Inventory of new Cadillac vehicles at the dealer level increased in May 2024 in the United States, leveling out at 83 days’ supply last month, according to the latest report from Cox Automotive.
That means that Cadillac dealers had enough supply on hand to answer current demand for 83 days, up from 60 days’ in March and 60 days’ in January. Cox determines this metric by taking into account the daily sales rate for the most recent 30-day period. A higher figure means that vehicles from a particular automaker are sold slowly, while a lower figure means that dealers are selling their vehicles quickly after they arrive from the factory. As a reminder, 60 days’ supply is considered normal and ideal industrywide.
The inventory levels during May 2024 place the luxury marque toward the upper end of the industry, which was far lower than that of Lincoln, which had 145 days’ supply on its dealer lots, followed by Audi’s 110 days’ supply and Genesis’ 104 days’ supply. However, Cadillac’s days’ supply was higher than that of BMW at 102 days’, Acura at 60 days’ and Lexus at just 37 days’. For context, the industrywide average decreased four days to 74 days’ supply.
Cox notes that dealer inventory is being filled with newer model year vehicles as customers gravitate toward purchasing older model year vehicles, which are typically more affordable than newer ones. With that in mind, it’s likely that dealers will increase incentives and discounts in order to move newer stock from its lots, especially considering that interest rates are likely to remain high. Additionally, lower-priced vehicles are flying off dealer lots. Specifically, vehicles priced at $40,000 or below averaged 60 days’ supply last month.
It’s also worth noting that total U.S. supply of available unsold new vehicles was 2.89 million units at the end of May. Inventory volume has increased by more than 1 million units in the past year, making it 55 percent higher on a year-over-year basis, meaning that new vehicle production is outweighing demand.
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