China's vehicle inventories shrink due to strong January sales
Vehicle inventories of dealerships across China dropped sharply to a 36-day supply in January from 46 days in December, according to the China Automobile Dealers Association.
Stockpiles of vehicles produced in China -- including Chinese and foreign brands -- declined substantially as dealerships enjoyed strong sales before the Feb. 18-24 Lunar New Year holiday.
In January, China's light-vehicle sales rose 10 percent year on year to 2.0 million vehicles, led by demand for SUVs and multipurpose vehicles.
Last month, Chinese brands averaged a 36-day supply of vehicles, down from 54 days in December. Stockpiles of foreign vehicles produced in China decreased to 31 days from 41 days in the previous month.
But stockpiles of imported vehicles remained high at 60 days, nearly unchanged from 61 days in December. In China, dealership inventories normally range from 24 to 36 days.
In January, China's light-vehicle sales rose 10 percent year on year to 2.0 million vehicles, led by demand for SUVs and multipurpose vehicles.
Last month, Chinese brands averaged a 36-day supply of vehicles, down from 54 days in December. Stockpiles of foreign vehicles produced in China decreased to 31 days from 41 days in the previous month.
But stockpiles of imported vehicles remained high at 60 days, nearly unchanged from 61 days in December. In China, dealership inventories normally range from 24 to 36 days.
