U.S. Auto Inventories Shrank 5% in May

Stockpiles of unsold light vehicles fell to a 52-day supply on June 1 from 55 days a month earlier, Automotive News reports.

Truck stockpiles contracted to a 61-day supply from 67 days on May 1, the newspaper calculates. It estimates that car inventories shrank to 43-day supply the lowest level since last September from 45 days the month before.

AN attributes the relatively lean car stockpiles to growing demand for more fuel-efficient vehicles. June supplies of the Ford Focus compact and Honda Fit subcompact were at 32 days and 34 days, respectively. No manufacturer had a car stockpile of more than 60 days, which is considered the ideal level.

Among major automakers, inventories of all light vehicles on June 1 were tightest at BMW (25 days) and Hyundai-Kia (27 days) and most plentiful at General Motors (74 days).