Inventory Takes a Seasonal Dip, Expected to Return to Growth Pattern
GRAND RAPIDS, Mich., Feb. 8, 2024 /PRNewswire/ -- Cloud Theory, the real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates, is reporting in this month's "On the Horizon," that new vehicle inventory took a step back from its ongoing recovery, dropping from 2.64M in December to 2.53M in January. This interrupts an 11-month run of growth, during which counts grew by more than 1 million. Since inventory also declined in January 2023 amid its long-term revival, this points to a seasonal dip rather than a shift in the longer-term market trajectory.
- This interrupts an 11-month run of growth, during which counts grew by more than 1 million.
- Since inventory also declined in January 2023 amid its long-term revival, this points to a seasonal dip rather than a shift in the longer-term market trajectory.
- Cloud Theory's proprietary Inventory Efficiency Index reflects the post-holiday decline for luxury OEMs, with Lexus, Land Rover, and BMW dropping substantially in score and at least one rank.
- To see more trends and forecasts on inventory, movement, segment trends, and inventory efficiency, download a copy of the February 2024 On the Horizon report here.