With production issues stemming from pandemic-induced supply chain shortages and the UAW strike largely in the proverbial rear-view mirror, new vehicle inventory has increased quite a bit in recent months. This certainly applies to the Ford brand, which saw its inventory levels surge to a 105 days’ supply in Q3, which was among the highest of all automotive brands in the U.S. At the same time, FoMoCo’s luxury brand – Lincoln – closed out the third quarter with inventory levels that were more than double the national average, according to new data from Cox Automotive.
While Cox Automotive lists out a number of automotive brands in terms of days’ supply inventory levels, those that posted results higher than double the national average of 71 are listed separately, as we can see in this chart. That list includes Lincoln, along with Chrysler, Jaguar, Alfa Romeo, Dodge, and Fiat – which isn’t necessarily a good thing in this case. As Ford Authority recently reported, the Lincoln Aviator recently ranked among the slowest-selling new vehicles in the U.S., though the brand’s overall sales did increase by 2.2 percent to 6,241 units in November, at least – a slight bit of good news amid a 4.81 percent decline, year-to-date.
On the same token, the average new vehicle supply in the U.S. reached 2.56 million units last month, which is 57 percent or 925,000 units higher than the same time period one year ago. These Cox Automotive days’ supply figures are based on the daily sales rate for the most recent 30-day period that ended early this month, when sales totaled nearly 1.01 million units. Sales for the full month of November were up seven percent from a year ago and up almost two percent from October.
As Cox Automotive points out, this glut of inventory is prompting some automakers to scale back production, particularly in terms of all-electric vehicles, which ended November with a 114 days’ supply, overall.