New-vehicle inventories in the U.S. fell to their lowest point since 1985 at less than 1 million vehicles, according to estimates from industry data giant Cox Automotive and analysis firm LMC Automotive.
After applying the sales rate from the previous month, Cox puts available inventory in the U.S. at 915,089, or about a 30-day supply. LMC Automotive Analyst Bill Rinna reports that’s the lowest new-vehicle inventory level in decades. In comparison, the industry had 1,432,300 vehicles in inventory in the wake of the 2009 Cash for Clunkers program, finds the Automotive News Research & Data Center.
Cox executive analyst Michelle Krebs reported the day’s supply figure stabilized in recent months as sales rates slowed. But ongoing production and supply issues mean new-vehicle inventory will contract further before it recovers.
Among the automakers that report sales and inventory monthly, only Toyota Motor North America and Mazda North America maintained their days’ supply levels from the previous month.
Subaru has the tightest supply among reporting automakers and Ford was the only automaker with over a month’s supply.
Originally posted on Auto Dealer Today