Inventories grow as automakers overcome worst supply issues
and Honda vehicles represented nine of the 10 nameplates with the fewest number of days' supplies.
New-vehicle sales in June rose 20 percent from the previous June and posted the highest volume since May 2021, Cox reported. The seasonally adjusted annual rate of sales climbed to 15.7 million in June, up from May’s 15.1 million rate and 13.0 million in the year-ago June. Sales into fleet and increasing incentives supported the sales gain.remained stable at $47,571 at the end June, very slightly up from $47,487 at the start of the month.
“Sales of new vehicles closed the first half of 2023 surprisingly strong,” said Cox Automotive Senior Economist Charlie Chesbrough. “Pent-up demand from individuals and businesses that could not find their product or a price they were willing to pay last year was unleashed.” There was a 103-day supply of EVs as the month closed, with 90,963 units reported, and the average listing price at $63,486 (the data does not count
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