New-Vehicle Inventory Tops 3M for First Time Since the Pandemic
U.S. new-vehicle inventory levels improved in October 2024, with a 6.2% increase compared with the previous month, Cox Automotive reported.
The increase is largely attributable to the ongoing recovery in production levels and a reduction in supply chain disruptions that had plagued the industry in previous years. Manufacturers ramped up vehicle production, allowing dealers to replenish their stocks and offer a wider variety of models, Cox analysts said.
“In a measure at the end of October, according to an analysis of vAuto Live Market View data, the total U.S. supply of available unsold new vehicles reached north of 3 million for the first time since the pandemic, which is up 29% year over year,” the report stated, in part. “With 3.04 million units available, days’ supply increased to 85 days, which is now 14% higher compared to the same time last year.”
