There are economic and geopolitical headwinds, as well as the negative impact of a possible strike (or strikes), that could kick in and cut demand, but the stronger outlook for inventory growth puts more upside potential to second-half sales. Furthermore, boding well for stronger sales in the remainder of 2023 is greater availability of more affordable vehicles – non-luxury small and midsize cars, CUVS and SUVs. After having declined every month for two straight years, the inventory mix of those vehicles has increased two straight months from the year-ago period - that also has shown up in improved market penetration for the group.
OM131131
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June’s U.S. Light-Vehicle Inventory Growth Points to Second-Half 2023 Market Strength
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The Analyst Team
Haig Stoddard
Follow AnalystPrincipal Analyst, Forecast & Markets
Haig has followed the auto industry for over three decades, starting as a reporter and editor for Wards Automotive Reports, then transitioning to an automotive market analyst. He analyzes market trends related to new-vehicle demand, production, and powertrain take-rates, and forecasts vehicle connectivity and automation levels
Haig focuses on tying together demand, vehicle production, and powertrain trends. He also has created and co-created several of the company’s current analytical outputs related to forecasts, plant capacities, product cycle plans, market segmentation, and future vehicle propulsion reports. Currently, he supports the Wards Intelligence database and produces regularly scheduled and custom subscription-based posts tied to North American production, sales analysis, forecasts, and general global market analysis. He also is working on projects to help expand the company’s coverage of future trends by creating vehicle-based forecasts related to factory-installed equipment, such as ADAS and mobility.
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