March Days’ Supply Hits 10-Year High
U.S. dealers started the month with a 78-day supply of unsold vehicles, the highest number for March since 2009 and the largest total volume since July 2017, according to Automotive News.
Factories and dealers had a 78-day supply of new cars and light trucks on hand at the beginning of March, reaching 4,127,100 units for the highest volume since July 2017.
Photo courtesy Toyota Motor Sales USA
(Bobit) — The days’ supply of unsold cars and light trucks on U.S. dealer lots was 4,127,100 at the beginning of March, good for a 78-day supply, according to data compiled by Automotive News. That’s the highest level for the month since the 101-day supply reached in March 2009.
Analysts noted total volumes were only 2,900,600 vehicles 10 years ago, in the midst of the Great Recession, when demand was low. This month’s unsold volume is the highest since July 2017 (4,196,800) and growing: Dealers entered March with 93,000 more vehicles than they did a year ago and 111,600 more than a month ago.
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