Dealers Are So Oversupplied With 2023 Jeep Renegades To Last Them Two Years
In an age when inventory for new cars is a constant struggle, as well as landing on an affordable price, Jeep Renegades appear to have no problem being available for purchase. According to data compiled by CarEdge, dealers are so oversupplied with 2023 Jeep Renegades that they have enough units to last them approximately two years to sell off every new unit.
A list of vehicles with the highest inventory reports that the Jeep Renegade has a Market Day Supply (MDS) of 753. A model’s MDS is an estimated number of days it would take for a dealership to sell off the available inventory on their lot, which doesn’t include the new units currently being delivered from the factories. According to Laser Appraiser, the average new vehicle has an MDS of 70, and dealers should avoid carrying models with a score of 125 and over. In other words, the Jeep Renegade will take dealers 10 times longer to sell than your average new vehicle.
But the Renegade isn’t the only Jeep that is taking time for dealers to sell. Four of the top 9 vehicles with the highest MDS are Jeeps, eight of them are under the Stellantis umbrella, and all of them are produced by American automakers.
- Jeep Renegade – 753
- Chevrolet Silverado 4500 chassis cab – 443
- Lincoln Corsair – 423
- Ram 2500 – 403
- Jeep Cherokee – 391
- Chrysler Pacifica Hybrid – 355
- Jeep Compass – 352
- Ram 1500 Classic – 328
- Jeep Gladiator – 283
Why Are New Jeep Renegades Taking So Long To Sell?
So why are so many Stellantis brands, Jeep in particular, having a slow sales period to eliminate their new inventory? One reason could be due to the best-selling Jeep Wrangler hoarding all the sales from the rest of the Jeep models, even the similar Jeep Gladiator. Not to mention that the prices of new vehicles have been a big deterrent for prospective customers, causing them to hold onto their current vehicles for a new average of 12 years before purchasing again. Or maybe, people have simply lost interest with the Jeep Renegade entirely.
Which Vehicles Have A Low MDS?
By comparison, the models with the shortest MDS score of 9 are the KIA Seltos and the Lexus NX. Meaning that dealers on average will take a little over a week to sell both of these cars as soon as they arrive. Other KIA’s ranked on the list of vehicles with small MDS scores including the KIA Carnival, Rio, and Forte.