The latest data from GM indicates that new vehicle inventory for all of its brands stood at a total of 456,686 units as of December 2023, amounting to a significant year-over-year increase of 11.2 percent.
The inventory total includes GM vehicles already on the ground at dealership lots as well as those in transit to dealers, and is a 3.2-percent rise compared to September 2023 at the end of the previous quarter.
Despite earlier supply chain difficulties and the UAW Stand Up Strike, GM inventory levels have been high for several of its brands in recent days. The General has taken steps to correct for the surplus stockpile accumulating at dealerships over recent months.
In November, Buick dealers had 106 days supply available, more than 50 percent above the 60 days supply considered optimal in the auto industry. The figure was only a single day lower than the 107 days supply the Tri-Shield registered in October 2023, though that was itself up 31 percent from the September figure of 82 days supply.
None of the four main brands had inventory levels below the 60-day optimum in November. The closest to that threshold, Cadillac, had 61 days supply at dealerships, while Chevy and GMC had 71 days and 73 days supply respectively during the month. The accumulation of stock mirrored a broader trend across the industry that saw 71 days supply average inventory across the U.S. auto sector.
While General Motors closed its North American production facilities during the week of December 25th, 2023 as part of its customary Christmas break, the automaker also idled several facilities for the first week of January 2024. The Fort Wayne plant in Indiana, producing the Chevy Silverado 1500 and GMC Sierra 1500, and the Oshawa plant in Canada, where Silverado 1500 and Silverado HD trucks are produced, got an extra week of downtime, a situation mirrored at the Factory Zero plant where the GMC Hummer EV and the Chevy Silverado EV are ordinarily produced.
While the extra downtime is related to maintenance and upgrades, the additional pause may also have helped ease excess inventory levels heading into the new year.
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Comments
There are lots of 4-cylinder Silverados on the lots here. There are really good deals if you want one, I saw one online that had $11k off MSRP.
they would have to pay me to give me a turbo engine DI truck
and i will want them to cover its insurance premiums for 10 years on top of that
Agree, that’s my point, they are $11k off MSRP and still on the lot. I won’t buy one either.
What do you do when that turbo blows up in 7 years?
If the gm truck I want is not on the lot, I will go to another brand. I will not let gm hold me hostage to high prices. They are making huge profits on ICE trucks to fund their il-fated-too soon government dictated EV push. I refuse to pay, though I would have preferred a gm truck.
I have to the end of this year to buy a new truck. I hope I can find a Z71 / AT4 $20K below sticker, you know, a reasonable price. If not I will buy used or from a -god forbid- foreign brand.
With all the new vehicle surplus, when are they going to start fixing the customers cars that were sold with missing chips because of a “shortage”? My brother has been waiting 16-17 months for his 2022 Tahoe Z71 to be “finished”. gm needs to get their priorities in order. They have lost our families loyalty, we were lifetime gm customers for 50+ years.
Last week of Feb will be a good time to make a deal.
Sales people will be falling over you when you walk thru the door.
If interest rates were low, demand would be much higher and inflation would be MUCH higher!
I bought my new 2023 Enclave on the last day of the year. Dealers need to make their sales numbers, it was $7k off the sticker. The dealer added $899 for the dealer fee. Nothing else. Only in the shark tank was extra insurance and maintenance offered. Easily turned it down with no arguments. A great experience at OrangeBuickGMC outside of Orlando, Fl.
Dealer fee??? That’s a ripoff.
Is it any different than baggage fees?
About $850 different?
I don’t feel sorry for gm or the dealers. Between the price increases and the “fees”, you know, additional dealer profit, they can stick it. I’ve been toying with getting a new truck, preferably a GMC. But it’s ridiculous the prices. Every color for a GMC truck, other than white, is extra cost. Chevrolet not so. Some are still no extra cost. I hate to go to a different brand, always been GM, but who knows.