Inventory levels of Cadillac were notably above the industry average at an 83 days supply back in May 2024. With that in mind, inventory of the luxury marque remained on the higher end in July 2024.
According to a report from Cox Automotive, Cadillac inventory levels stood at an 84 days supply as of July 2024, while the industry average stood at 68. This means that at the current sales pace, there is enough inventory on dealership lots to last for 84 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, Cadillac was ranked on top as Chevy, GMC, and Buick stood at 64, 69, and 80 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 $47,307, which was $159 lower as compared to this time last year. However, there were several brands that featured more attractive average listing prices.
With incentives remaining on the rise, deals will continue to encourage older models to be picked up by consumers. Additionally, as supply of the used-car market tightens, customers may increasingly turn to the new car inventory once again. As of the time of this writing, there were 2.79 million unsold new vehicles in the United States as of early August 2024, a 3.6-percent decline in volume on a month-over-month basis. While days supply reporting remains inconsistent, the inventory numbers appear to have stabilized and demonstrate a decent pace of new vehicle inventory hitting showroom floors.
For background, this study was based on the daily sales rate for the most recent 30-day period, which in this case ended on August 1st, 2024.
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Comment
2 years ago when I was shopping Cadillac, my closest dealer said that they had in stock what I wanted. As I talked to them, and looked at their pathetic inventory on my laptop.
They didn’t have what I wanted, nor anything close. Needless to say on to the next dealer…