The supply of U.S. light vehicles fell to 55 days as of Aug. 1, the lowest days supply this year.
This was down from 67 days a month earlier. About 60 days is considered ideal.
The trouble spot in the industry remains the gas-guzzling truck sector. With the price of gasoline approaching record highs, the supply of light trucks remains high at 70 days, although that is down from 84 days as of July 1.
The traditional Big 3 continue to sit on the biggest inventories. As of Aug. 1, General Motors, the Chrysler group and Ford Motor Co. had a combined 2.1 million units on hand, over 60 percent of total industry inventories of 3.3 million units.
Fueled by high truck stocks at Chrysler division, Dodge and Jeep, the Chrysler group posted a 93-day supply as of Aug. 1, with 560,200 units of stock, down from 91 days as of July 1.
The Chrysler group is the only member of the Big 3 offering an employee pricing incentive this summer.
GM and Ford Motor experienced drops in days supply as of Aug. 1.
Decreased supplies of cars and trucks led to Ford's overall supply of 73 days, down from 81 days a month ago. GM trimmed its supply to 57 days from 73 days a month ago.
The three biggest Asian automakers also saw decreases in their vehicle supplies.
After surpassing Ford Motor in U.S. sales in July, Toyota Motor Sales saw its supply fall to 25 days as of Aug. 1 from 33 a month earlier.
American Honda Motor Co. continues to post a low supply, with 31 days as of Aug. 1, down from 47 last month. Nissan North America shaved its days supply to 56 from 68 as of July 1.
You may e-mail Erin Robinson at [email protected]