U.S. vehicle inventory continued to recover from historic lows, rising another 150,000 vehicles to 1.61 million, according to data from Cox Automotive and the Automotive News Research & Data Center.
The increase mirrored the rise from the previous month and extended the run of slight inventory gains that began in June, when automakers and dealers had an estimated 500,000 fewer vehicles in their stocks. Levels are up 78 percent from where they were a year earlier, Cox said, but still are down substantially compared with where they were at the same point in 2019 and 2020.
Cox noted that high-performance cars, compact cars and minivans were the segments with the tightest supplies, while full-size pickups, full-size cars and high-end luxury cars had the largest days' supply. Notably, electric vehicles had nearly a 50-day supply, Cox said, just under the national average for all segments.
All seven of the automakers that continue to report monthly sales and inventory data recorded increases in their days' supply, with Ford Motor Co. crossing over the two-month threshold for the first time since January 2021, according to the Automotive News Research & Data Center.
Subaru was the only brand among those reporting whose days' supply remained in single digits, while Volvo and American Honda joined Ford in having at least 30 days' supply.