When we first saw the Ford Maverick, everyone touted the standard hybrid powertrain and sub-$20k price tag. But Ford Motor Co. clearly underestimated the overwhelming popularity of this little truck because it’s had problems building enough of them, and now the 2024 Ford Maverick pricing is seeing huge increases.
Oh, and that standard hybrid engine? It’s no longer standard. It’s a $1,500 premium in the lower two trims.
According to the Maverick Truck Club forum, an email sent to 2023 customers with existing orders detailed the new 2024 pricing structure. And that shows the new base powertrain is the 2.0-liter EcoBoost – not the hybrid. The only hybrid model that manages to be less than the gas engine is the Lariat trim, and per the forum, that appears to be due to options that are now standard.
Because we’re the down-the-rabbit-hole sort, we created a chart with 2022, 2023 and 2024 pricing below so that you can see the evolution of increases.
The heftiest increase year-over-year comes to the Lariat Hybrid, which gets a $5,135 increase. The $160 increase for the XL EcoBoost is puny in comparison. And while the base hybrid trim gets a $5,005 increase from that 2022 pricing, the biggest loser in the price increase remains the Lariat trim. Both the hybrid and gas models have increased more than $8k in a two-year period.
The simple answer is this: Because it can. Ford is selling Mavericks faster than it can make them. And clearly, the automaker underestimated the popularity of the hybrid powertrain.
What we find interesting is the evolution of pricing. First the hybrid was less expensive. Then it cost the same as the gas engine. Now for 2024 it’s the more expensive option.
“Capacity constraints on batteries for the hybrid continue to be a challenge,” said Dawn Mckenzie, Ford Truck Communications Manager. “This new offering strategy will help us better manage customer orders and accommodate all programs that use this engine (Maverick, Escape, Kuga).”
The good news for those who have an existing 2023 order that’s getting pushed to 2024: Those customers will be able to place a 2024 order at 2023 prices.
The evolution of price changes (including destination fees) is as follows:
|2022||2023||2024||2022-24 increase||2023-24 increase|
It’s a given that prices would increase with the new model year. No one is surprised by that. The sticker shock comes from the 2022 to 2024 pricing – not the 2023 to 2024 pricing – IMHO.
Oh, and the Lariat increase. That’s kind of a lot. But as Mckenzie detailed to us via email, there’s a lot of new standard equipment (below). In fact, if you go to the 2023 build-and-price tool and add the Lariat Luxury package, the final price is $36,825. So, really, apples to apples, you’re looking at a $400 increase. And that is palatable.
Price increases are a fact of life. And while there is certainly some initial shock at how much the 2024 Ford Maverick pricing has increased since 2022, the reasons for the increases make sense. At the end of the day, it’s all about supply and demand. There’s more demand than supply, so here we are.
Order books for the 2024 model open on July 17, 2023, and the build-and-price tool will go live at that time
As a current Lariat owner I can say while it’s nice it’s not worth the price. I’m a 2022 rollover so I got my 2023 for about $4000 below sticker price and while it’s a good value they definitely cut corners in the seat comfort which is my biggest peeve as a 6’1 man.