Cox Automotive New Vehicle Inventory

Data Transportation

Source: Cox Automotive
Source Link: https://www.coxautoinc.com/
Frequency: Monthly

Latest Updates

U.S. new-vehicle inventory stood at 2.76 million units as of Sept. 1, 2025, up +4.8% MoM but still -3.9% YoY, reflecting gradual recovery with disciplined production and steady demand.
- Days’ supply rose to 77, up +4.1% MoM but -10% YoY, showing vehicles are selling faster than a year ago despite rising stock.
- The average listing price was $48,697, a slight +0.2% MoM gain and +4% YoY, reflecting inflationary pressures and consumer preference for higher-trim and larger vehicles.
- August sales rose +0.7% MoM and +6.7% YoY, boosted by strong EV demand ahead of expiring tax credits and dealer incentives.
- Inventory dynamics shifted in 2025: supply fell sharply in January–May due to tariff-related buying but stabilized from June onward as automakers managed stock cautiously.
- EV models remain under-replenished, while automakers are selectively restocking profitable, high-demand models, reflecting a focus on profitability and demand alignment.
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US new-vehicle inventory opened August 2025 at 2.68 million units, down -1.0% MoM and -4.7% YoY, with a 73-day supply (down 7 days MoM) and an average listing price of $48,480 (-0.3% MoM).
- July sales rose +8.7% MoM and +10.1% YoY, drawing down inventory by 25,840 units.
- Inventory levels have returned to pre-March 26 tariff announcement levels, reflecting disciplined production.
- EV sales remain strong ahead of Sept. 30 expiration of EV tax credits.
- Through the first 7 months of 2025, average days’ supply was 6 days lower than in 2024.
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July opened with 2.83 million new vehicles available on dealer lots across the U.S., representing a 14.5% increase from 2.47 million units at the beginning of June, but still 1.4% lower than the same period last year.
- New-vehicle days’ supply in the latest measure was 82, which is 12 days higher than at the end of May.
- The average new-vehicle listing price at the end of June remained essentially flat, down by only $84 to $48,749 and 3.1% higher than the same period last year.
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June opened with 2.47 million new vehicles on dealer lots across the U.S., down -0.6% MoM from the 2.49 million units at the start of May and down -12.2% YoY.
- New-vehicle days’ supply in the latest measure was 70, up three days from the upwardly revised 67 at the end of April, but down 9 days compared to last year.
- The average new-vehicle listing price at the end of May increased by 0.5% to $48,883.
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As May opened, the total supply of new vehicles dropped significantly to 2.49 million, down -7.4% MoM from 2.69 million at the start of April and down -10.5% YoY.
- New days’ supply, at the start of May, was 66, down six days from the beginning of April and down 16 days compared to the same time last year.
- Seasonal patterns persist, as it is not unusual to see sales rise during the traditional “spring bounce.” Inventory, however, is not being replenished at the same rate. Some automakers are likely holding the line on deliveries and production, as everyone struggles with the uncertainty surrounding the administration’s tariff policies.
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As April opened, the total supply of new vehicles on dealer lots across the U.S. was at 2.69 million units, down -10.2% MoM from the 2.99 million units at the start of March and down -2.4% YoY.
- New days’ supply fell to 70, down from the upwardly revised 91 days at the end of February. The 30-day weekly sales pace in the final measure of March was up 17.2% compared to late February and up 11.9% compared to the same period last year.
- Cox: “The implementation of tariffs will significantly increase the costs of imported new vehicles. As pre-tariff inventory is depleted, automakers distribute these additional costs across their entire portfolio of vehicles. Tariffs led to a surge in March sales, reducing inventory levels, especially for manufacturers with already low stock levels. As a result of these tariffs and the tightening inventory, and without a policy change in Washington, consumers should anticipate higher prices and fewer discounts on new vehicles by summer. Over time, we can expect a decline in both production and sales, leading to increased prices for both new and used cars. Additionally, some models may be discontinued as automakers adjust their strategies to cope with the new economic landscape.”
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At the start of March, the total U.S. supply of available unsold new vehicles rose by 2.2% MoM.
- Days’ supply dropped -10% MoM to 89 days as sales jumped by 13.6% over the same period; days’ supply at the start of March was higher by 12.8% YoY.
- The average listing price of a new vehicle was $48,316 in the latest measure, down just slightly by -0.6% MoM and higher by 2.6% YoY.
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At the start of February, total US supply of available unsold new vehicles rose by 1.2% MoM.
- Days’ supply began creeping up as sales slowed in January, increasing by 26% MoM to 96 days; days’ supply was higher by 6.7% YoY.
- The average listing price of a new vehicle was $48,637 at the end of January, down -2.5% MoM and higher by 2.5% YoY.
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According to data from Cox Automotive, new vehicle sales grew 6.5% MoM and 12.7% YoY in December and inventory fell -8.5% MoM. The total supply of unsold new vehicles is 2.88 million to start the year, the first time it was below 3 million since the end October, and days' supply dropped to 74.6x, the lowest since July. The average listing price for a new vehicle was $49,853, up 1.8% MoM and 2.4% YoY. The average transaction price (ATP) of a new vehicle in the US was $49,740, the 2nd highest in history. Since 2012, the ATP has been $49,000 or above only five times, peaking at $49,926 in December 2022.

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