Chevy Equinox Supply Decreasing In April 2023
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GM Authority sources familiar with the matter tell us that Chevy Equinox inventory levels across the U.S. fell once again in the beginning of April 2023.
Roughly 10,600 units of the Chevy Equinox were on the ground (at dealerships) as of early April, with an additional 5,900 examples on their way to dealers. This gives the Equinox a 19 days supply, meaning that inventory levels are able to sustain 19 days’ worth of current sales volume. As context, a 60 days supply is considered optimal.
By comparison, March 2023 inventory levels were higher than those in April 2023, when the Equinox had nearly 15,000 units on dealership lots and an additional 7,000 units in transit for a 26 days supply. However, those figures are also down from February 2023 inventory levels, where the Equinox had 18,000 units on the ground and 9,000 units in transit for a 36 days supply.
As can be expected with dwindling supply, sales of the Bow Tie brand’s second-most popular offering fell as compared to sales figures from the same timeframe last year.
Chevrolet Equinox Sales - Q1 2023 - United States
In the United States, Chevrolet Equinox deliveries totaled 52,902 units in Q1 2023, a decrease of about 6 percent compared to 56,036 units sold in Q1 2022.| MODEL | Q1 2023 / Q1 2022 | Q1 2023 | Q1 2022 |
|---|---|---|---|
| EQUINOX | -5.59% | 52,902 | 56,036 |
In regard to the current 2023 model year, the Equinox is only offered with one powertrain combination, the new-for-2023 turbocharged 1.5L I4 LSD gasoline engine, rated at 175 horsepower and 203 pound-feet of torque, and the GM six-speed automatic transmission. The LSD engine replaced the turbocharged 1.5L I4 LYX gasoline engine, where the previous engine developed 170 horsepower and 203 pound-feet of torque.
Under the body panels, the Equinox rides on the GM D2 platform, while production takes place at the GM Ramos Arizpe plant and the GM San Luis Potosí plant, both located in Mexico. Production of the 2024 Equinox is currently scheduled to kick off on May 8th, 2023.
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Let’s take the second best selling vehicle in our portfolio and stop making it at one plant and reduce capacity at another plant and hope we can keep up with demand. Obviously, Mary doesn’t want to keep customers!
They are also offering 1.9% financing and no payments for 90 days, or $1500 cash back, on 2023 Equinox. With the model year changeover happening in May it is no surprise that inventory levels of 2023 models are dropping. No sense in loading up dealers with 2023MY vehicles when the 2024MY goes in to production in 3 weeks. In the “old days”, GM would have loaded up dealers with the outgoing model year and then started delivering the next model year at the same time. This would have then forced aggressive incentives on the outgoing model year vehicles to move them off the lots. Those days are long gone.
I have owned several GM vehicles over the years [more than any other manufacturer], but my current one will most likely be my last. I guess you could say I am in the market to replace my now 8yo Chevy. However, there are only 2 GM models that have generated any sort of interest for me. That interest is just casual at best. Otherwise, their products have become bland and unimpressive. The quality of GM dealerships has also become questionable in both sales and service.
GM is determined to keep supplies low so they can avoid rebates. Good for them, but not for buyers.
It’s an outdated vehicle and a new one is on the way, so why lower prices now only to jack them up on the new model?
Interested in the 2024 Equinox. When will it be available.