Inventory levels of new Cadillac vehicles remained low in October 2023, with just 48 days supply on dealership lots at the beginning of November – a figure well below the 60 days supply considered optimum by many car industry analysts and automakers alike.
However, Cadillac inventory increased somewhat compared to August and September, with both months registering 46 days supply according to Cox Automotive analysis.
These metrics indicate Cadillac inventory increased 4.4 percent month-over-month in October. However, it was still the automaker with the fifth lowest days supply out of all those tracked by Cox, with only Toyota, Honda, Kia, and Subaru registering lower inventory and Toyota lowest at 33 days supply.
Dealerships appear to be unable to keep the brand’s most popular model in stock, with the Cadillac Escalade SUV having only 20 days supply of new vehicles on hand during October.
Meanwhile, Chevy has the next lowest inventory with 66 days supply, followed by GMC at 71 days supply, both above the optimal 60 days benchmark. Out of GM’s quartet of passenger vehicle brands, Buick had the highest supply, with 107 days of new vehicles in stock on dealership lots during the month.
The auto market as a whole is seeing days supply climb as well, with the industry average at 67 days for October 2023 compared to 60 days at the end of September. Total inventory skyrocketed 919,000 units compared to last year, reaching 2.4 million new vehicles and spotlighting a 62 percent year-over-year gain in spite of recent strikes.
Cox senior economist Charlie Chesbrough weighed in on the situation, observing that “the supply issues that started in 2021 appear to have passed as most brands have seen their availability improve substantially.” He remarked that this increased production is now piling up unsold on dealership lots because “market headwinds from high interest rates and high prices are muting sales.”
Chesbrough added that with the arrival of “the holiday sales season, greater discounting from the automakers seems likely,” but that if this does not happen, days supply figures will probably continue climbing.
For now, automakers aren’t significantly lowering their prices. The data shows that the average listing price is close to stable both month-over-month and year-over-year with the October 2023 figure of $47,251 down just 1.5 percent compared to October 2022.
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Comments
slightly??
nearest cadillac dealer has 12 escalades on the lot. 5 under 100k msrp (95-97k)
you couldnt see one on there for 2 years and ordering was with 20k surcharge and they would only order the max trim to begin with.
so yeah that is slightly for sure. next month there will be 15-20 sitting on the tarmac. and they have great financing offers, but they dont qualify anyone for them if anyone wonders.
Who decided to discontinue the ct 6 in America, their only full sized sedan. The Chinese have the new ct6 in their country, and their people are tiny, and not fat, our people can’t fit in these small cars, so we’re forced to get subs, no choices for full size comfort cars, gm execs, should be fired, but wait, a miniute, aren’t they fat, obese people, that forced us American into suv, because being fat and obese is normal in America. Very sad.