In this market analysis driven by CarEdge Data, we’ll take you on a tour through the market day supply of new cars across all 50 states and break down the inventory for the five major automakers. Armed with data, you’ll be in the best position to negotiate a great deal on your next vehicle.
Looking for the best and worst states to buy a car? We’ll answer these questions and more with the latest data. You’ll also want to check out the states with the highest fees and taxes.
Love Data? We Do Too
At CarEdge, we leverage cutting-edge tools to dig deep into the auto industry. One crucial metric we focus on is ‘market day supply, also known as ‘MDS’. Essentially, it provides an estimate of how many days it would take to sell off the current inventory of vehicles at the present rate of sales, assuming that no new vehicles are added to the inventory.
In a balanced market, a 60-day supply of new cars is considered the standard, providing a decent equilibrium between supply and demand.
Anything substantially above this indicates an oversupply, while anything below 40 days suggests a shortage. This information serves as a starting point to identify potential negotiation leverage for smart car buyers like you.
Let’s dive in and take a look at automotive trends across the United States. We’re looking at overall new car supply in all 50 states, and supply numbers for the top-selling brands in the U.S.: Ford, Toyota, Chevrolet, Honda, and Hyundai.
Use the sort feature by clicking on the arrows at the top of each column.
|State||New Car Inventory (Day Supply - All Makes)||Ford Days Supply||Toyota Days Supply||Chevrolet Days Supply||Honda Days Supply||Hyundai Days Supply|
There’s a lot to digest in the above table, so we’re going to focus in on the states with the highest and lowest new car inventory overall, and for each of the five best-selling car brands in America.
States with the Highest New Car Inventory
If you’re looking for more room to negotiate, consider buying a car in states with high inventory levels. Not sure where to start? Here’s our guide to buying a car in another state.
Vermont leads with an impressive 116-day supply, followed by Wyoming at 95 days, South Dakota at 94 days, and Alaska at 92 days. Other states rounding off the top ten in this category include Oregon, Hawaii, North Dakota, Rhode Island, Iowa, and Nebraska—all well above the 60-day norm.
States with the Lowest New Car Inventory
On the flip side, states like South Carolina, North Carolina, Georgia, Kentucky, New Jersey, Alabama, New York, Virginia, Arkansas, and Colorado have the lowest new car inventories, all hovering around the 60-70 day supply mark.
Negotiating a new car is certainly not impossible in these states, as our team of Coaches has helped hundreds of buyers in these states this year alone. But with the tightest inventory, it’s simply smart buying to be aware of the overall market from day one.
Why Are All “Low Inventory” States Above 60 Days?
You might be asking, if a balanced market hovers at a 60-day supply, why are the states with the lowest inventory still above this mark? Well, these numbers are an average across all brands—from the glut of Ram trucks to the scarcity of Hondas and Subarus. For specifics on make and model for any zip code or region, CarEdge Data has you covered.
Next, we’ll dive deeper and take a closer look at the five best-selling automotive brands in America. There are some BIG differences between the top players when it comes to inventory on dealer lots.
Ford Inventory Soars
Ford inventory is among the highest in the auto market right now, with the brand having a 97-day supply of new cars nationwide. In some states, Ford’s inventory exceeds 120-day supply.
If you’re eyeing a Ford, states like Alabama, Vermont, Illinois, Louisiana, and Connecticut offer the most room for negotiation due to 100+ day supplies of new cars.
Conversely, Wyoming, Montana, Kentucky, New Mexico, and Georgia are your least favorable states in terms of Ford inventory.
Notably, Ford’s electric Mustang Mach-E, traditional Mustang, and Explorer have the most supply, while the Maverick and Ranger are relatively sparse and tougher (but not impossible) to negotiate.
Toyota’s Inventory Situation
Toyota’s nationwide average stands at a tight 42-day supply. Vermont, Wyoming, Nebraska, Oregon, and South Dakota have the highest inventory for Toyota. In contrast, states like Arkansas, Alaska, Hawaii, Utah, and Oklahoma have the least Toyota inventory.
The Sequoia, Corolla, and Sienna are currently in high demand, all with less than 40-day supplies. The electric bZ4X, 4Runner, and Crown have the highest inventory numbers, and as a result, the highest negotiability from the get-go.
Chevrolet Flirts with Average
Chevrolet averages a balanced 61-day inventory nationwide. For Chevy, Hawaii, Wyoming, Alaska, South Dakota, and Oregon are your go-to states for choice and negotiability, while Utah, Missouri, Colorado, Michigan, and North Carolina are less ideal with tighter supply.
The Silverado and Equinox are most abundant on dealer lots. The Corvette, Trax, and Colorado have the least inventory.
Honda STILL Has Lean Inventory
Honda’s supply averages a mere 32 days nationally, owing to lingering effects of the supply chain shortages that every automaker previously dealt with. States like Vermont, Hawaii, Wyoming, Oregon, and California have the highest Honda inventory, but nowhere even comes close to Vermont.
There are just five Honda dealerships in Vermont, but between them there are 1,014 new Hondas for sale. Day’s supply sits around 180 days, which is highly unusual for Honda. Perhaps Honda buyers in New England should consider heading to The Green Mountain State for the greatest negotiability.
Arkansas, Idaho, New Mexico, Indiana, and Oklahoma offer the least room for negotiation with the lowest Honda inventory. When it comes to model inventory, the HR-V and Passport have the greatest supply nationwide, while the CR-V and Pilot are much harder to come by.
Hyundai’s Middle Ground
Hyundai has been steadily climbing the ranks in the battle for automotive market share. As Summer 2023 winds down, Hyundai’s inventory numbers are looking healthy, and notably better than competitors Honda and Toyota. There’s currently a 62-day supply of new Hyundai’s nationwide, with quite a bit of variability from one state to the next.
Hyundai inventory is most abundant in Oregon, Wyoming, Vermont, South Dakota, and Alaska. In contrast, Kansas, South Carolina, Florida, New York, and New Jersey have less stock.
The IONIQ 6 and IONIQ 5 are abundant, while the Venue and Elantra are in short supply. Hyundai and sibling Kia have really struggled to sell EVs ever since the revamped federal tax credit removed eligibility due to the ‘Made in America’ requirement.
Harness the Power of Data to Negotiate Like a Pro
Ready to utilize data for unparalleled negotiating leverage? We’ve got tools to suit your needs and budget. From free resources to expert car buying help, we’ve got it all. Enjoy these reader-favorite free car buying tools:
- Car Buying Cheat Sheet
- Auto Finance Cheat Sheet
- The Best Auto Loan Rates This Month
- Out-the-Door Price Calculator
- What Is My Car Worth? Find Out!
Ready to negotiate a sweet deal? Collaborate with a Car Buying Coach for insider-only insights or opt for a one-time consultation through CarEdge Consult. For the DIY aficionados out there, CarEdge Data provides the robust market intelligence you need to navigate your car buying journey.
Regardless of your budget, we have a plan to help you save thousands. Embark on your informed car buying adventure today with peace of mind! With CarEdge, you’ll know you got the BEST deal.