Regardless of a slight general improve in complete automobile stock
within the US in October 2024, electrical automobile (EV) stock has
continued to say no, signaling potential challenges in EV demand
and manufacturing.
Listed below are the highest 4 takeaways from our month-to-month US stock
overview:
1. Stock hits post-pandemic excessive for second month in a
row.
On the finish of October 2024, accessible retail marketed
stock within the US was 3.06 million autos, a slight 0.2%
improve over September. This marks the second consecutive month of
new automobile stock being over three million items, which is a
excessive for the reason that pandemic.
Marketed Stock Depend, June 2022 – October 2024
2. Conversely, electrical automobile stock continues to
fall
Regardless of the general progress in stock through the previous a number of
months, electrical automobile stock continued to fall, reducing
2.6% in comparison with September. The current lower is a reversal of
the pattern from the previous couple of years—the place EVs stock
grew at a price exceeding that of ICE autos—and is maybe a
signal of lower-than-expected demand resulting in lowered EV
manufacturing.
Electrical Car Retail Marketed Stock, June 2022 –
October 2024
Amongst EV fashions, Ford Mustang Mach-E stock elevated 8.3%
from September, however it’s down 25.6% vs. October 2023. The Honda
Prologue demonstrated the very best month-over-month progress in
October, ending the month up 17.0% from September and at barely
greater than 15,000 autos. Many of the different prime EV fashions have
continued to point out decrease reducing stock since this previous
spring.
Electrical Car Marketed Stock by Mannequin, June 2022 –
October 2024
3. 2025 mannequin years are gaining momentum at the same time as 2024 stock
stays excessive
2025 mannequin yr autos proceed their rollout, up 27.3% vs.
final month and now near the identical degree as 2024 mannequin yr
stock. 2023 mannequin yr has only a few autos remaining now.
Marketed Stock by Mannequin 12 months, June 2022 – October
2024
Of 2024 mannequin yr autos, Ford has probably the most by far and is the
solely one of many prime manufacturers that has elevated its 2024 stock in
the final three months.
2024 Mannequin 12 months Stock by Model
4. Common days on vendor tons has elevated for all prime
manufacturers
The common days on vendor tons elevated barely to 81 days at
the tip of October, persevering with the regular will increase seen over the
previous yr.
Common Days on Supplier Heaps
Whereas all the prime manufacturers have proven will increase within the common
size of their stock in October, Ram and Jeep manufacturers have
proven the best will increase over the previous a number of months and now
are each over 150 days.
Common Days on Supplier Heaps, by Model
Toyota, at 32 days, and Honda, at 46 days present the bottom
common age of marketed stock, partially as a result of quantity of
pipeline that sellers present of their listings.
