Dealership vehicle inventories rise as sales soften
Dealership vehicle inventories in China rose to a 44-day supply in May, up from 41 days in April, reflecting weak car and light truck sales, according to J.D. Power and Associates.
Domestic Chinese brands had the highest average dealership stockpiles -- a 56-day supply. Korean brands had the second-highest inventories, at 54 days. American brands had the lowest backlog, with a 35-day supply.
J.D. Power didn't release data inventories for European automakers.
As China's economy has cooled, automakers have been forced to extend bigger discounts in a bid to reduce dealership stockpiles.
Shoppers of large luxury vehicles were offered the steepest discounts in May, which averaged 18 percent. According to J.D. Power, buyers of compact SUVs received the lowest discounts, which averaged 4 percent.
J.D. Power didn't release data inventories for European automakers.
As China's economy has cooled, automakers have been forced to extend bigger discounts in a bid to reduce dealership stockpiles.
Shoppers of large luxury vehicles were offered the steepest discounts in May, which averaged 18 percent. According to J.D. Power, buyers of compact SUVs received the lowest discounts, which averaged 4 percent.
