U.S. Vehicle Inventories at 27-Year High

Stocks of unsold new cars entered August with an estimated 71-day supply in the U.S., the highest for that date in 27 years, according to Automotive News. The industry considers a normal supply as about 65 days.

The actual number of vehicles in inventory fell to a 12-month low of 3.8 million units. But because the daily selling rate slowed, the calculated days’ supply rose.

AN’s figures are estimated, because General Motors, Ford and Fiat Chrysler Automobiles all have switched from monthly to quarterly sales reporting.

Stockpiles on Aug. 1 consisted of 2.86 million light trucks (a 73-day supply) and 938,800 cars (64-day supply). The latter figure marked the first time in nearly eight years that car stocks began the month below 1 million units, according to the newspaper.