Days’ Supply Fell in December
Total inventory, though, was up 50% year-over-year.
Toyota, along with Honda, had the lowest inventory at the end of the year among mass-market brands.
IMAGE: Toyota
Robust December sales and manufacturer production cutbacks curbed new-vehicle days’ supply at the end of last year, though overall inventory was healthy.
U.S. days’ supply fell by three days to 70 as total inventory rose from 2.6 million units to 2.7 million, Cox Automotive said.
The data provider said some big automakers cut back on output in December, including Ford scaling back F-150 Lightning electric truck production and Stellantis eliminating a shift at two Jeep plants.
Total inventory, though, was up 50% year-over-year, including units already at dealerships and those in transit.
Cox said Honda and Toyota had the lowest inventories at the end of the year among mass-market brands, while BMW and Lexus had the lowest among luxury automakers.
Meanwhile, the average new-vehicle listing price rose 4% month-over-month to a two-year high of $48,817, Cox said, a 2% year-over-year increase. Due to growing incentives, though, the average transaction price fell a record 2.4% to $48,759.
More Dealer Ops
Dealer Debrief: August Auto Sales
Gas-powered engines still dominate the U.S. vehicle market, but hybrids are gaining ground as consumers look for ways to cut their gas costs.
Read More →
Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
Read More →
Dealer Debrief: Defection Data & EV Updates
In this week's debrief, host Lauren Lawrence discusses how to use defection data to your advantage and the latest on EV sales and charging infrastructure.
Read More →
How Defection Data is Bridging the Dealership Conversion Gap
Lead volume is flat, cross-shopping is up and brand loyalty is in retreat. As confident sales teams keep losing buyers they thought they had, daily industry sales data is showing dealers exactly where their funnel is breaking and how to fix it without buying a single new lead.
Read More →
Dealer Debrief: Where are you losing customers?
In this week's debrief, host Lauren Lawrence discusses the hidden leaks in dealerships where you might be losing customers without even realizing it.
Read More →
Dealer Debrief: Improving Your Inventory Management
In this week's debrief, host Lauren Lawrence covers a new survey that shows what service technicians really want and two launches that could help improve your inventory and vehicle life cycle management.
Read More →
Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →