The inventory of new GM vehicles on dealer lots is up 2.8 percent year-over-year at the end of March 2025, which is also the end of the first quarter (Q1), with 549,312 units currently at U.S. dealerships.
While this represents a moderate increase from the end of Q1 2024, GM new vehicle inventory is also down 8 percent from the end of Q4 2024.
The drop compared to late 2024 is perhaps unsurprising since GM inventory ballooned by 30 percent during the final three months of last year. About 596,775 units were in dealer inventory at the end of December 2024, at the same time that vigorous sales were under way. GM executive VP Rory Harvey said that The General achieved these results “by investing to have the best portfolio in the industry. We have something for everyone, no matter what they like to drive.”
GM inventory was lower during the first quarter of 2024 at 534,479 units, but even this represented a significant increase from previous levels. Inventory rose 30 percent compared to Q1 2023, with then-senior vice president and president for North America, Marissa West remarking at the time “inventories are in good shape heading into the spring” with a 63 days supply.
GM also noted that its sales grew 17 percent during the first quarter of 2025. It says that it continues to dominate sales of full-size pickups and SUVs, while a 94-percent surge in EV sales year-over-year put it in second place for electric vehicle market share in the United States. Vice president Rory Harvey said that “GM’s sales growth outpaced every other major automaker, and the driving force is our portfolio.”
Harvey added that “we’re the industry leader in trucks and affordable small SUVs, Cadillac is growing significantly in luxury, and we have the broadest portfolio of EVs in the industry.” GM says its retail sales are at their best Q1 level since 2018 and that both full-size trucks and full-size SUVs saw first quarter sales that haven’t been seen since 2007.
Declaring that its “disciplined incentive spending” led to 4 percent incentives as a percentage of average transaction price (ATP) versus 7 percent in the auto industry over, General Motors also said that its inventory levels are within its “target range.”
GM is also currently opening more fulfilment centers across the United States, with the vehicles there not counting toward the number in dealer inventory.
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