New car inventory recedes slightly to 1.73 million units

Cox Automotive estimates new-car inventories fell slightly last month, interrupting a string of recoveries dating back to the summer, but the industry is still well above the levels of a year ago and far above historical levels. is below Automotive news research and data center.

Cox said its latest valuation estimated U.S. inventory at 1,726,828, 57 days’ worth of inventory, down from 1,803,717 units or 58 days’ worth of inventory available for sale the previous month. Inventories are about 62% higher than in the same period last year, but still nearly a million units short of what they were at this point in 2021, and less than half what they were at this point in 2019. Decrease and increase sales.