J.D. Power said vehicle inventory in early August declined slightly to a 54-day supply, compared with 58 days in July. Car inventory was at 47 days, while truck inventory is at a normal 61-day supply.
Drury said an exception is the Chevrolet Malibu, which has a 96-day supply. "GM (GM) overproduced the 2012s and didn't sell down effectively," he said. "Now there are so many discounts" that sales of the 2013 Malibu are being impacted.
By contrast, the competing Ford (F) Fusion has a 43-day supply, as the 2012 model sells down in anticipation of the fall arrival of the 2013 model.
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