Inventory for unsold new vehicles has been historically low this year, with the ongoing global microchip shortage slashing production figures across the auto industry. That includes inventory for the Chevy Camaro, which was down to a 16-day supply last month.
The insights come from a recent report from Cox Automotive following an analysis of vAuto Available Inventory data. Per Cox Automotive, the total U.S. supply of available unsold new vehicles was 1.78 million units at towards the end of May, a considerable drop compared to the 2.24 million units available around the same time in April.
“Supply has been trending lower since mid-December,” Cox Automotive states. “Inventory near the end of May was running 43 percent behind levels for the same period in 2020 and 54 percent below the same timeframe in 2019, according to a Cox Automotive analysis.”
Unsold new vehicle inventory for the Chevy Camaro wasn’t the only Bow Tie brand product in short supply last month. In fact, the national days’ supply for the broader Chevrolet brand was just 25, below the industry national average of 35. At 25 days’ supply, Chevrolet had the third lowest available supply of all automakers, with Toyota and Lexus in first and second, respectively, posting 18 days’ supply and 23 days’ supply.
Meanwhile, GMC was tied with Chevrolet with a 25 days’ supply, ahead of Subaru and Kia, both of which had 28 days’ supply.
Other low inventory models include the Chevrolet Corvette Stingray, which had the lowest inventory of any model at six days’. The Cadillac Escalade, Chevy Tahoe, Chevy Suburban, and GMC Yukon each had less than 20 days’ supply, as did the Chevy Traverse and Chevy Trailblazer. The Chevy Silverado and GMC Sierra both had less than 20 days’ supply.
To note, the Chevy Camaro is produced at GM’s Lansing Grand River Assembly facility in Michigan, which was idled May 10th as a result of the microchip shortage. The facility is slated to resume production later this month.
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Source: Cox Automotive
Comments
That works out great for GM since sells are low
I just want the car I ordered in April… Not some over loaded car they think I need
Iv had camaro ordered since February maybe they wil build it when they open back up Monday
There’s low invwntory because there’s been almost no production.
One follows the other….
Not sure where the author gets a 6 day supply of Corvettes?, all current orders for the C8 corvette are sold to Named buyers and the current list to wait and buy a C8 is currently way more than 6 months and in some cases. Well over a year.
Lots of dealerships sitting on C8 Corvettes with “adjusted market value “ pricing . Plenty of C8 Corvettes to be had. A local dealership has a beautiful orange 3LT .
HOW DID THIS GET FROM CAMARO TO CORVETTE, AND WHAT IDIOT IS PAYING $20,000 OVER FOR THAT COME LATE TO SHOW CAR. WAKE UP FIRST TIME BUYERS, LOOK AT SOMETHING ELSE OR BUY A BETTER CAR, C7.
The article did mention C8 inventory so Robert picked up on that and since most of us who love The Camaro also love the Corvette the conversation would naturally mention the C8 inventory.
And so many people are paying ridiculous numbers for the C8. When I ordered my ZL1 1LE one dealership that had the one I wanted had it marked up to $98,999.00. And guess what. They sold it. Not to me though. Lol. I got the exact same ZL1 for $1000.00 under sticker. Normally I would not pay that close to sticker but if I wanted that color that was the last one to be had. In my area Camaros are selling from $5000.00 to 25,000.00 over MSRP. A stripped down W/T Silverado is $15,000.00 to $20,000.00 over. This isn’t just an automotive issue. Every industry is facing similar issues.
Why would someone pay $15,000-$20,000 over MSRP for a W/T Silverado when a higher trim level can be had for the same cost? So where are you getting these numbers Reddawn?
The addendum sticker that was stuck to the windshield. In other words first hand knowledge. Everyone needs to understand that the area you live in is not the rest of the world. The average mark up is $15 to $20k over MSRP in the Northern Virginia area. Camaros are $20 to $25k over MSRP if you can find on and forget about getting exactly what you wanted.
Just sit back and wait, In 6 months the dealerships will be begging for customers again! Only fools buy cars with their B/S “adjusted market value”.
Ordered a ZL1 1LE back in early April. A couple days ago I was notified that they would not be making my car due to “lack of resources”, which I am assuming is related to the chip shortage. I got my deposit back and out of extreme luck, I found a used ZL1 1LE that had the same specs that I originally ordered. I’m not sure if I was late to the game in buying this car but what I do know is that my order was canceled. If you were like me and ordered “late”; take this information into consideration.