GM Back To Its Channel Stuffing Ways

The Nikkei [sub] comes with the good news that "Japan's automakers have finally resolved the inventory shortages that have hindered their sales in the U.S. market." According to the Tokyo wire, Japan's automakers "are in a better position to compete with their Western and Korean rivals," now that lots are stocked again. Well, not quite. Japanese inventories are still fashionably slim compared to some Detroit chubbos. Pop some Tums and have a look. According to data compiled by Automotive News, Honda has a 54 day supply. Around two months are considered normal for the industry.  Toyota however has only a 32 day supply, smaller Subaru has 30. Let's take this opportunity to look at all lots. Days of supply Units Days Apr 2012 Days Mar 2012 Detroit 3: 1,534,900 70 72 European 231,300 53 42 Japanese 827,400 43 46 Korean 122,200 27 34 The Detroit 3 definitely have no shortage of cars with an average of 70 days' supply on the lots. The Europeans are at the current industry average with 53 days of supply. The Japanese have 43 days' worth  on the lots, but "the Koreans" have only 27 days. Units Days 1 Apr 2012 Days 1 Mar 2012 HYUNDAI-KIA 122,200 27 34 SUBARU 35,000 30 33 BMW 32,300 30 33 TOYOTA 230,400 32 36 PORSCHE 3,600 41 41 NISSAN 226,400 47 54 JAGUAR LAND ROVER 9,200 47 48 DAIMLER AG 44,500 51 45 HONDA 244,000 54 50 MAZDA 62,300 54 59 Industry 54 57 FORD 477,300 60 68 CHRYSLER GROUP 354,900 61 66 VOLVO 15,000 63 66 VW GROUP 116,200 67 42 SUZUKI 6,800 72 68 GENERAL MOTORS 713,200 86 80 MITSUBISHI 22,500 88 125 TOTAL 2,715,800 54 57 Indeed, Hyundai-Kia's supply is the lowest of them all with only 27 days until empty. As indicated by the Detroit 3 number, American makers are generously stocked, but averages can be deceiving. Ford and Chrysler carry a regulation two month supply on the books. The absolutely worst of Detroit is GM with a nearly three month supply. Only consolation: Deadman walking Mitsubishi carries two days more. While days to sell are down industry-wide, inventory is increasing on GM lots: From March to April, it took a week longer to move an already sluggish inventory. GM's lot queens: Escalade EXT (144 days), Yukon (136 days), Yukon XL (133 days), Sierra (132 days), CTS (124 days), all Cadillac cars (123 days), all Buicks (121 days). Have a look at this chart: No wonder that GM is losing market share. The cars are all sitting on the lot.     from The Truth About Cars http://www.thetruthaboutcars.com

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