New Vehicle Inventory in April Declines, Affordability Worsens: Cox Automotive Analysis

Affordability is at the ‘worst level yet this year’ amid higher prices and lower incentives, said Cox Automotive Chief Economist Jonathan Smoke.

Mercedes Benz car imports await shipping in the Port of Long Beach in Long Beach, Calif., on Jan 11, 2022. John Fredricks/The Epoch Times

Inventory of new vehicles decreased in April by 7.4 percent month over month and was down by 10.5 percent from 2024, according to automotive services company Cox Automotive.

Inventories are “not being replenished at the same rate of sales,” the company said in a May 15 statement.