The automotive industry is slowly recovering from the COVID-19 pandemic, which had a negative impact on production and subsequent vehicle inventory. When business began to ramp back up, a disconnect emerged between the availability of new vehicles (supply) and demand, resulting in low inventory and sky-high prices. Now, GMC new vehicle inventory has recovered to 65 days supply as of November 2022.
This means that GMC dealers have ample inventory of the GMC Sierra 1500 / HD and Canyon pickups, as well as Yukon SUVs, and Acadia and Terrain crossovers.
A 65 day supply means that dealerships have enough inventory on-site to sustain current sales volume for the next 65 days. As a reference, a 60-day supply was considered optimal in the U.S. auto industry prior to the COVID-19 pandemic.
2024 GMC Sierra HD
According to a report from Cox Automotive, industry-wide inventory is on the rise, and is currently reaching it’s highest levels since May 2021. In fact, the supply of new vehicles was up 81 percent in November 2022 when compared to the same timeframe last year. However, it’s worth noting that while inventory is on an upward trajectory, it remains low in a historical regard, where pre-pandemic records reflect an 86 days supply as the norm. This supply level provides a good balance of consumer choice while keeping inventory costs low.
“Timing is everything,” Cox Automotive’s senior economist Charlie Chesbrough said. “Production is finally ramping up after being stymied by the chip shortage just as demand started to waiver and vehicle sales slowed down.”
2023 GMC Canyon
This trend bodes well for future GMC products, as Big Red is set to launch a mid-cycle refresh of the GMC Sierra HD lineup, as well as an all-new, third-generation GMC Canyon, followed by the next-gen GMC Acadia all during the next 13 months.
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Comments
Remove the mandatory onstar fee and I bet inventory goes down!
This report is total BS and how many people ordered vehicles that haven’t shown up yet!
I ordered a 1500 in April and still a no show and there are others who have waited longer!
At least they accepted your order. I’m on 3 orders for an AT4 since January 2022 and none of them left 1100 status. Total BS I can’t get a truck built.
What’s the feature on your build that’s causing it not to get picked up for build? Carbon Pro?
Supposedly the 6.2. Everything at Laura GMC for AT4’s has been the Duramax. Build is for a 6.2 / premium package / tech package / sunroof. All pretty much standard for a 75K truck.
There was shortage on the 6.2 around July that was supposed to last through 2023 production. I’ve never seen details that it was resolved.
I had an AT4 built with the 6.2 on 6/2/22 (supposedly with one of the last available 6.2s). Still waiting for some missing parts though no one can tell me what. My joke is it’s missing the engine. Or I wonder if GM was about to have major CAFE issues so they shut down 6.2 production???
The 2023 AT4s that are shipping are only the diesel. But, I am seeing Denali’s with the 6.2 that are shipping. Haven’t quite figured out what is holding up shipment on mine.
Yeah – my original order got cancelled due to the June issues. From what I heard from the dealer it was a production issue. My issue now is you have sold orders sitting waiting for allocation and retail stock units (AT4X, Denali, Denali Ultimate) getting built and sitting on lots. I’ve also found an SLT with the 6.2. Their allocation process is total garbage. And before someone tells me it rewards big dealers that rotate inventory quickly – I’m at a high volume dealer and have been for over 4 months now.
Well, I ordered a 2023 GMC 1500 AT4 spiced up the way I wanted it on 9/25/22, and it arrived at the dealership 1/5/23. Unfortunately, I’m out of town until 1/11 or 12, so I haven’t seen it. Soon as I return, I’ll be at the dealership.
Probably mostly 22s that are getting lot rot because they are still stuck on MSRP ++.
If you are going to overpay at the least get a 23.
The 23’s should have never been on the lot until the 22’s were shipped out of the plant overflow lots. I know of 22’s built in July and August still sitting in overflow lots. 2023 models arriving with all of the chips and lots of 2022 customers waiting for chips. It’s one big cluster *.
My 2022 build in June is still sitting in the overflow lot.
I intend to reject that one when it comes in since I ordered a 2023 on 11/3, but the 2023 still hasn’t been picked up.
Fortunately we have a big recession coming that will slap a lot of these companies and their incompetence hard.
Meanwhile I’m at 370 days and not a single chip retrofit in 2022 2500HD. At 90 days supply of new vehicles, GM will lay off their workforce, and missing chips still won’t be delivered to those who purchased during tough times to keep company alive with the promise (lie) that they would receive these missing parts within 45 days. It’s infuriating every GM dealership I drive by with a lot full of new 2023 vehicles with all the parts, and I’ve been waiting over a year for parts on a 2022 vehicle that was $70k then, and now it is $80k.
370 days and how many hours and how many minutes? GM never said 45 days, you are putting words in their mouth. The dealer might have but during that time there were so many statements and articles out there from/about GM you could have easily pieced together the timeline was unknown. Many articles even state they were targeting mid 2022 for retro fits and back to a regular supply of chips, but that timeline was not set in stone either.
If they are getting just enough chips currently then it does nothing for GM to produce vehicles that do not include them and retro fit customers vehicles, it will cost them way more money, time, effort and further back log dealers and service/parts departments to have a constant stream of retrofits.
When they have a surplus, they will roll them out to customers, you bought it during these trying times knowing full well some luxury items were missing. They are luxury items at that, so stop complaining and just keep following up with the dealer, man up with having a cold tushy for a few minutes…
They still advertise the 1500 Sierra Denali Ultiimate but have a reservation for over a year (witch means nothing) that does not count unless you have a reservation ! Than wait another year!
Once again, news on the 1500 2023 trucks…What about orders for 2023 2500HD???? Zero news. GMC need to put on the big boy panties and tell it like it is. Dealers are clueless and looking stupid, same with customer service….50,000 down and you’re clueless.Told GMC yesterday I will give them 2 months or I pull the cash and move on.
Good news!
3500hd duramax ordered November 2021. Was built in February 2022. Dealer cannot tell me where it is or when I will see it. Probably waiting for me to get annoyed and cancel. This is $C, but deal was full load SLT $90K. Over the past year, those are hard to find and would sell much higher. I’m starting to think they sold my truck elsewhere. If I cancel, I lose my price protection…. They offered me another truck in August for $7K higher and many options missing, I rejected that. Fourteen months since order date… What’s normal anymore?
I checked my local CHEVROLET, GMC and BUICK dealer, zip code 32828. Claim to have 133 Sierra’s (both 22 & 23 models) but it reads for sale in Orlando and by the sequencing of stock numbers, it looks like inventory from all of Orlando GMC dealers, (three dealerships) . Most of Orange County, Florida is called Orlando because of the post office naming. Acadias, claim to have 20 in inventory, 9 with 2.0L turbo and 11 V6’s all with ONSTAR $1500 Option. All have discounts on the MSRP.
Since they all come with black interiors you can have anyone you want. I bought a RAM since they had more than black interiors.
How is there even a 60 day supply when my 2022 Sierra order hasn’t been delivered and my 2023 order hasn’t been accepted?
2022 Sierra AT4 ordered 3/9/2022, built 6/20/2022. Still not shipped.
2023 Sierra AT4 ordered 11/3/2022, still hasn’t been accept and dealer just told me GMC is not accepting new orders until after 1/19/2023.
QUIT BUILDING DEALER TRUCKS THAT NO ONE WANTS. START BUILDING CUSTOMER ORDERS!!!!
I have been waiting since August. Now they tell me it’s built but it’s sitting in a overflow lot due to logistics !!! I’m so mad can not get no one to call me with an update!!
DEAR GM AUTHORITY, as you can see, lots of UNHAPPY Customers that need ANSWERS, could you guys help out these folks?
the damn dealerships can’t seem too.
Dealers are in the dark. GM communicates nothing.
I placed an order in August for a 2023 AT4 1500 diesel all options but carbon pro and it was built end of October and delivered 2 weeks later. Huge fan of the new LZ0 and that is coming from a guy that had three previous tuned Sierra’s with the 6.2 and a wife with a 2022 6.2 Tahoe (ordered Nov. 21 and delivered end of Jan. 22). I think a lot of the orders placed have to do with allocations your dealer has and constraints at the time the order is placed. My small hometown dealer has always taken care of me, but I do reward them with some nice bourbon as a thank you.
My understanding is that once a vehicle is manufactured to the point of a VIN (could have missing parts/chips) then a dealer invoice is generated. Once the dealer receives the invoice they have to pay on terms or GM will floor plan for the dealer at some financing cost. GM is being paid for the vehicles they can’t/won’t deliver. They won’t answer questions from either the dealer or the customer.
The demand is high enough they can just stiff both their dealer networks and the end users.
Sad.
Many of the 22s that were manufactured have the VIN but they’re sitting in a lot missing numerous parts. GM will not invoice these models and they have not been reported as sales. All versions appear to have the 6.2.
My 2022 was invoiced and is a LM2. Still sitting in the overflow lot.
As long as GM is forcing OnStar in the price…No More GM for Me.
I ordered a 2022 Terrain sle with the pro safety package. It’s missing the cross traffic, blind spot warning and lane change alert. I didn’t get they said it was out of stock and didn’t order a retro fit. And they decided to give the 2023 model. I wouldn’t have taken possession of the vechile if I had know I didn’t get what I wanted till after I signed the papers.
And the 2024 is coming early spring????
Yeah sure ok
Dealer lots almost no gmc 1500 trucks or 2500, 3500 . Chevy the same
I agree 100% Steve! Our area GMC/Chevy dealers have virtually no inventory of full size trucks and even less of full size SUV’s!! This report from GM Authority is not accurate at all. I have a Z71 Tahoe and a 1500 AT4 on order from our Chevy & GMC dealers. Both with the 6.2L. Both started out as ’22 retail orders in April & May of ’22. Then they got bumped to ’23 model year in July. Now in January of ’23 and neither order from either dealer has moved past 3300 “order selected, scheduled for production” and 3400 “order broadcast for production”. I can’t begin to explain how frustrating this is and there is no change in site.
I feel for you… I’m at 51 weeks now at 1100 status between 3 orders for a 1500 Sierra. But they’ll keep cranking out those 4 cyl turbo’s to keep the CAFE numbers looking good. You’d hope now that we’re in a new year the stats would reset and they can actually build customer orders from those of us wanting the 6.2 instead of lot trucks that will just sit around.
WatingonAT4, 51 weeks and no further along than 1100 status! That’s unbelievable. It’s amazing how unimportant a retail order is to GM. Your exactly right, the turbo 4’s and a few 5.3L are all that shows up on dealer lots.
I’ve been a Chevy Silverado driver for 15 years I finally gave up and got a F-150 certified pre-owned they gave me a deal I could not resist and they gave me a lot of my Silverado when I went to trade it in. But I still have my sweet 162023 Chevy Camaro to SS and we love it.
Good news for me.
Ordered a 2022 3500HD Duramax in November 2021 as noted in earlier comment.
Received a call today from the dealer that my truck will be shipping soon and is expected to deliver approximately mid February.
The story I was given is that so many vehicles were parked in large enclosures that they ended up with first in last out problems.
So my truck will be delivered about one year after it was custom built for me.
You should get a discount or they could end up with another 22 on their lot when they do not want 23HDs on their lot.
ET, that is good news! I’m concerned that GM is full of “stories” to give to dealers and customers about late or no availability of retail vehicles. I’ve got a pair of low cab forward Chevy 3500’s for our business on order aside from the AT4 and Tahoe. The LCF’s were ordered in February of ’22 and are somewhere between Japan and Savanah, GA now. Same situation, started out as ’22’s and are now ’23’s with a massive freight charge increase.