New vehicle inventories continued their slow, steady recovery last month and stand at more than 1.95 million vehicles.
The U.S. new-vehicle inventory continued its steady climb in June as production recovers, according to data from Cox Automotive and the Automotive News Research & Data Center. The growing stockpile of unsold electric vehicles contributed to the overall rise.
Cox estimated unsold inventory at 1,953,512 vehicles, or a 53-day supply, up 75 percent from the same point a year ago, and up slightly from 1,928,619, where it stood a month earlier. Cox uses the sales rate from the preceding 30-day period to calculate days’ supply.
There was a 103-day supply of EVs — making it the only segment other than ultraluxury and high-end luxury to top the century mark, according to Cox, though full-size cars were close, at 99 days. Stock levels of compact and midsize cars and crossovers had the tightest inventories. Cox also pointed out that inventory levels were densest among lower-priced vehicles, with stocks growing roughly as price increased. Toyota and Honda vehicles represented nine of the 10 nameplates with the smallest days’ supply.
Among the seven automakers still reporting monthly sales and inventory figures, six saw their days’ supply levels increase last month, between one and four days, with only Volvo staying level, according to figures provided by the Automotive News Research & Data Center.
