U.S. vehicle inventories are at their HIGHEST point since June 2021.
According to Automotive News:
"Cox [Automotive] said the figure — the highest since June 2021 — represented a 42-day supply, based on its practice of using the selling rate from the last 30 days."
"Cox [Automotive] said the figure — the highest since June 2021 — represented a 42-day supply, based on its practice of using the selling rate from the last 30 days."
Additionally:
"It was nearly a half million vehicles higher than where inventory stood at the same point last year and about 90,000 higher than where it stood a month earlier."
"It was nearly a half million vehicles higher than where inventory stood at the same point last year and about 90,000 higher than where it stood a month earlier."
But it's not all roses and butterflies:
"Inventory remained more than 2 million vehicles down from the same month in 2019, before the pandemic."
"Inventory remained more than 2 million vehicles down from the same month in 2019, before the pandemic."
(h/t Automotive News dot com)
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