24 April 2026
March 2026 new vehicle inventory: EV inventory hits three-year low
By Kent Chiu and Steve Giordano
Article Summary
In March 2026, new vehicle inventory declined to 2.87 million units, tightening supply and boosting dealer pricing leverage.
New vehicle inventory supply tightens as pricing firms
US new vehicle inventory reached 2.87 million units in March 2026, according to S&P Global Mobility Retail Advertised Inventory data. This number is down slightly from February but up 1.0% versus last year.
Days' supply fell to 79 days, down 16 days from last month. The average vehicle age decreased from 74 days to 72 days, both indicators that vehicles are moving off dealer lots faster.
While 53% of vehicles remain listed below MSRP, the average discount fell from $3,500 to $3,438 as list prices climbed 1.7% to $48,149. Overall, these data demonstrate that the market is getting leaner and dealers are regaining some pricing leverage.
EV inventory hits three-year low
Electric vehicles saw a dramatic supply contraction. EV new vehicle inventory dropped to 87,818 units, down 11% month-over-month and 45% year-over-year, reaching its lowest level in the past three years. Days' supply of EVs shrunk to 76 days, down 44 days in a single month.
Electric vehicle inventory count March 2026
Nearly every major EV model declined, with some of the largest declines coming from:
- Chevrolet Equinox: -33%
- Hyundai Ioniq 5: -41%
- Toyota bZ: -35%
One exception though was the Chevrolet Bolt, which saw its EV inventory rise 45%.
This tightening supply could shift the EV narrative from "excess inventory and heavy incentives" to selective availability by nameplate, potentially giving certain models new pricing power.
Hybrid continues strong momentum
Hybrid new vehicle inventory grew 2.9% to 365,302 units (+19% YoY) while days' supply fell to 62 days, a clear sign of sustained demand.
Toyota's replenishment is particularly noteworthy: Camry hybrid inventory nearly doubled since December (up 22,684 to 44,774 units), while RAV4 hybrid more than tripled (up 8,129 to 23,621 units). Subaru also grew their hybrid volume, with Crosstrek and Forester hybrid inventory both increasing 30% month over month.
Total hybrid vehicle inventory March 2026
With EV inventory contracting and hybrid supply tightening amid strong growth, the data suggests that hybrids have become the preferred electrified choice for buyers who want to avoid EV pricing while still benefitting from reduced fuel consumption as gasoline prices have risen over the past couple months.
It is important to note that several months of sustained fuel price increases are typically required before these trends are fully reflected in sales and inventory data. Combined with tightening supply and uncertain market conditions, the industry could face considerable challenges ahead, as inventory and production cycles have long lead times and cannot pivot quickly to sudden shifts in consumer demand.
This lag means automakers and dealers must carefully anticipate changes and plan strategically to navigate potential disruptions.
S&P Global Mobility provides clients with the most accurate and comprehensive industry data and analysis. Our experts have unparalleled expertise in mobility trends and market performance, supporting nearly every major automaker, 90% of the top 100 Tier 1 suppliers, financial investors, as well as other industry stakeholders. Contact us today to learn more about our US and North America automotive intelligence.
2025 model-year inventory offers value opportunity
Remaining 2025 model-year inventory stands at 207,727 units, representing 7% of total advertised new vehicle inventory. These models are heavily concentrated (9 of the top 10) among domestic brands.
Ford alone accounts for approximately 80,000 units, and the Ford F-Series, Bronco, Bronco Sport, and Jeep Grand Cherokee represent roughly one-third of all remaining 2025 inventory.
The affordability angle of these models is compelling: average discounts on 2025 models stand at $4,954, nearly $1,500 more than the overall market average. For payment-sensitive shoppers, this prior-model-year pool represents a clear value lane, especially as current-year pricing firms up.
Conclusion
March 2026 new vehicle inventory data reveals a market in flux: overall supply is tightening, EV availability is tightening just as fuel prices are increasing, hybrids are surging, and a concentrated pool of prior-year inventory offers meaningful discounts.
How these dynamics evolve, particularly EV supply constraints and hybrid demand sustainability, will shape the market through spring and summer.
With S&P Global Mobility's vehicle inventory data, automakers can identify market opportunities and risks, optimize incentive spending, refine production strategies, and stay ahead of the competition in a rapidly changing landscape.
We provide inventory data at the national, state, DMA and dealer levels, covering more than 19,000 dealer sites. Learn more and download a data sample.
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.