A strong daily selling rate in March brought down automakers' days supply at the beginning of April from the previous month and at the same point in 2017. But in gross terms, unsold inventory levels remain elevated.
Automakers collectively reported an estimated 4,065,600 unsold vehicles in U.S. inventories on April 1, representing a 69-day supply. Trucks accounted for about 69 percent of unsold inventory at 2,786,800 units, or a 70-day supply, with cars representing the remaining 1,278,800, for a 66-day supply, according to the Automotive News Data Center.
Automakers reported inventory levels above 4 million units for the second consecutive month on April 1, after seven consecutive months below that threshold.
The 69-day supply on April 1 is down from 74 days at the beginning of March, and down from 73 days at the beginning of April 2017. But the gross inventory figure rose from an estimated 4,020,400 on March 1. It is down, however, from the 4,191,700 units reported at the beginning of April 2017.
BMW of North America's 38-day supply at the beginning of April was the lowest among automakers, followed by Mazda North American and Subaru of America, both at 48 days. At 89 days, Volkswagen Group of America was highest, followed by Ford Motor Co. at 82 days.
At the brand level, the Fiat brand had the largest supply at 157 days, followed by its sibling FCA US brand, Ram, at 111 days.
At the other end of the spectrum, BMW brand was the lowest at 37 days supply, followed by Mini at 46.