The new vehicle inventory on dealer lots reached 3.14 million units in October, marking a 3% increase for two consecutive months, according to ZeroSum’s November “State of the Dealer” report.
This inventory growth has driven a decline in average new vehicle prices by over $300 and increased market adjustments below MSRP for the eighth straight month. Certified used vehicle prices also dropped, falling from $39,351 in August to $38,166 in Octo
While inventory remains slightly below pre-pandemic levels, the recent growth suggests potential for an oversupply in the near future. ZeroSum anticipates a slight drop in used vehicle sales volume in November, with used and certified used units expected to fall by 1.21 million and 161,000, respectively.
