Investor Alert

The Wall Street Journal

Jan. 24, 2022, 7:41 p.m. EST

Facing backlog, Ford suspends orders for new $20,000 Maverick pickup

Mike Colias

Ford Motor Co. is taking the unusual step of cutting off customer orders for the Maverick,  a more-affordable pickup  that it rolled out last fall, saying it has maxed out on what it can build.

The move is a sign that American shoppers are hungry for more-affordable options as prices for new cars and trucks hit new records and  availability remains constrained  on dealership lots.

Ford (NYS:F) told dealers Monday that it is suspending customer orders for the Maverick pickup truck because it is already straining to fill a backlog. The company will resume taking orders for the 2023 Maverick in the summer, it said in a memo to dealers, reviewed by The Wall Street Journal.

“We didn’t want to take more orders than we could build,” said Dean Stoneley, general manager of Ford trucks, in an interview. “We’re getting customers who would have perhaps bought a used car and are now buying the Maverick because it is so affordable,” he said.

An expanded version of this report appears on WSJ.com.

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