U.S. new-vehicle inventory reached 2.97 million units in early November, up +4.2% MoM but still –5.7% YoY, reflecting a market that is gradually rebuilding stock while remaining below last year’s levels.

• Days’ supply rose to 88 days (+2.9% MoM, –3.8% YoY), showing that inventory is increasing faster than sales even as the overall sales pace improved modestly.

• The average listing price slipped –0.4% MoM to $49,143, but remained +2.2% YoY, indicating stable pricing despite easing momentum and rising production costs.

• Cadillac’s days’ supply jumped +15% MoM, while Jeep’s surged +24%, alongside a +13% increase in Jeep’s unit inventory, suggesting potential risk of overstock if demand softens.

• Porsche saw a +12% rise in inventory, and slower sales for Mazda and Mercedes-Benz contributed to accumulating stock, hinting at early signs of imbalance among lower-volume or slower-moving brands.

• Industry-wide inventory has been climbing since August, with automakers attempting to balance refilled lots against the risk of outsized supply in a cooling demand environment.

• October sales rose +1.2% MoM but fell –2% YoY, with EV sales dropping sharply from September’s surge while SUVs, performance cars, and full-size pickups remained strong.

• Certain brands faced notable sales pressure: Jeep’s 30-day sales fell –9.2%, Volkswagen slid –14.7% mainly due to EV weakness, and Porsche declined –11.3%, despite core model strength.