Weak Sales Lead To Biggest Inventory Since Pandemic, Stellantis Drowning In Unsold Cars

Dealer inventories are getting closer to pre-pandemic levels, driving discounts and incentives

A backlog of vehicles is accumulating on dealer lots nationwide as, for the first time since June 2020, there are 80 days of new vehicle supply throughout the automotive industry. This follows a weak sales performance in January and the normalization of supply lines. The days' supply metric is one of many used by analyst to gauge the health of the automotive market, and measures the number of vehicles on dealer lots and in transit from the factory.

The good news is that higher supply is being felt on the price sheet. At the start of February, average listing prices across the industry fell to $47,142, down 1 percent from a year earlier. Prices fell significantly in the second half of January, as harsh weather disrupted sales during what is already one of the lower volume months of the year in terms of auto sales. Moreover, dealers are working harder to sell their vehicles.

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