Prices down as inventory, incentives head in the other direction.
Subdued spring sales due to affordability issues pad inventory, except for the least expensive vehicles.
U.S. market is still weighted toward luxury models, though, and consumers are pinched because their incomes haven’t kept pace with the increases.
Early figures put volume up 1.4%, SAAR also up on higher inventory, incentives.
Used sales, buoyed by EV shoppers, cut into supply while harsh winter put a damper on new-vehicle business, padding inventory.
Inventory was up in December, but delayed pandemic effects on new-vehicle sales still to be felt.
Some carmakers pull back on production, further fatten incentives.
CDK Global says result dipped from 85% to 81% in November.
Supply hits 20-month high in November as SAAR falls from October, NADA says.
Two surveys find process is getting easier and more satisfying as inventories grow.
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