities in Deals
While the deals are lucrative, they vary by region. For instance, buyers at West Point Lincoln in Houston, Texas, can lease a 2023 Nautilus for as low as $199 per month with a 0.9% APR for 24 months and $6,452 down. However, the same lease might cost slightly more at dealerships in other regions, such as South Coast Lincoln in Santa Ana, California. Despite regional disparities, the overarching message remains clear: there has never been a better time to purchase a Lincoln.
Conclusion
In conclusion, Lincoln dealerships are currently facing a surplus of unsold 2022 and 2023 models, presenting an unparalleled opportunity for consumers to score incredible deals on luxury vehicles. With dealerships offering substantial incentives and a wide selection of models to choose from, now is the perfect time to make your dream of owning a Lincoln a reality.