U.S. New-Vehicle Inventory at 2.91 Million, Days' Supply Down Nearly Three Weeks YoY
According to Catalyst IQ data, U.S. new-vehicle inventory stood at 2.91 million units in early September, down about 30,000 month over month and up about 40,000 year over year, with 73 days' supply, down 5 days month over month and nearly three weeks less year over year. Hybrids had the fastest turnover for the fifth consecutive month, with inventory at only 64 days; battery electric vehicles fell to 72 days, while diesel vehicles rose to 114 days as oil prices hit new highs. Midsize SUVs and crossovers had inventory of more than 600,000 units, and full-size pickups 358,000. Among six automakers that disclosed figures, inventory days rose for Ford and Mazda and fell for Toyota, Honda, Subaru, and Hyundai. Inventory of lower-priced models contracted.
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