GMC Dealer Inventory Above National Average In October 2024

Inventory at GMC dealerships remains higher than the national average for the auto industry and continued to slowly increase in October 2024, reaching 93 days supply – an even bigger backlog of unsold vehicles than the brand’s 90 days supply in August.

Production is clearly outpacing supply in the auto market as a whole, too, with 85 days supply as the average for U.S. dealers per Cox Automotive research. This average and GMC’s inventory are both about 50 percent above the 60 days supply deemed optimal in the industry.

Among specific Big Red nameplates, those models with the lowest inventory for October include the GMC Acadia and Terrain crossovers, the GMC Yukon full-size SUV, and the Savana commercial van. The Hummer EV in both its SUV and Pickup configurations and the Sierra EV pickup have the highest days supply.

Meanwhile, the brand’s most popular model – the GMC Sierra 1500 truck – has significant inventory built up as well, which GM Authority estimates at being around 100 days supply. The automaker is offering a range of incentives and purchase offers for assorted Sierra variants in November 2024, making it possible to find a deal on this pickup model.

Meanwhile, in the United States auto market as a whole, new vehicle inventory across all brands has broken above 3 million units, a figure not seen in the past 12 months. Estimated retail sales for the month of October stand at 1,072,173 vehicles. Though this is up from September 2024, sales are in line with monthly figures for the preceding year.

October’s 3-million vehicle supply is a whopping 29 percent higher than the total inventory at U.S. dealerships in October 2023. However, rising inventory hasn’t driven down prices, which are instead slightly higher than a year ago. Days supply in inventory has risen 14 percent year-over-year.

Cox summarized the market situation by stating “new-vehicle price inflation has come down to earth, but average vehicle listing prices have stubbornly remained above $47,000 for more than two years now with no sign of relief.”