Cadillac dealer inventory was up slightly during January 2024 in the United States, according to the latest report from Cox Automotive.
Specifically, Cadillac inventory leveled out at 60 days’ supply. In other words, Cadillac dealerships had enough inventory on-hand to answer current sales volume for 60 days last month. For comparison, inventory levels were 52 days’ supply in December 2023. As a reminder, 60 days’ supply is considered normal and ideal industrywide, and Cox determines this metric by taking into account the daily sales rate for the most recent 30-day period that ended February 5th. A higher figure means that vehicles are being sold slowly, while a lower figure means that dealers are selling their vehicles quickly after they arrive from the factory.
The inventory levels during January 2024 place the luxury marque on the lower end of the spectrum. Cadillac tied with Land Rover at 60 days’ supply, while being higher than Lexus’s 54 days, and lower than 126 days’ supply posted by Genesis and 123 days’ posted by Infiniti.
Industrywide, new vehicle supply averaged 80 days, up 38 percent year-over-year. The last time industrywide supply exceeded 80 days was back in June 2020, when it was 83 days. As of early February 2024, nationwide unsold new vehicle inventory was 2.6 million units, representing an increase of 870,000 units when compared to January 2023. Even so, inventory was down from 2.66 million units recorded at the start of January 2024.
The average list price for a new vehicle was $47,142 last month, down one percent year-over-year. Cox noted that average list prices increased throughout December 2023, and that in early 2024, prices were still relatively high before tapering off during the second week of January. Since then, prices have decreased by nearly one percent a week.
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