- US car market inventories surged by 4.7% in September, hitting an all-time high in stock levels.
- Ram, Jeep, and Dodge successfully reduced their inventories, even as industry-wide stock levels continued to climb.
- Electric vehicle inventories dropped by 2.6% in September, reversing recent trends of rising stock levels.
Stellantis has made some headway in reducing its bloated inventory across the United States, even as industry-wide stock levels swelled last month. The auto giant has been dealing with burgeoning inventories across the country throughout much of 2024. At one stage, the Jeep and Ram brands had more than twice the industry average of inventory, and other Stellantis brands – including Alfa Romeo, Chrysler, and Dodge – were also well above average.
Read: New Vehicle Inventory Swells With Stellantis Drowning In Unsold Cars
However, newly published data from S&P Global Mobility has revealed that in September, several Stellantis brands had smaller inventories than in August. Inventories at Jeep dropped 4.1%, Ram inventory fell 1.4%, and Dodge inventory fell by a more considerable 9.1%. These falls came even though advertised vehicle inventory across the US soared to 3.056 million in September, the highest on record and a 4.7% rise from the previous month.
S&P Global Mobility says that inventory swelled across most OEMs and segments, although a handful of other brands also reported declining inventory apart from Stellantis. For example, Audi’s inventory dropped 7.8%, Cadillac was down 1.6%, and Lincoln’s inventories fell 0.8%.
Electric vehicle inventory fell 2.6% in September, reversing a trend seen in recent months where inventories of EVs were outpacing the rest of the industry. At the end of September, there were a reported 167,831 EVs in inventory across the US.
A key factor in rising inventories is the launch of 2025 model-year vehicles. In September, 45.6% more 2025MY vehicles were introduced compared to August and have been added to dealership lots. Inventories of 2024 models are down 10.1%, while there are also 19% fewer 2023 models available.
Other interesting figures compiled by S&P Global Mobility include the average MSRP rose 3.3% from March to $52,066 at the end of September, while the average dealer list price has increased 2% from March to $48,460. The average listed discount on new vehicles has also reached $3,606, a significant 21.2% rise from March.
