U.S. light-vehicle inventory rose to a 9-year high for the month of January and is well above what the industry needs to meet current demand. How serious the glut is, as it pertains to possible cuts to production plans, depends on how much sales rebound from January’s weather-dampened results and whether fleet deliveries pick up. Inventory totaled 3.61 million units at the end of January, 13.7% above year-ago and the highest for the month since 3.89 million in 2005. At the time in ...

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