Carmakers are fighting hard to meet strong demand for their vehicles in the US because of production shortfalls, meaning inventory is at its lowest point for ten years and average transaction prices are rising
Limited inventory because of production shortfalls combined with strong retail demand are driving up sales prices both for new and used vehicles in the US, according to the National Automobile Dealers Association (Nada).
The US currently has the lowest vehicle inventory on the ground since 2011, with an average of 25 days of supply in the month of May, compared to 61 days in the same month last year. There continues to be strong demand in the wake of the Covid lockdown, with the seasonally adjusted annual rate of sales at 18.8m in April, one of the highest rates over the last two decades.
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