GM Auto Inventory Hits 10 Year High: Most Since November 2007, One Month Before The Recession Started

GM inventories now at 9.5-year high. 935,758 units (100-day supply) is most since Nov. 2007, 1 month before the recession officially began.
— Nick Bunkley (@nickbunkley) May 2, 2017

When we summarized yesterday’s disappointing monthly car sales report, which badly missing expectations showing the fourth consecutive month of declining auto sales – the first time this has happened since July 2009 – we noted what may be the biggest concern for the auto industry: inventory days continued to trend higher as OEMs push product on to dealer lots even though sale-through to end customers has seemingly stalled.
We highlighted GM, one of the few OEMs to actually disclose dealer inventories in monthly sales releases, which reported that April inventories increased to 100 days (935,758 vehicles) from 98 days at the end of March and just 71 days (681,402 vehicles) in April 2016. Indicatlvely, analysts say an overall inventory level of 60 to 70 days is healthy. 100 is not.

This post was published at Zero Hedge on May 3, 2017.