In June, the stock of new, unsold vehicles in the United States increased further, with electric vehicle inventories playing a key role. According to Cox Automotive and the Automotive News Research & Data Centre, the days of supply have reached 53.
Cox predicted that there would be 1.95 million unsold vehicles by the end of June, a figure that was only slightly lower than in May. Toyota and Honda’s vehicles accounted for nine of the ten nameplates with the fewest days’ supplies.
June’s new vehicle sales increased 20% over the previous month and reached its highest level since May 2021, thanks to fleet sales and increased incentives. In June, the seasonally adjusted annual rate of sales increased to 15.7 million.
With 90,963 units recorded as of the end of the month, Cox stated that there was a 103-day supply of EVs. With a 40-day supply, the BMW I4 has the smallest dealer inventory. Cox also mentioned that lower-priced autos have the lowest inventory levels.
According to numbers published by Automotive News, six of the seven manufacturers still providing monthly sales and inventory figures had their days’ supply grow last month, ranging from one to four days, with only Volvo remaining steady.