Jeep dealers have enough stock to last them two years!
According to a new car inventory report by CarEdge, there is an excess of Jeep Renegades in dealerships. Specifically, dealers have enough Renegades in stock for two years, as of June 2023.
To get more technical, the Renegade has a Market Day Supply (MDS) of 753, which is much worse than when the Chevy Equinox saw a 71-day supply in 2021. The MDS, for those unfamiliar, is a unit of measurement indicating the number of days it would take to sell out of a product. A high MDS thus indicates an oversupply.
According to the source, there are currently 7,630 units of the Jeep Renegade available for purchase.
In addition, Jeep dealers have been able to sell 459 Renegades every 45 days, which may seem like a significant number, but it will still take a great deal of effort to address the 753-day supply.
The report states that this has been the case for some of Jeep's larger offerings. The Cherokee, for instance, has an MDS of 391 – and it's no longer in production – while the Compass and Gladiator have 352 and 283, respectively. Cars from other brands with very high inventories include the Chevy Silverado 4500 Medium Duty Chassis Cab at 443 MDS, the Lincoln Corsair at 423, and the Ram 2500 at 403.
The car with the lowest MDS as of June 2023 is the Kia Seltos at 9. It also has an amazing 5,262 units sold in 45 days. This is followed by the Lexus NX, also at 9, and the Kia Carnival at 13.
Many of the models with the highest MDS numbers are from Stellantis. In connection to the second quarter 2023 sales performance figures for Jeep, it looks like the two models propping the company up are the Grand Cherokee and the Wrangler. Coincidentally, those two do not have an oversupply.
There are more factors to this report, but the gist is that an oversupply might allow car buyers to get leverage when it comes down to negotiating a final price… provided, of course, you want to buy any of the oversupplied cars listed above.
Keyword: Jeep Has A Big Problem With The Renegade