Over the course of November 2023 and December 2023, inventory levels of GMC vehicles fluctuated around the 70 days supply mark. Now, Big Red’s inventory made a notable increase during January 2024 to slot in above the industry average.
According to a report from Cox Automotive, GMC inventory levels stood at 83 days of supply as of January 2024, while the industry average was 80. This means that at the current sales pace, there is enough inventory on dealership lots to last for 83 days. Notably, a 60 days supply mark is generally considered optimal across the automotive industry. In comparison to the rest of General Motors’ U.S.-market brands, Big Red was ranked roughly mid-pack as Cadillac, Chevy and Buick stood at 60, 81, and 119 days of supply, respectively.
It’s worth noting that these all figures are related to the U.S. market.
This rise in inventory levels is an intriguing trend, as General Motors has been performing actions that would normally reduce inventory across all its U.S. brands. In regard to GMC specifically, most of its facilities were closed towards the end of the 2023 calendar year for the holidays. Additionally, 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. As such, one might expect inventory to decrease, not the opposite.
That being said, these decisions likely weren’t made to address the surplus inventory itself. Moving forward, this may change as the days supply figure continues to rise.
For reference, this study was based on the daily sales rate for the most recent 30-day period – which in this case ended on February 5th, 2024. Over this timeframe, January 2024 sales rose nine percent on a year-over-year basis for a total sales pace of 15 million units.
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At a time of year when luxury car ATP usually rises.
Sales decreased 5.6 percent to 16,670 units during the first ten months of 2024.
Specifically critical minerals supply chain development.
Scheduled for a Spring 2025 launch.
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Recession incoming... 3... 2... 1...
Karma for those “market adjustment” up-charges the past couple years…
Just traded my 21 Nox for 24 Terrain SLE AWD.
$3000 GMS, $1500 Retail Discount, $8000 net on the trade in. 3.9%/5 years on the balance. Not $1 out of pocket.
Sun Roof, Conv Pkg, Embedded Nav, Premium Winter Mats, Pwr Liftgate, Safety Pkg.
Great time for a sweet deal .
Let the transition from a seller’s market to a buyer’s market begin.
About time.
As the price goes up, the sales go down. The public needs more basic models to be manufactured at lower prices.
I ordered my optioned out Sierra 1500 SLT on December 30th and the dealer said GM has not accepted the order yet due to the loaded truck so I bought one a dealer-trade model.