New Car Inventories Rise in the U.S. Market: Stellantis Brands Lead the Way
As global supply issues ease and demand stabilizes, new car inventories are on the rise in the U.S. market. However, the impact is more pronounced for domestic automakers, as highlighted in a new report. Stellantis brands, in particular, claim 7 out of the 9 positions on the list of vehicles with the highest inventory. Conversely, Kia holds 5 out of the top 9 spots on the list of vehicles with the lowest inventories, showcasing a contrasting situation.
Stellantis Brands Dominate List of Vehicles with Highest Inventory
According to data published by Car Edge, the model with the highest inventory is the Jeep Renegade, with a supply that exceeds two years based on current demand rates. The sub-compact SUV that’s manufactured by Stellantis in Italy has remained relatively unchanged since its introduction in 2014, which may account for the substantial number of units still available at dealerships.
Jeep takes up a notable four spots in the top 9 list, with the Cherokee ranking 5th and the Compass in 7th place, each with approximately a year’s worth of supply. The Gladiator follows closely behind in 9th place with slightly less inventory. The Chevrolet Silverado 4500 holds the 2nd spot, while other vehicles on the list include the Lincoln Corsair in 3rd place, followed by two Stellantis pickups – the Ram 2500 in 4th place and the Ram 1500 in 8th place. Rounding out the oversupply list is the Chrysler Pacifica Hybrid in 6th place, representing the sole Stellantis minivan.
As one might expect, those in the market for these vehicles may find themselves in a favorable position to secure an exceptional deal.
Vehicles with Lowest Inventory: Kia and Lexus Top the List
The study also highlights the top 9 vehicles with the lowest inventory, predominantly featuring models from foreign automakers that were significantly impacted by supply chain challenges. Kia secures five positions on this list, underscoring the impressive sales momentum of the Korean company. Based on current demand levels, the Kia Seltos and the Lexus NX top the list with a mere 9-day supply.
Other vehicles on the list include the BMW X5 in 4th place, the soon-to-be-replaced Subaru Impreza in 5th place, the BMW 4-Series in 6th place, and the Mercedes-Benz GLE in 9th place. These figures demonstrate the high demand and limited availability of these particular models.
Conclusion
As new car inventories rise in the U.S. market, Stellantis brands lead the way with an oversupply of certain models. On the other hand, foreign automakers such as Kia and Lexus face supply chain challenges resulting in limited availability of some of their most popular models. Those in the market for these vehicles may find themselves in a favorable position to secure a good deal or may need to wait for supply to catch up with demand.