On the Dash:
- U.S. new-vehicle inventory reached 2.97 million units in October, with days’ supply rising to 88.
- Cadillac, Jeep, and Porsche saw significant inventory increases that may outpace current sales trends.
- EV sales cooled in October while SUVs, performance models, and full-size pickups continued to drive demand.
New-vehicle inventory in the United States continued to rise heading into the holiday sales season, with available supply reaching 2.97 million units on Oct. 31. Inventory increased 4.2% from the previous month, according to Cox Automotive’s vAuto Live Market View data, yet remains 5.7% lower year-over-year. Industry-wide days’ supply stood at 88, suggesting a market that is expanding cautiously rather than overshooting demand.
Several major brands are experiencing sharper inventory growth than others. Cadillac recorded a 15% rise in days’ supply over the previous month, reflecting a buildup that could become difficult to manage if sales soften. Jeep saw the steepest shift, with a 24% increase in days’ supply and a 13% increase in inventory. Higher volumes of the Cherokee, Compass, and Wrangler contributed to Jeep reaching one of its highest inventory points of the year.
Among lower-volume brands, Porsche posted a 12% jump in inventory. Mazda and Mercedes-Benz also saw inventory accumulate as sales momentum slowed, which may require adjustments if demand continues to shift.
The industry’s 30-day sales pace improved slightly, but inventory is rising faster than vehicles are selling, indicating a gradual imbalance between supply and demand. Days’ supply has climbed each month since August, with some brands more exposed to volume risks than others.
The average listing price for a new vehicle reached $49,143, down 0.4% from September but up 2.2% from October 2024. Larger SUVs and pickups remained strong sellers. Minivan sales continued to weaken overall.
October sales rose 1.2% from September but declined 2% year-over-year. EV sales dropped sharply after a September surge, while demand held firm for SUVs, performance models, and full-size pickups. Jeep, Volkswagen, and Porsche experienced the largest 30-day sales declines, driven by segment performance and EV pullbacks.
As the industry enters the year-end period, automakers appear focused on managing inventory levels, balancing pricing strategies, and adapting to shifting consumer preferences. Higher-end models are expected to perform well through December, while affordability concerns may steer more buyers toward smaller SUVs and crossovers.
