It was right about March I recall talk of “We need more trucks!” Looks like the factories ramped up. From September Data, it looks like heavy Dodge ramp-up, as well as GM where DSO for October light trucks topped 100 days.
I’m not necessarily talking about current Q3 impact, but will listen this week … more interested for current and future pattern of behavior. For September, absolute incentive spending dropped for most automakers, however, we can’t see the relationship to average selling price, which less truck sales suggest may be flat to down. According to the Edmund’s data, days to turn trucks has spiked. GM’s latest 8K shows light truck inventory at 104 days, optimal is somewhere around 80-85
Watch GM and Dodge truck incentive costs going forward, i.e. greater total cost of incentives as a % of ATP.
FYI, trucks have risen as gas and diesel prices have as well.