China News Service, Beijing, October 14 (Reporter Yan Xiaohong) The China Automobile Dealers Association released the results of the September 2020 "Auto Dealer Inventory" survey on the 14th: The comprehensive inventory coefficient of auto dealers in September was 1.56, an increase of 4% from the same period , The inventory level is above the warning line.
According to the China Automobile Dealers Association, September is the traditional peak season for consumption. The holding of the National “Consumption Promotion Month”, the auto show and the double festival effect have further stimulated the increase in sales.
At the same time, some areas in the north have entered the busy farming season, and the number of rural consumers visiting stores has declined.
The automobile market has exceeded expectations for two consecutive months, and the subsequent demand for overdraft has been increased. Some manufacturers have introduced interest-free financial policies to help dealers and also encouraged some consumers to buy cars in advance.
At the same time, dealers entered the autumn replenishment cycle, and inventory pressure increased.
In September, the inventory coefficient of high-end luxury and imported brand cars and self-owned brand cars increased month-on-month, while the inventory coefficient of joint venture brands decreased.
The inventory coefficient of high-end luxury and imported brands was 1.30, an increase of 8.3% month-on-month; the inventory coefficient of joint venture brands was 1.55, a decrease of 1.3% month-on-month; the inventory coefficient of self-owned brands was 1.71, an increase of 1.8% month-on-month.
According to analysis, the market performance was relatively strong in the first half of October due to the auto show and Golden Week, and it will stabilize in the second half of the month. Coupled with repeated epidemics in some regions, local markets will be affected.
Inventory pressure increased in October, and sales are expected to be about 1.75 million units, which is equivalent to sales in the same period last year and a slight decline from the previous month.