U.S. Car Inventories at Lowest Level This Year

Dealer stocks of unsold new passenger vehicles in the U.S. have declined to 3.99 million units, their lowest level since the beginning of 2019, according to Automotive News.

In terms of sales rates, inventories dropped to 65 days in May from 78 days in April. A 60-day supply is considered normal.

AN attributes the improvement to strong sales during the Memorial Day holiday at the end of May.