Dealership inventories ease as industry sales remain robust
China's dealership inventories in September dropped to a 34-day supply of passenger vehicles from 36 days in the previous month as industry sales remained robust.
Stockpiles of foreign-brand vehicles produced in China declined to 32 days from 34 days in August, according to the China Automobile Dealers Association.
The backlog of unsold imported vehicles edged down to 35 days from 36 days in the previous month. Inventories of domestic Chinese brands stayed at 43 days.
No car brand carried more than two months' supply, the association said.
In September, China's light-vehicle sales surged 29 percent year on year to 2.27 million units as car buyers took advantage of soon-to-expire tax incentives for vehicles with small engines.
In 2015, the government halved its purchase tax on vehicles with engine displacements of 1.6 liters or smaller to 5 percent. The tax cut expires at year end.
The backlog of unsold imported vehicles edged down to 35 days from 36 days in the previous month. Inventories of domestic Chinese brands stayed at 43 days.
No car brand carried more than two months' supply, the association said.
In September, China's light-vehicle sales surged 29 percent year on year to 2.27 million units as car buyers took advantage of soon-to-expire tax incentives for vehicles with small engines.
In 2015, the government halved its purchase tax on vehicles with engine displacements of 1.6 liters or smaller to 5 percent. The tax cut expires at year end.
