Jun 2023

Inventories Continue to Rise

New-vehicle inventories continue to tick up as the pace of vehicle sales remains healthy despite economic headwinds, according to data from Cox Automotive and the Automotive News Research & Data Center.

Cox’s most recent estimate of U.S. inventory is 1,928,619 vehicles, a 52-day supply. That’s up from 1,904,958 vehicles, or a 53-day supply, in the previous month, and about 71% higher than a year earlier. Though supply is much higher compared with 2022, the level is well below historical levels. Steady supply and higher incentives are holding off the effects of rising interest rates, a trend that will likely continue, according to Cox analysts. The new-vehicle market should remain relatively strong going into the second half, unless the economy sees tighter credit or more job losses, Cox said.