New vehicles are piling up on U.S. car dealer lots, creating concern just as sales are expected to sputter.
The inventory of unsold new cars on dealer lots rose 2.1 percent last month, setting an all-time February high, a top industry analyst said in a research note this week. That total of 4 million new vehicles in U.S. stock is a 21-month high, Morgan Stanley’s equity analyst Adam Jonas wrote. In dollar terms, it’s about $140 billion in inventory, Jonas wrote.
That and other economic concerns have analysts worried the second half of this year won’t be as good for carmakers as had been hoped.