Economists believe the current inventory level is unsustainable and expect the build-up in unsold stocks to eventually reverse.
The value of automotive stocks rose 2.2 percent in the first month of the year, while machinery stocks were up 1.3 percent.
Sales at wholesalers fell 1.9 percent in January, their biggest drop since March 2009, compared to a revised 0.1 percent increase the prior month. Economists had forecast sales to edge up 0.2 percent.
Sales of non-durable equipment such as petroleum and paper products dropped 3.2 percent, the sharpest fall since December 2008.
At January's sales pace it would take 1.2 months to clear shelves, compared to December's pace of 1.18 months.