Maybe production pause and/or new models are trickling into dealers? Only thing I can think of.
That was my point in one of the posts either on this thread or another (can't remember which) - Ford slams the brakes on plans and then leaves major gaps in product cadence, and then pushes their refresh into what should be a redesign timeline. If they followed the 3/6 refresh/redesign timeline, the refresh should've happened for '23 or '24 at the latest, with a new model being for '26 or '27 (granting an additional year because of covid), but for some reason, they keep going long on Explorer redesigns, and I think they've been lucky with sales remaining stable.
I still personally believe the Explorer’s lack of substantial change is a compounding factor. The 25 should’ve been an all new model not a midcycle refresh. It’s one of the reasons I’m not buying one.
Most of the big % changes can be explained. Bronco has the 25’s coming out and the 24’s have some good discounts on them. The Mach e had some pretty big rebates. Maverick has supply issues. Ranger had supply issues last year. The only two I can’t really figure out are the explorer and transit. Explorer just had a refresh with a much improved interior. Whats its issue? Transit with a 45% drop, what’s the deal there?