New-vehicle inventory levels in the United States last month grew to 1.83 million vehicles, or about 73 percent higher than a year ago, but still well below recent norms.
Editor’s note: The headline of this article has been changed to correct the inventory time frame.
New-vehicle inventories were back on the growth track last month after a slight deviation in January, rising despite strong demand as production continues to recover, according to estimates from Cox Automotive and the Automotive News Research & Data Center.
Cox estimated U.S. inventories at 1,828,290 in its most recent assessment, a 58-day supply, up from the 1,726,828 vehicles, or a 57-day supply, it said were available for sale the previous month. The inventory figure is about 73 percent above where it was a year earlier but about 850,000 vehicles less than the same point in 2021, right before inventories started falling precipitously.
Cox said midsize, compact and subcompact cars had the tightest supplies among volume segments, while full-size pickups and full-size cars had the highest days’ supply among nonluxury vehicles. Asian nameplates represented 14 of the 15 vehicle lines with the lowest days’ supply.
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Of the seven automakers continuing to report monthly sales and inventory, two saw their days’ supply estimates rise last month while four others saw their days’ supply decline, with Subaru remaining flat.
Ford Motor Co. continued to have the highest days’ supply among reporting automakers, and along with American Honda and Volvo were the only reporting automakers to have at least a 30-day supply.
