New Vehicle Inventory Gets Back on a Growth Trajectory After Last Month's Seasonal Dip
GRAND RAPIDS, Mich., March 6, 2024 /PRNewswire/ -- Cloud Theory, the real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates, is reporting that new vehicle inventory reasserted its growth trajectory after January's seasonal dip, increasing from 2.54M to 2.69M. This latest figure exceeds December supply levels (2.64M), pointing to continued momentum as OEMs overcome supply chain issues, solidify their model year changeovers, and pursue new model introductions.
- GRAND RAPIDS, Mich., March 6, 2024 /PRNewswire/ -- Cloud Theory , the real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates, is reporting that new vehicle inventory reasserted its growth trajectory after January's seasonal dip, increasing from 2.54M to 2.69M.
- This latest figure exceeds December supply levels (2.64M), pointing to continued momentum as OEMs overcome supply chain issues, solidify their model year changeovers, and pursue new model introductions.
- After last month's cyclical dip, vehicle movement rebounded, hitting 1.06M and is now up 13% on a MoM basis.
- To see more trends and forecasts on inventory, movement, segment trends, and inventory efficiency, download a copy of the March 2024 On the Horizon report here.