Automotive dealers are reporting a large surplus in the number of full-size pickup trucks they currently have on their lot, leading the prices of these vehicles to fall as more consumers opt for fuel-efficient models.
With nearly everyone after high-MPG vehicles, pickup truck sales, usually a sure thing in the U.S., have hit a lull. Yet automakers have not adjusted their production schedules, leading to an overabundance of models. The GMC Sierra and Chevrolet Silverado currently have an average 122-day supply at dealers across the country, Reuters reports. Most companies aim to have 80 days' worth of vehicles. Slow sales at this time have grown the national average to 99 days, but the pickups are still well above that.
"Clearly most manufacturers overestimated the kind of demand we were going to get for full-size trucks in the first half," analyst Jesse Toprak of TrueCar told the news source. "Do we have high inventory levels for full-size trucks? Yes. Is it a major issue? It's not at crisis level, but it's above healthy levels."
This has led to a wealth of incentives being offered on the models in an effort to move them quickly. The GMC Sierra currently comes with a $5,350 discount, while the Silverado is offering $4,880 off. Other models with big incentives include the Dodge Ram, Ford F-Series and Toyota Tundra.