New-vehicle inventory levels were up slightly in October to 2.67 million — still well below where they were a year earlier but up from where they were a month ago, according to data collected by Cox Automotive.
The figure represents a 65-day supply to start the month, Cox said, citing its vAuto Available Inventory data. A year earlier, dealer inventories stood at 3.39 million vehicles, which represented an 80-day supply. At the beginning of October, dealers had just 2.54 million vehicles on hand, a 58-day supply, Cox said.
Slow, cautious ramp-ups from production suspensions this year caused inventory levels to drop to their lowest points in a decade as automakers struggled to restock dealers' supplies.