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Jul 30, 2024
New vehicle inventory up 57% from last year
Based on June retail advertised inventory data, vehicle inventory in the United States continues to rise. Here are four key takeaways from our most recent analysis:
- Available retail advertised inventory at the end of
June continued to grow, reaching 2.84 million
vehicles.
Inventory is up 1.8% compared to the end of May and 57% over June 2023. This marks the 13th consecutive month of increases.
- Most segments are experiencing inventory growth, with
the Compact Utility segment seeing a significant increase of
7.4%.
This segment also has the largest number of advertised vehicles.
- From an advertised pricing perspective, the average
Manufacturer's Suggested Retail Price (MSRP) has been increasing
since March, up 2% after a steady decline since last
summer.
- The average advertised discount is now $3,236, the
highest level seen in the dataset since January
2022.
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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