Steel Markets
February 20, 2014
Automotive Inventory Highest in 9 Years
Written by Sandy Williams
It’s hard to sell cars when they are covered by snow and customers are being warned to stay safe and snug at home. As a result, auto dealers watched sales freeze and inventory pile up in January.
Total auto inventory increased to 3.61 million units at the end of January, the highest it’s been in nine years. The days’ supply jumped to 89 on Jan. 31 from 64 in December—well above the five-year average supply of 65 days.
