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GM Authority

Chevy Dealer Inventory Stable In April 2024

During January 2024 and March 2024, inventory levels across the United States of Chevy vehicles generally hovered around that of the industry average at 81 days and 69 days, respectively. Now, the Bow Tie brand’s inventory remained relatively stable over the course of April 2024 to slot below the average across the automotive industry.

According to a report from Cox Automotive, Chevy inventory levels stood at a 70 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 70 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, Chevy was ranked at the bottom as Cadillac, Buick and GMC stood at 72, 77 and 79 days of supply, respectively.

It’s worth noting that these all figures are related to the U.S. market.

Front-three-quarter view of Chevy Silverado.

In regard to Chevy average transaction prices, the Bow Tie brand saw a 1.7-percent decline from $48,317 per vehicle in April 2023 to $47,486 in April 2024, while ATPs also decreased 0.2 percent month-over-month from $47,592 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.

As 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

  1. I don’t know what the heck GM is doing (probably still dreaming of new EVs), but Chevy CUV inventory is pathetic, at least around here. Finally, there are more Trax, but all others are WAY down.

    Reply
  2. This made me think of my visit to the dealership yesterday. While out for a leisurely drive in my 1986 Cadillac Seville, my daughter wanted to stop at a certain store which was near my Chevy dealer. So I decided to stop in and say hello. To my surprise, the first vehicle I saw on the floor was a new Equinox EV. I’m not an SUV/CUV fan, but I have to say it was a really nice vehicle! The only thing that was stupid is that the door handles were sticking out like little wings. I asked my guy what was going on with those and he laughed and said they will always stick out IF the door are close and it’s not locked. How stupid. Next to it was a Blazer EV and it has the normal door handles. We both agreed that the Equinox’s door handles are silly and too much. They are similar to the Tesla’s.

    Sadly, then entire floor was filled with SUV’s and trucks with the exception of a Vette. Not a Malibu to be seen. I asked if they have any and he said yes. Where? Hidden in the far back reaches of the back lot. It shocking how GM actually sells any Malibu’s with the way they and dealers treat them.

    Reply
    1. I know of dealers in the midwest that for most of 2023 sold every Malibu before it got delivered. And some dealers that begged for them and could only get 2-3 per month. Granted I have not talked to them in last six months-lol

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      1. Yeah, Malibus are very popular in my Midwest state, it’s a huge mistake to discontinue them. Kinda like saying you will stop make ICE vehicles in 10 years.

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    2. I received a mailing yesterday from GM Master card advertising 2024 Silverado 1500 CrewCab with 5.3 V-8 with total cash allowance of $4750. Normally these rebates are for the 4-cylinders that don’t sell. After I add in the employee dictums and $2200 from my card credits my discount could be $10k. I need to take a closer look!

      Reply
    3. Malibu’s will end production in November of this year, so don’t even think of ordering one because they’re history…again. This past January saw the end of Camaro production so the only cars left is the Corvette and a couple models of Cadillac’s. In my younger years I had a ’72 Vette but now, no way can I get in one comfortably, and forget about paying the price for the Cadillac name. Therefore, if I decide to purchase a new sedan in the coming years, I’ll try going over to another auto manufacturer who is still building them, find one that I like, tell them I get a GM discount and if they’ll honor it I’ll purchase whatever I see that suits my fancy. Loyalty has it’s limits like everything else.

      Reply
  3. Sadly, the Malibu will be discontinued at the end of the model year. Only Cadillac still makes two gas powered sedans in the GM lineup. Ford and Stellantis already discontinued sedans. Not everyone wants a crossover, pickup, or an SUV. A person who wants to buy an American nameplate sedan now is virtually forced to buy an imported nameplate sedan, until they too are also discontinued.

    Reply
  4. Homie don’t think so

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  5. The dealers these days are putting out a limited number of acceptable vehicles with 4 cal engines; almost no choices for the buyer. I will continue to keep my GMC Terrain, 9 yrs old, denali, until it gets too expensive to repair. I also refuse to buy the other brands made elsewhere as we have always been GM people.

    Reply
    1. Yeah, me too I’m just keeping what I have until the wheels come off.

      Reply
  6. I have a 2020 2.0l AWD Equinox , and just took delivery of a new Colorado Z71
    I have owned ( or fleet) 39 new GM vehicles starting with a chevy Vega in Dec of 1973.
    While there are many who do not like the direction GM is taking , i can tell you my last 2 GM vehicles are among the best i have every had, and i have had a big variety, Vega,V8 Novas, V8 Malibus and Impalas and Caprice sedans , Lumina , Corsica, Olds cutlass, Pontiac Grand Prix, Cruze LTZ, 2 S-10 4WD pickups, 2 Colorado pickups, 6 different Equinoxes , 2 of each gemeration2005 , 2007, 2011, 2013, 2019, 2020, GMC Terrain etc etc.
    These were are brand new cars
    One of Equinoxes is a 2019 Premier 1.5l AWD and has 250,000k This car has been totally reliable and trouble free , other than routine maintenance , tires, brake pads , oil changes we have had no major component failures, no turbo issues , etc
    We have a new 2024 Trax at work and its one of the best entry level cars available today.
    GM is making great vehicles today, and they are some of the best ever from the brand.

    Reply
    1. Man, you drive a ton of miles!

      Reply

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