Inventory Holds Steady
September new-vehicle inventory rose slightly month-over-month, but dealer lots are laden with MY2026 vehicles as the typical model year changeover trudges along.
2026 vehicles accounted for 2.1 million units of new-vehicle inventory in September.
Dealerships are facing a slower model-year changeover, according to Mobility Global, which said nearly two out of three new vehicles on lots are still model year 2026.
This time last year, current model-year vehicles made up 57% of the market, a significant difference from this year’s 74% rate.
According to Mobility Global, the slow changeover sets the stage for heavier incentives on 2025 and 2026 models in the fourth quarter as dealerships roll out more 2027 models.
For instance, it reported that several thousand 2025 Jeep Grand Cherokees, Jeep Wranglers, Ford Broncos and Ford Bronco Sports are still on the market.
Many electric-vehicle buyers gravitated toward used vehicles in September. Over 79,000 used units were listed for sale, up by about 15,000 from the end of the second quarter. Meanwhile, new EV inventory trended downward at less than 35% of the peak inventory volumes seen in mid-2025.
The popular hybrid segment held steady in both new and used markets.
The automotive intelligence company reported a widening price gap between the luxury and nonluxury markets. The average manufacturer's suggested retail price for a luxury vehicle reached $76,964, up about 19% since 2022, which it said outpaced the 13.5% U.S. Bureau of Labor Statistics Consumer Price Index inflation rate over the same time period.
Meanwhile, with an average MSRP of $50,947, nonluxury vehicle prices have increased nearly 10% since 2022, lower than the 13.5% CPI inflation rate.
Total new-vehicle inventory in September reached 2.9 million units, a slight increase from August but flat year-over-year. 2026 vehicles accounted for 2.1 million units.
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