U.S. Light-Vehicle Inventory Rises Again in November

Robust production added an additional 159,484 light vehicles to November’s U.S. inventory count, nudging days’ supply to a normal 61 from prior month’s 58, but it also left some brands with far too many units to sell.

European and Asian auto makers benefitted from the buildup, while the Detroit Three experienced some unwanted gains in LV stock.

Although still short of the 60-70 days’ ideal, Asian brands added more than 47,400 LVs to depleted dealer lots in November, boosting supply to 46 days from 44 in October.

With major Japanese auto makers able to avert much of the planned fourth-quarter production cuts enacted immediately following the Thailand floods, inventory of those models received a much-need boost.

Still subpar, Honda nevertheless hiked its combined Honda/Acura days’ supply to 41 in November from 37 days’ the prior month, while Toyota/Lexus stock rose to 49 from 48.

Subaru saw its stock rise to 85 days’ from 73, but that largely was to increasing availability of its redesigned ’12 Impreza sedan in preparation for a December sales launch.

Hyundai and Kia registered 28 days’ each, still the lowest supply in the industry, despite rising slightly from 26 the prior month.

Chrysler, Ford and General Motors posted a combined inventory of 79 days’ in November, up from prior-month’s 74, led by Chrysler’s rise to an outsized 78 from 68 in October.

That in part reflected a continued rise in inventory of unsold Fiat 500 models that has led to a production cutback. Chrysler also built up supply of its Dodge Caliber to keep the pipeline filled when the small car ends production late this month, to be replaced by an all-new Fiat-based model.

GM’s LV days’ supply again led that of most U.S. auto makers in part due to the effect of slowing sales of some models, plus inventory-building for several new cars just now appearing on dealer lots.

Ford’s increase to 72 days’ from 70 was the result of higher inventory of many of its LVs, the exceptions being the Ford Econoline van, Escape cross/utility vehicle, Explorer SUV, Fusion sedan and Transit Connect commercial van, along with the Lincoln MKS and Town Car.

Although up from the prior month, small cars and CUVs at 54 and 50, respectively, had the lowest days’ supply of all LV segments in November. In contrast, SUVs with 57 vs. 63, and large cars, at 83 vs. 84, were the only segments to show November declines.

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