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Penske Automotive Group Inc. had a 12-day provide of latest autos within the U.S. on the finish of June, up from 9 days on the finish of March and eight on the finish of December.
“Every little thing that is coming in goes again out,” CEO Roger Penske mentioned final week on an analyst name.
Penske presently has about 3,100 new autos in inventory, spokesman Anthony Pordon mentioned, calling stock ranges “pretty constant” over the previous six to 9 months. He mentioned Penske does not anticipate ranges to “change materially anytime quickly.”
Earlier than the coronavirus pandemic, the retailer carried greater than 14,000 new autos, Pordon mentioned.
“We have not actually seen a decline in preorders both,” Penske CFO Shelley Hulgrave informed Automotive Information. “Prospects proceed to battle for his or her area in line.”
Provide of latest autos was increased within the U.Okay. on the finish of June, at 32 days, the corporate mentioned.
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