In the first few months of the 2024 calendar year, Cadillac inventory levels across the United States hovered right around the industry optimum at a 60 days supply in January 2024 and 63 days in March 2024. In keeping with this trend, the luxury marque’s inventory levels rose once again for April 2024, yet remain below the industry average.
According to a report from Cox Automotive, Cadillac inventory levels stood at a 72 days supply as of April 2024, while the industry average was recorded at 76. This means that at the current sales pace, there is enough inventory on dealership lots to last for 72 days. Notably, a 60 days supply mark is generally considered optimal in the industry. In comparison to the rest of General Motors’ U.S.-market brands, Caddy was ranked in the middle as Chevy, Buick and GMC stood at 70, 77 and 79 days of supply, respectively.
It’s worth noting that these all figures are related to the U.S. market.
In regard to Cadillac average transaction prices, the luxury marque saw a 4.1-percent jump from $70,925 per vehicle in April 2023 to $73,799 in April 2024, while ATPs also rose 1.8 percent month-over-month from $72,528 in March 2024.
Finally, the average price for a new vehicle in April 2024 was $48,510, which was just slightly down from the year prior. Across the automotive industry, it appears as though more-affordable models feature lower supply levels, while the highest-priced inventory – $50,000 or more – increased 5.5 percent month-over-month to an average of a 90 days supply. Meanwhile, discounts and incentives dipped to 6.3 percent of the average transaction prices in April 2024, the first such decrease since October 2023 where incentive levels ticked from 4.8 percent in September 2023 to 4.7 percent.
For background, this study was based on the daily sales rate for the most recent 30-day period – which in this case ended on May 2nd, 2024. Over this timeframe, April 2024 sales rose five percent on a year-over-year basis for a total sales pace of 15.5 million units.
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Comments
Under Barra GM is below average at everything.
Time for a change of leadership at GM.
You do realize, in this case, that below the industry average is a good thing for the manufacturer, right?
wonder if it is more to do with lack of demand and keeping production low so inventory does not build up. Wonder how long they stay on lots? Demand for the brand, if you look at favorability scores and such, is just not there. Reviews are negative except for Blackwing it seems. Tech is behind and the engines are same as buick and chevy. The decision to electrify might be death knell for Cadi.