Dealers added a small number of vehicles to their inventories as demand moderates. Even so, inventory levels remain at historically low levels.
Inventory levels as the month began stood at 1.08 million vehicles, down 57% from a year ago, as consumer demand slowed and allowed production to catch up and add about 12,000 vehicles, finds data from Cox Automotive subsidiary vAuto.
Current inventory levels rest at a 31-day supply for U.S. dealers, Cox reports. Cox bases days of supply on the selling rate from the previous 30 days. The company’s analysis finds new-vehicle sales fell 10% compared to the same period in 2020, and 23% when compared to the same point in 2019.
Data compiled by the Automotive News Research & Data Center finds that among brands still reporting monthly sales and inventory levels, Subaru had razor-thin inventory levels at the onset of the month. Mazda, Hyundai-Kia and American Honda maintained their supply levels from the previous month, and Toyota, Volvo and Ford recovered a portion of their days’ supply levels as retail demand eased.