Since the start of the 2024 calendar year, Cadillac inventory levels have steadily risen yet largely hovered around the industry optimum. With that in mind, inventory of the luxury marque made a sharp rise for May 2024 to stand well above the optimal level.
According to a report from Cox Automotive, Cadillac inventory levels stood at an 83 days supply as of May 2024, while the industry average was at 74. 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 is generally considered optimal in the industry. In comparison to the rest of General Motors’ U.S.-market brands, Cadillac was ranked on top as Chevy, Buick, and GMC stood at 69, 71 and 82 days of supply, respectively.
It’s worth noting that all these figures are related to the U.S. market.
Interestingly, the average price for a new vehicle in May 2024 was $48,389, which was a statistically insignificant change from the month prior. Likely due to the Memorial Day kick-off to the summer selling season, incentives and discounts rose to 6.7 percent of ATP, a small jump from April 2024 numbers and the highest level since May 2021.
Additionally, with new vehicles starting to fill up dealership lots, these incentives and discounts are expected to remain, especially following the Federal Reserve’s decision to keep interest rates at current levels. As of early June 2024, there were 2.89 million unsold new vehicles in the U.S., an increase in volume of more than 1 million units since last year.
For reference, this study was based on the daily sales rate for the most recent 30-day period, which, in this case, ended on June 3rd, 2024. Over this timeframe, May 2024 sales rose five percent on a year-over-year basis for a total sales pace of 15.9 million units.
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Comments
They are only offering $500 off MSRP on many of their models at area dealers, thus the 83 day supply. Salesman told me high interest rates are really hurting even Cadillac. We are going next week to attempt a deal on a XT4.
I hope u do not go to Cadillac of Las Vegas they are the worst dealership in lasvegas
Wouldn’t be surprised if we start to see some serious incentives soon
Keep producing models the buyers don’t want inventory will increase more , example EVs … Transfer Mary to China she carters more to their people..