Chevy Running At Just Over 55 Days Supply In January 202315
New Chevy vehicle inventory stood at 55 days supply in January 2023, down slightly from the 60 days supply in December 2022.
With Chevy now proactively managing its inventory to remain within a range between 50 days and 60 days supply, January inventory falls squarely in the middle of that optimal range.
The inventory level of new Chevrolet vehicles in January 2023 also closely matches the 60 days supply considered optimal within the U.S. auto industry before COVID-19. As a reminder, a 60 day inventory level means that dealerships have enough inventory on-site to sustain current sales volume for roughly the next 60 days. This 60-day level is typically considered optimal by many automotive sales organizations, including the National Automotive Dealers Association (NADA).
Chevy’s inventory situation closely matches January new-vehicle inventory levels for the overall automotive sector. Cox Automotive reports U.S. supply of new vehicles at 57 days in January 2023, a slight decline from 59 days supply in December.
New vehicle supply has rebounded strongly year-over-year after automakers resolved many of the supply chain issues troubling the sector for several years. For instance, new vehicle inventory was up 65 percent in January 2023 compared to January 2022. It is still significantly lower than typical pre-pandemic levels, however, when automakers had inventory levels amounting to 95 days supply at the end of January 2019.
Different companies and brands showed sharply different supply levels. In particular, vehicle price and type affected inventory levels. With interest rates currently high and incentives generally low, consumers gravitated toward lower-priced cars. Vehicles priced under $20,000 had an average of 31 days supply in January, showing they are moving quickly off dealer lots. These were mostly subcompact, compact, and midsize cars.
Meanwhile, larger, more expensive models tended to accumulate higher than average inventory levels. Those priced between $50,000 and $80,000 usually had more than 70 days supply at dealerships in late January. Electric vehicles and full-size pickup trucks also tended to see higher inventory levels.
New vehicles from the Jeep brand had the month’s highest inventory levels at 123 days supply. However, Chevy also experienced some of this buildup with specific nameplates; its best-selling model, the Chevy Silverado truck range, had 100 days supply during the month.
This led the Bow Tie to plan on idling its Fort Wayne plant, located in Indiana, for two weeks, starting the week of March 27th, 2023. The pause will halt production of Chevy Silverado 1500 and GMC Sierra 1500 pickup trucks at the site, a move intended to help bring inventory of both nameplates down to more optimal levels.
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The optimal inventory level headline for GM / Chevy is very misleading. The current Chevy inventories are far from optimal . While Chevy as a whole may be 55 days , large pickups are at 100 days , while their smaller in demand vehicles, Trailblazer ( 12 days), Encore GX, Terrain, Equinox (36 days) etc. have virtually very little inventory.
So if you are looking for a new ride, a chevy dealer will have difficulty supplying what you want unless its a full size truck.
This will only be exasperated as they launch the new mid size trucks ( limited Capacity, maybe 150,000 units for both Chevy and GMC combined ) and the new Trax which likely will impact the capacity of the already scarce Trailblazer / Encore GX.
I ordered a 22 Silverado in April, was put over to 23 in June, have been waiting for a long time with no response on delivery date and still waiting
You’ve been waiting 10 months for a Silverado? Something is clearly wrong somewhere.
GM says 2500 HD, and other large vehicles, is at 100 day supply, iv been trying since Oct. Of 22 to find one here in North East. Nothing around. Finally built a ’24 with it accepted by gm but no idea when it will be done, or even started. Any idea when production will begin?
I bought a 2020 Silverado High Country 6.2 gas (4×4) and LOVE IT.
That 6.2 engine and 20 sod Tran. …..hauls a_s… seriously!!!
Had the 6.2 in my H2 and Escalade… outstanding motor GM
Don’t goof it up, please.
NO electric in my blood line….GASOLINE ONLY
Long waits for Silverado 1500’s have been going on for three years now. Yes they have crap boxes on the lots, mostly four cylinders and Custom along with a few LT’s. If you want any high end trim you won’t find many. Most who want a higher trim level also want particular engines and drive trains but ordering them takes months to over a year IF you ever get it. I know because I waited 15 months, two model years, and three attempts before getting an allocation for what I wanted. There are many who are either still waiting or have given up. They might tell you they have ample supply, that is BS. I deal with a small town dealer who in normal times would have 50 or so trucks with all trims and yesterday he had 13 with 11 of them being the 4 bangers. It is simple, GM overbuilt those with hopes customers would buy them and now they are not so hoping if they fail to keep other models available customers will cave and buy what’s there.
Yes Paul, four cylinder models because what I said. To many 4 cylinder engines were built and it’s an expensive inventory. Unload them and ship to dealers, not what customers want nor dealers.
Most likely built to make the EPA mandates for average corporate mileage.
Just more marketing BS to make things seem normal. Interesting the article reads “Meanwhile, larger, more expensive models tended to accumulate higher than average inventory levels.” Dealer built vehicles are always loaded up and when supplies are tight all manufacturers unload their “available” inventory to get a higher transaction price. For three years everyone jumped on the band wagon buying anything they can get their hands on and national resellers paid stupid prices for used vehicles. Now two week furloughs for America workers but the plant in Mexico remains in production.
Yup, that’s why I will order what I want to avoid playing that game or I will just wait them out.
Price, Incentives and Inflation/Recessions will soon outpace the market. Ft Wayne plant maybe idled multiple times this year! Not counting repossessions are on the rise at 6.05%.
Or they could run incentives and help bring down the prices so people can afford them again. The sales are slowing because people are running out of Biden bucks. My coworker has a friend who refinanced his house, kept the payment the same and took the cash out option. Bought 2 denalis, quit their job and took bidens unemployment package. GM needs to realize that at the end of this when the free money runs out if they’re not prepared to help the average American get a car, they will go the way of the dodo. Just ask AMC, studebacker or any other failed automaker. They aren’t financially sound either. Their “record profits” are no keeping up with inflation. Last years profits were half what they had in 2015 once adjusted for inflation.
This is really hard to believe. There is still very little inventory on the dealership lots in Indiana, especially Silverado’s, almost nothing to choose from.
When you sell 1 car a year, that 1 car is a years worth of inventory. By that logic GM would prefer you have an empty lot. A bit of an exaggeration, but regardless, when their asking 60’000 dollars for a Silverado LT/GMC SLE, sales will be slow.
I’m not in the market for a new car. I’ll just keep repairing my old one. Dorman like my money more than the general obviously. I’m mostly here to see what engine I should pull from the junk yard to keep mine running
That’s what I used to do for years but finally bought a new Silverado in 2012 and now thinking about replacing it but not under the current conditions. I’ll wait.
Looks like GM is just controlling the supply and demand effect. No need to explain what happens when their supply is low and the customer demand is high.