Car inventories remain stubbornly high
Stockpiles at dealers remained above normal in June despite efforts by automakers to trim inventories, according to the China Automobile Dealers Association.
At the end of June, dealerships that sell domestic brands averaged a 49-day inventory, compared with 61 days at the end of May.
Among domestic brands, Chery dealerships had the highest inventory: a 95-day supply. It was followed by BAIC with a 78-day supply.
Jaguar Land Rover had the highest dealer inventories among global brands, with a 92-day supply. New-vehicle sales growth has slowed in recent months amid a decline in overall economic activity across China.
Import dealerships had a 56-day supply of vehicles, significantly down from 80 days a month ago.
Dealership inventories of foreign brands that produce vehicles in China increased to a 44 days supply at the end of June, slightly up from 42 days a month earlier.
Normal dealership inventories range from 24 to 36 days.
Domestic and foreign dealerships have been cutting prices in an effort to trim inventories and meet their sales targets, CADA said.
Among domestic brands, Chery dealerships had the highest inventory: a 95-day supply. It was followed by BAIC with a 78-day supply.
Jaguar Land Rover had the highest dealer inventories among global brands, with a 92-day supply. New-vehicle sales growth has slowed in recent months amid a decline in overall economic activity across China.
Import dealerships had a 56-day supply of vehicles, significantly down from 80 days a month ago.
Dealership inventories of foreign brands that produce vehicles in China increased to a 44 days supply at the end of June, slightly up from 42 days a month earlier.
Normal dealership inventories range from 24 to 36 days.
Domestic and foreign dealerships have been cutting prices in an effort to trim inventories and meet their sales targets, CADA said.
