Automakers and dealers began February with an 88-day supply of inventory, the most in five years, as a weather-hindered sales rate in January conspired with a spike in light trucks stocks. All three Detroit automakers had more than a 100-day supply.
The industry had an estimated 4,015,500 unsold vehicles on hand after January, up from 3,883,800 vehicles, an 84-day supply, at the same point in 2018. The gross number of unsold vehicles crept back above 4 million for the first time since the start of December. January 2014 was the last time the industry had at least an 88-day supply.
About 72 percent of inventory at the start of February consisted of light trucks, vs. 28 percent cars.
Among automakers, Subaru continued to hold the industry's tightest supply: 42 days. Mercedes-Benz, at 48 days, was the only other automaker under 50. On the other end of the spectrum, Mitsubishi and the Detroit 3 had the highest levels, with Mitsubishi at 120 days, followed by FCA US at 119 days, General Motors at 108 days and Ford Motor Co. at 101 days.
Among brands, only Subaru and Mercedes had supplies below 50 days, while 10 brands had inventories greater than 100 days. Long-struggling Fiat recorded its highest level — 250 days — since its U.S. reintroduction in 2011. Ram had the second-highest supply at 141 days, followed by Buick at 134 days. Also over 100 days were Jeep (126), Mitsubishi (120), Volkswagen (116), GMC (110), Cadillac (107), Chevrolet (105) and Ford (102).