In November 2023, inventory levels of GMC vehicles across the United States stood at a strong 73 days of supply, which was up from the 60 days supply mark that’s generally considered optimal across the automotive industry. Now, inventory of Big Red’s vehicles dropped slightly in December 2023.
According to a report from Cox Automotive, GMC inventory levels stood at 68 days of supply as of December 2023. This means that at the current sales pace, there is currently enough inventory on dealership lots to last for 68 days. In comparison to the rest of General Motors’ U.S.-market brands, GMC was ranked roughly mid-pack as Cadillac, Chevy, Buick stood at 52, 70, and 106 days supply, respectively, while the industry average was 70 days of supply.
It’s worth noting that these figures are related to the U.S. market.
This is an interesting development when considering that General Motors has been actively taking steps to reduce its surplus inventory across all its U.S. brands. While most facilities were closed towards the end of the 2023 calendar year in observance of the holidays, the Detroit-based automaker also scheduled an extra week of downtime at the Fort Wayne plant in Indiana where the GMC Sierra is built, as well as downtime at the Factory Zero plant in Michigan where the GMC Hummer EV is manufactured, for various maintenance projects.
Of course, while GM’s intention may not have been to lower supply levels, this decreased production output has the potential to help reduce supply figures moving through January 2024 and beyond.
As background, this study was based on the daily sales rate for the most recent 30-day period – which in this case ended on January 1st, 2024. Over this timeframe, December 2023 sales jumped 13 percent on a year-over-year basis for a total sales pace of 15.8 million units.