Available inventory is still down 62% behind the same period in 2020. The days' supply as of December remained 48% below Dec. 2020.
Analysis: A big drop of 20% to 30%, as one report suggests, is highly unlikely. History tells us a decline of more than 10% is rare indeed.
The average price paid for a new non-luxury vehicle in December 2021 was $43,072, slightly down from the record high set in November but still $900+ over sticker.
New-vehicle inventory levels are still 63% lower than a year ago while the average transaction price hit another record.
But days’ supply climbed to 43 in September, the highest it has been in months, on higher inventory and slower sales.
Double whammy: New-vehicle inventory falls below 1 million units in September while the average new vehicle price tops $45,000 for the first time.
After edging higher for a couple of months, available supply dipped by the end of August.
Tight vehicle inventory continues to vex the auto industry while high prices deter buyers.
Despite lower production, there are more vehicles ready to be sold due to sales losing momentum since June.
A recent quarterly report from Haig Partners shows that buy-sell activity among auto dealerships has exploded, leading to "empty lots and overstuffed wallets."
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