New car models are something we often take for granted. Have you ever wondered why new car models are released, or why they are released when they are? Are you aware that new car releases actually impact the price of vehicles.
Auto production plant. Source: Shutterstock.
When New Models are Released
Once upon a time, new car models flooded the market every October. Now, they can arrive at any time of the year. Surprisingly, it was President Franklin Delenore Roosevelt, colloquially known as FDR, that originally marked October as the beginning of the new calender year for vehicles.
Auto workers were typically laid off for a time as the model year changed, and changes were also made to production. FDR signed an executive order that declared fall at the beginning of the model year. This allowed auto workers to work during the holidays when money was desperately needed.
This has changed in recent years. With the wide variety of car companies and new models released each year, staggering new releases allow new cars to get their time in the spotlight. If they are all released at the same time, many will get lost in the shuffle.
Ford’s New Releases
To get a better idea of how new releases work, let’s take a look at Ford. You will be able to order the 2023 Ford F-150 in July of 2022. The 2022 model was available for order until May 2022.
If you want the 2023 Maverick, you’ll need a bit more patience. Orders can be placed starting August 15th. However, there are few changes expected to the Maverick. Production begins in October of 2022.
Huge lineup of newly produced vehicles. Source: Pexel.
Redesigns and Face-lifts
Car manufacturers like Ford usually follow a schedule. Cars are typically completely redesigned every five to seven years. In between, they get a few facelifts.
Facelifts typically consist of a few new features or minor changes. These can include new headlights, technology updates, or new safety features.
A redesign is a much more intensive process. When a Ford vehicle gets a redesign, you can expect it to include a new Ford engine. Other changes often include a new chassis, a new exterior, and a new interior. It’s essentially using the old car design as inspiration for a completely new design.
New Ford Engines
When it comes to new Ford engines, there’s a lot of excitement over the new F-150 Raptor. Last year, the Raptor was redesigned, but without an engine upgrade.
Ford said that the new Raptor Ford engine will be released this year. The rumor is that the new Raptor will sport a 5.2 liter V-8. The same V-8 that is currently in the Shelby GT500.
The engine currently provides 760 horsepower and 625 lb-ft of torque. The exact specs for the Raptor haven’t been revealed yet, but it’s sure to give its competition, the Ram 1500 TRX, a run for its money.
Another new Ford engine is thought to be a smaller version of the 7.2. It’s a 6.8 liter V-8 that will be an option for the new Mustang and F-150. It’s thought that the block will be aluminum, instead of the iron found in the 7.2.
The 7.2 is being manufactured at Windsor, which will also manufacture the new 6.8. This further strengthens the theory that the 6.8 will be similar to the monster 7.2.
Why Model Years Matter
There are a few reasons why you should pay attention to model years, particularly when purchasing a vehicle. The model year will significantly affect the price of a vehicle.
A 2021 Mustang will be less expensive than a 2022 model, even if both are new. However, the 2022 model may be deeply discounted when the 2023 model is released, because the 2023 Mustang has been redesigned.
Resale value will also be higher, particularly when it comes to redesigns. If you want to sell your vehicle later, the 2023 model would bring more than the 2022 model.
In addition to the sticker price and resale value, you’ll need to consider your preferences. Do you want the latest year’s model? You’ll have the latest in technology and safety features, as well as the newest style.
However, if you like the old year model, you may not want to change. Particularly since there’s a significant price difference.