Dealerships burdened with nearly two months' supply in Oct.
The average new-vehicle stockpile at dealerships in China topped 56 days last month, a slight increase from 55 days in September, as new car and light-truck sales kept declining across the industry.
In October, dealerships with domestic Chinese brands carried a backlog of 70 days, up from 68 days in the previous month, according to the China Automobile Dealers Association.
Inventories at stores marketing domestically produced, foreign mass-market brand models edged up to a 54 days, from 53 days in a month earlier.
Dealerships selling luxury and imported vehicles saw their stockpiles increase to a 47-day supply from 43 days in September.
China’s light-vehicle sales declined for the fourth straight month, slumping 13 percent year on year to below 2.05 million, in October as consumers cut spending amid a slowing domestic economy.
With year-end promotions around the corner, automakers are likely to dump more inventories on dealerships in November and December to achieve annual wholesale targets, the China Automobile Dealers Association warned.
In October, dealerships with domestic Chinese brands carried a backlog of 70 days, up from 68 days in the previous month, according to the China Automobile Dealers Association.
Inventories at stores marketing domestically produced, foreign mass-market brand models edged up to a 54 days, from 53 days in a month earlier.
Dealerships selling luxury and imported vehicles saw their stockpiles increase to a 47-day supply from 43 days in September.
China’s light-vehicle sales declined for the fourth straight month, slumping 13 percent year on year to below 2.05 million, in October as consumers cut spending amid a slowing domestic economy.
With year-end promotions around the corner, automakers are likely to dump more inventories on dealerships in November and December to achieve annual wholesale targets, the China Automobile Dealers Association warned.
