Across the automotive landscape, new-vehicle inventories are on the rise. In fact, GMC inventory has climbed from more than a 60 days supply in November 2022 to more than a 70 days supply in December 2022.
This means that GMC dealers currently have adequate inventory to meet customer needs. The GMC Sierra in particular was among the brand’s most stocked vehicle, which is great news given that the truck line is also the brand’s best-selling nameplate.
2023 GMC Canyon
“New-vehicle inventory climbed through December, nearing what used to be considered ‘normal’ levels in the pre-pandemic era,” Cox Automotive senior economist Charlie Chesbrough was quoted as saying in a recent report. “Days of supply at the end of December increased due to production and supply improvements. But sales barely budged.”
For reference, a 60-day supply was considered optimal in the U.S. auto industry prior to the COVID-19 pandemic. More specifically, a 60 day inventory level means that dealerships have enough inventory on-site to sustain current sales volume for roughly the next 60 days.
2024 GMC Sierra HD
According to Cox Automotive, industry-wide inventory levels are still rising, and currently reaching the highest levels since March 2021, as supply levels rose from 1.62 million vehicles in November 2022 to 1.80 million vehicles in December 2022. In fact, December 2022 inventory levels are up 65 percent from December 2021 levels, yet still remain at historic lows. This presents compelling arguments for automakers, including GM, to begin offering more incentives to improve sales figures.
“While new-vehicle supply rose 37 percent since September and is 66 percent above a year ago, the sales pace at the end of December had improved by a scant 2 percent,” said Chesbrough. “If this trend continues – and it seems likely to do so – automakers will be under heavy pressure to move the metal with higher incentives. This will be the story to watch for in the first part of 2023 – automakers returning to discounting.”
2024 GMC Acadia Prototype
It’s worth noting that GMC has a few new products in the pipeline, including:
All of these models will introduce an all-new generation or a mid-cycle refresh, thereby likely resulting in higher consumer interest and associated demand.
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Comments
Dealer lots still empty?
Yet they still can’t deliver the Sierra 1500 I ordered on 3/9/2022, that was built 6/20/2022.
Anyone know the email for GM executive resolution team?
Actually, it appears that the truck GM built for you is part of the reason for this inventory turn. It’s built and the dealership is likely paying interest on it. Overall there’s nothing dealer can do and it’s GMs fault for the whole cluster.
Makes more sense why they’re reporting 70 days of inventory.
His dealer probably already sold it to someone else at over sticker price.
No. Actually I know my dealer well.
He has been very transparent.
I just got an email from GM a few days ago saying the truck was finally built. A 2022…. Finally built 3 weeks into 2023.
Due you really believe GMC cares 🤷♂️
I do not 😡
Really? Where? The dealer lots around here are still pretty empty. Are they counting the unfinished ones waiting for chips?
How about the ones ordered in 21, delivered mid 22 and still waiting on chips they promised by August of 22! Oh did I mention no heated rear seats in the Denali 2500 crew cab! Asshats but they can keep producing new trucks. How about taking care of the guys that accepted the order without being complete with the understanding you would make it right? $83k for a truck and still waiting….
Dealer lots in mid Michigan have inventory.
Nice!
Us folks out West are still looking at empty dealership lots with very little inventory.
Maybe 2023 will be better?…
Yes!
As the lots fill up, hopefully we will see some dealers negotiating prices under MSRP in the near future.
I frequently see remarks from people who have been waiting since January/February/March of last year for their new truck order. I suggest you try going to another dealership. I have a 2023 Denali 1500 that was ordered back in August 2022 and I picked it up from the dealership the week after Thanksgiving. I paid MSRP with no additional Dealer add-ons (ie – nitrogen in the tires, window tinting, paint protection, administrative fee, additional market fee– none of that!). They don’t charge you several thousand dollars for all of the additional dealership add-on profit! I bought from Action GM in Bainbridge, GA. This is an outstanding dealership to do business with. The treat you as a valued customer. I was not asked to do a commercial for this dealership, but I can honestly say that the entire purchase process was a pleasure! This is a First Class Dealership and I’m also really enjoying my new truck! I’m the envy of the neighborhood!!! 🙂
Oh — and by the way — Get out of my way Ford F-150 and let the big dawg eat! : )
KMR56 is your new 1500 a Denali Ultimate with super cruise? I ordered one in January of 2022 and it shows built as of 6/22 but missing a part. No updates have been provided to my dealer. Do you or anyone else have and advise or similar experience?
@ascozz No, it’s a 1500 AT4. With the diesel, tech pack, premium pack, carbon pro, and sunroof.
I have a 1500 AT4 and a Z71 Tahoe that have been on order since April/May of ’22. Both with the 6.2L that seems to be the “boat anchor” holding both orders back. Ones at 3300 status and the other at 3400 status. Absolutely no change for months now. Trying my best to wait patiently…
New GMC and Chevrolet trucks are in short supply on our area lots. Used lots are bulging! I went in to see what it would cost to trade my 2022 Silverado High Country Ltd, 11 months old with 5k miles. For the same truck package, 2023 model, it was close to 14k to boot, over $2.75/mile. There’s no way I’m paying that, it’s the principle of it. The vehicle manufacturers are in for a rud awakening in just a few months as the recession really sets in. Wait it out, they’ll be doing anything to move vehicles.
Chevyguy,
That’s a huge difference for a ’23 model year! Especially equipped the same. On top of that, there were very minor changes for ’23. I agree the winds of economic change are beginning to blow. Manufactures like GM are going to be pressured to deal with abundant inventory and the use of aggressive sales incentives at some point.
Just received heated and vented seat retrofit in my 22 Sierra 2500 HD at4. 370 days from pickup on January 15th 2022. I don’t know if GM is going sequentially or by VIN, but there has got to be A LOT of customers after me since my GMC dealer said I was the first Sierra retrofit they had done between the 1500, 2500 and 3500 series. Dealer said there is no word on heated steering wheel and rear parking sensor retrofits. After more than a year there’s not even a plan by GM to address remaining missing components. Scary! Sure would like to know where GM stands on ALL retrofits for ALL models. Not the corporate press release version, but the actual data direct from the person in charge of retrofits for each model line, of what % of which models have been retrofit with what components and sequence / time-line to complete. Seems GM does not have any measureable goals or deadlines (accountability) with this retrofit program and the lack of communication to customers or dealers is only making GM look even more unprofessional.