Cox Automotive‘s analysis of vAuto Available Inventory data shows that new vehicle inventory in September closed at the highest level since early June 2021, and average listing prices fell to the lowest point in two months.
“Supply is improving but demand is staying strong so we’re still not back to inventory levels of years past,” said Cox Automotive Senior Economist Charlie Chesbrough. “Despite elevated vehicle prices, soaring interest rates and high inflation, we see no signs that demand is falling off, at least, not yet.”
The total US supply of available unsold new vehicles stood at 1.32 million units at the end of September, an increase from 1.23 million cars at the end of August. Days’ supply was 42 compared to 41 at the end of August.
