New-vehicle inventory continued to improve in November as pandemic-era supply chain issues kept loosening.
The number of units rose by 150,000 to 1.62 million through Nov. 21 in the latest of a series of incremental increases that began this past summer, Cox Automotive said. The full month's numbers hadn't yet been released.
The upticks that have occurred since June represent a 78% inventory increase over last year at this time.
Days' supply climbed to 51. Cars most popular with middle-class Americans were in lowest supply, Cox said.
Used vehicle inventory also climbed during that period of the month to 2.42 vehicles with days' supply at 52.
Inventory has been scarce since Covid market pressures began in 2020 with parts shortages, driving up new-car prices in the process.
Originally posted on Auto Dealer Today