More than 67,000 additional new vehicles were sold in the US compared to October
December 27, 2024 at 16:49
- New car inventories hit a yearly high in the States, with 3.15 million vehicles available nationwide.
- Stellantis brands Jeep and Ram continue battling high inventories but have made progress.
- Toyota and Lexus maintain industry-leading inventory efficiency, with just 31–36 days’ supply.
New vehicle sales saw an uptick across the United States in November, accompanied by a modest increase in inventory levels. However, not all automakers are faring equally—brands like Jaguar, Lincoln, Jeep, and Ram continue to carry inventories well above the industry average.
Sales rose by a solid 6.5% last month, with 67,000 more cars sold compared to October. This growth happened even as the average listing price for a new vehicle climbed by 1.8% to $48,978, a figure that also represents a 2.8% increase from the same period last year. Meanwhile, the average transaction price of a new vehicle vehicle rose by $720 over the previous month, landing at $48,273.
More: Ford EV Sales Surge 21%, But F-150 Lightning Falls 17%, ICE Mustang Crashes 45%
According to newly released data from Cox Automotive, there were 3.15 million new vehicles in inventory across the country at the start of November. This is the highest figure we’ve seen all year. Despite this, the average days’ supply fell by 5.9% to 85 days. That said, many automakers are sitting on more than this industry-wide average, while a few brands are managing tighter inventories.
Lexus and Toyota continue to set the benchmark for lean inventory management, with just 31 and 36 days’ supply, respectively—the lowest among major automakers. Following closely behind are Honda (62 days), BMW (64 days), Subaru (66 days), Kia (77 days), Chrysler (79 days), and Porsche (80 days).
Jaguar and Lincoln Struggle with Overstock
At the other end of the spectrum are Jaguar and Lincoln, two brands with inventory levels at least twice the industry average. Jaguar’s position isn’t surprising, given the brand hasn’t launched any new models in years as it prepares to transition to an EV-only lineup starting in 2026.
Lincoln, however, has also been grappling with growing inventory challenges in recent months, despite the fact that it has a recorded a 28.4% increase in sales during the first 11 months of 2024 compared to the previous year.
Stellantis Makes Some Progress but Still Has Work to Do
Plenty of other brands have high inventories. For starters, both Ram and Jeep had 128 days’ and 129 days’ of supply. While that’s much higher than the industry average, Ram had more than double the industry average in September, showing that Stellantis’ efforts to cut inventories are having an impact.
Read: Stellantis Finally Starts Getting US Inventories Under Control
Other automakers with inflated inventories include Mini (129 days), Buick (128 days), Ford (125 days), and Audi (113 days). These figures highlight a growing divide between automakers effectively balancing supply and demand and those still navigating the challenges of overstocked lots.
