New-car buyers face a paradox: plenty of inventory, but not necessarily better deals.
Jeep dealers are sitting on the highest stock levels in the industry, yet discounts remain modest.
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According to Cox Automotive's latest Auto Live Market View report, dealers ended June with 2.82 million new vehicles in stock, down 2.4% from May but largely unchanged year-over-year.
The average listing price rose to $49,336, up 1.4% from a year ago.
While the $50,000 average new-car price grabs headlines, the real story lies in inventory distribution.
Nearly one-quarter of all new vehicles—over 688,000 units—were priced between $30,000 and $40,000 in June.
Their average listing price was $35,377, with a 70-day supply, well below the industry average.
This bracket accounted for 28% of June sales, moving faster than it was stocked.
Expanding the range, roughly 34% of all new vehicles on dealer lots were priced below $40,000.
This suggests the oft-cited $50,000 average doesn't reflect what many shoppers will actually find.
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Brand-by-Brand Inventory Divide
Inventory levels vary sharply by brand.
Toyota entered July with the tightest supply at 37 days, followed by Lexus at 41 and Honda at 48.
Subaru (67), Cadillac (69), Kia (74), and Chevrolet (76) also sat under the 80-day national average.
Stellantis brands occupy the opposite end. Jeep leads with a staggering 160 days' supply, more than double the industry figure.
Ram and Dodge also carry over twice the average.
Yet Jeep's incentives were only 6.7% of average transaction price in June, below the 7% industry average.
The brand with the most unsold metal is discounting less than rivals with far smaller stockpiles.
Despite affordability concerns and geopolitical uncertainty, the broader new-car market has remained steady.
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Inventories are balanced, sales healthy, and while transaction prices flirt with $50,000, a real supply of vehicles in the mid-$30,000 range remains available.
