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New vehicle inventory declines for first time in 14 months
Retail advertised vehicle inventory in the United States declined last month for the first time since May 2023. Here are the top five highlights from our latest reporting.
1.Available new inventory closed July at 2.788 million vehicles, up 52.5% vs. last July, but down 2.3% from June 2024.
2.The 2.3% decrease is the largest percentage decrease we have seen within the full time period of our data, going back to January 2022 and is the first decrease since May of last year.
3. Four of the top five segments showed decreases, with the most significant being among Full Size Half Ton Pickups, which is down by 10.3% vs. June.
4. Electric vehicle inventory has also decreased from June to 177,545, down 1.7%.
5. We are increasingly seeing 2025 Model Year vehicles being added to inventory.
2025MY is up 43% from last month. 2024 Model Year appears to have peaked in April and now is beginning to decrease.
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.