New car inventories rising and prices falling, but not much yet

New car inventories are rising as supply begins to catch up with demand, which has been hampered by increasing interest rates affecting consumer buying power.

Two new reports indicate that recent high prices could soon begin to deflate.have reached their highest levels since June 2021, near the beginning of the ongoing semiconductor chip shortage. There were 1.

32 million vehicles in inventory in September, representing a 42-day supply, according to Automotive News.That figure was approximately 500,000 vehicles higher than September 2021's supply and up 90,000 from August.

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