New-vehicle inventory fell in July to pre-trade tariff levels as incentives buoyed sales, along with electric-vehicle shoppers acting before tax credits end.

Listing prices were flat despite tariff effects, though some brands are up as much as 10% year-over-year, reported Cox Automotive, which credited production discipline for the stable supply.

Inventory stood at about 2.7 million units as August opened for a days’ supply of 73, down 1% from 2.8 million on July 1 and 5% year-over-year, Cox said.

July sales surged 9% over June and 10% year-over-year. Cox didn’t indicate how much the EV rush represented of the increase.

The month saw an average listing price of $48,480, flat from June but up 3% year-over-year. Most brands have increased prices by 2% or less, according to Cox, which nevertheless said it expects price hikes as 2026 rides hit dealers, especially completely new models.

It said brands are handling unpredictable tariff storms in different ways in a mix of strategic incentive offerings on certain models and inventory and production management. In addition to EVs, popular vehicles include subcompact, compact and midsize crossovers and pickups.

“While tariffs remain a thorn in automakers’ sides, smart incentives and fresh models are keeping buyers engaged,” Cox said in its report. “Price trends have stabilized despite underlying volatility, proof that both dealers and consumers are adapting quickly.”

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