A recent analysis of vAuto Live Market View data reveals that new vehicle sales volume and average days’ supply have stabilized after experiencing fluctuations due to a cyber breach at a major dealer management system (DMS) supplier. As of September 5, 2024, the total inventory of unsold new vehicles in the U.S. stands at 2.84 million units, with a days’ supply averaging 77—lower than the first half of the year, which recorded an average of 83 days, but significantly higher than the sub-60 levels seen a year ago.
The slight increase in inventory—up just 6,073 units since early June—comes amidst a 14% rise in sales compared to last year, with approximately 25% of showroom inventory consisting of 2025 model-year vehicles. The current days’ supply reflects data based on sales rates over the most recent 30-day period.
Stellantis brands increased incentive spending to 7.8% of the average transaction price (ATP) in August, up from 5.7% in July. However, older model-year vehicles continue to impact dealer inventories, notably Dodge, which had the lowest incentives at 5.6% of ATP and a days’ supply of 149—nearly double the national average. As of early September, many brands are facing higher-than-average days’ supply.
The average listing price for new vehicles is $46,841, representing a slight decline of 1% from the previous month and 0.7% year-over-year. Despite this, over a third of available models have listing prices below $46,000, highlighting a consumer trend towards compact and subcompact SUVs. Best-selling models include the Toyota RAV4, Chevrolet Trax, and Honda CR-V, indicating strong demand in these segments.
Additionally, the average transaction price for new vehicles in the U.S. in August was $47,870, down 0.6% from July. The average new vehicle incentive package also increased to 7.2% of ATP, or $3,383, up from 7% in July and significantly higher than the 4.8% recorded a year ago.
