You’ve likely heard various reasons why car dealers are light on inventory. Yet Cox Automotive (parent of Autotrader) found that some popular new vehicles might still be easy enough to find.
For instance, if you’re after a Toyota Highlander but can’t find one, perhaps look to the Ford Explorer or Honda Pilot, two SUVs with fewer inventory concerns. Similarly, Subaru Forester shoppers dissatisfied with light dealer stock should be able to locate plenty of Jeep Cherokees.
The Jeep Grand Cherokee, Honda Civic sedan, and Hyundai Elantra are also relatively common on dealer lots. Admittedly, a new Grand Cherokee is on the way, and consumers have shifted their interest toward SUVs rather than sedans such as the Civic and Elantra.
Automakers are facing a whirlwind of supply issues largely stemming from the global semiconductor shortage. Pent-up demand caused by coronavirus restrictions and economic concerns last year has made consumers more eager to get behind the wheel of a new car, too.
“The industry is in uncharted territory by trying to maintain robust sales with this low level of inventory,” said Charlie Chesbrough, Cox Automotive senior economist. “Supply was down significantly [in April].”
Automakers use the term “days supply” to measure how many days their dealers could stock cars before theoretically running out. Currently, the nationwide average is around 45 days per vehicle, but some popular vehicles — particularly trucks and Toyota or Subaru SUVs — are in short supply.
Cox Automotive found that Toyota dealers would run out of Tacomas after about two weeks if the automaker stopped shipping new trucks to dealers, and the RAV4, Highlander, Ford F-250, and GMC Sierra 1500 aren’t far behind. Find a new car for sale