
Days’ supply by end of November was 77% higher than at the same time a year ago and the highest since March 2021. While inventory is up from recent levels, it remains low by historical standards.
Days’ supply by end of November was 77% higher than at the same time a year ago and the highest since March 2021. While inventory is up from recent levels, it remains low by historical standards.
The luxury vehicle share sold increased to above 18% of total sales, lifting overall industry ATP, while non-luxury vehicle buyers on average paid more than $500 above sticker price.
Days’ supply climbed to 49, the highest since May 2021. The question now is: Will demand keep up with supply?
Higher rates are already shifting access to vehicles and financing towards wealthier consumers as overall affordability declines.
Despite elevated vehicle prices, soaring interest rates and high inflation, there are no signs that demand is falling off yet.
September marks a record 16th straight month that new-vehicle ATPs were higher than the average manufacturer’s suggested retail price (MSRP).
But don't get too excited. Days supply is still far below historical levels and production has yet to catch up to demand.
The average price paid for a new vehicle in America now tops $48,000. Supply of popular segments – like subcompacts, hybrids and EVs – remain low.
Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
The average price for a new electric vehicle – over $66,000, according to Kelley Blue Book estimates – remains well above the industry average and more aligned with luxury prices versus mainstream prices.
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In