Robust December sales and manufacturer production cutbacks curbed new-vehicle days’ supply at the end of last year, though overall inventory was healthy.

U.S. days’ supply fell by three days to 70 as total inventory rose from 2.6 million units to 2.7 million, Cox Automotive said.

The data provider said some big automakers cut back on output in December, including Ford scaling back F-150 Lightning electric truck production and Stellantis eliminating a shift at two Jeep plants.

Total inventory, though, was up 50% year-over-year, including units already at dealerships and those in transit.

Cox said Honda and Toyota had the lowest inventories at the end of the year among mass-market brands, while BMW and Lexus had the lowest among luxury automakers.

Meanwhile, the average new-vehicle listing price rose 4% month-over-month to a two-year high of $48,817, Cox said, a 2% year-over-year increase. Due to growing incentives, though, the average transaction price fell a record 2.4% to $48,759.

DIG DEEPER: New-Vehicle Prices Fall From Highs