August supplies down as summer sales surge, Cox Automotive says.
August supply improves to highest level in nearly 2 ½ years, Cox Automotive says.
Holiday shopping didn’t stop supplies from surpassing previous year highs.
Cox Automotive says it's soared 350% while consumers put off EV purchases over pricing and charging concerns.
Double-digit increases in the automaker’s top-selling nameplates drove the increase.
Company cites the impacts of lower used-vehicle availability and higher wholesale pricing as the reasons.
May supplies reached 1.96 million, well above a year earlier, though still under historical norms.
Economic headwinds are not deterring sales, Cox Automotive analysts find.
Sales consequently robust, also aided by increased discounts.
Still off historical norms, improvement leads to more sales.
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