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.