The industry considers 60 days about ideal between tight and sufficient.įuel efficient vehicles essentially out of stock.

Plenty of supply at Dodge and Ram dealers: Including in stock and in transit, Dodge dealers ended June with 90 days’ supply, and Ram dealers with 81 days’ supply. And in 20, the ATP just jumped from December to June without regard to seasonality. But in June 2020, the ATP in June was level with December for the first time. Before the pandemic, there was an established seasonality, where the ATP hit a high in December but dropped from there to June every year.

The chart shows ATPs for December and June of each year. Including finance and insurance sales (F&I), dealers made on average $5,123 in gross profit per vehicle, up by $1,174 from the already high levels of June 2021, according to J.D. Compared to June 2019, this was up by 36% or by over $10,000.Īt these prices, dealers made record gross profits per vehicle delivered. The average transaction price – the price at which vehicles were sold and delivered – jumped by 14% year-over-year, to a record $45,844 in June, according to J.D. This still speaks of a hot under-supplied market: By June, they hit a new record, up by 11.5% year-over-year. The average listing price in June rose 11.5% from a year ago, to a record $45,976, according to Cox Automotive.Ĭox also said that during the last week of June, asking prices “began to retreat slightly.” So maybe possibly perhaps, dealers are running into just a tad of price resistance in certain corners of the market.Īsking prices fell in January, February, and March, only to do a U-Turn in April – and part of this was seasonal as January and February are the worst months for dealers, when volume tends to plunge from the December binge. The average asking price (listing price) shows that dealers are in no mood to offer deals yet. A dealer’s website typically shows three labels next to the vehicles in their inventory: “in stock,” “in transit,” and “sold.” The relentless new-vehicle price spike. The term “inventory” accounts for what is “in stock” and what is “in transit.” And it may include units that have been pre-sold. By comparison, in 2019, new vehicle inventory averaged 3.66 million vehicles. On this basis, new vehicle inventories haven’t improved since December. The number of new vehicles in “in stock” on dealer lots and “in transit” to dealers dipped to 1.12 million vehicles at the end of June, down by 70%, or by 2.61 million vehicles, from the same period in 2019, according to estimates by Cox Automotive, based on its Dealertrack data. The inventory shortages at new vehicle dealers continue unabated, and inventories remain desperately low, but the shortages are shifting, as demand has shifted, and there is now supply piling up, for example at Ram dealers, while fuel-efficient vehicles are essentially sold out, and EV models have long waiting lists – as people are tired of getting hammered by high fuel prices.

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