In May, 2022, the inventory coefficient of automobile dealers was 1.72 From China Automobile Circulation Association
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On June 10, 2022, the China Automobile Circulation Association released the survey results of “inventory of automobile dealers” in May 2022: the comprehensive inventory coefficient of automobile dealers in May was 1.72, a month on month decrease of 9.9% and a year-on-year increase of 13.9%. The inventory level was above the warning line. The economy of the automobile circulation industry was improved compared with April.
1、 In May, the inventory coefficient increased year-on-year and decreased month on month
In May, the impact of the epidemic was gradually weakened. The closure and control of the epidemic was lifted in some areas. The resumption of work and production of local car enterprises was accelerated. The implementation of purchase tax reduction, local government subsidies, car enterprise subsidies and other stimulus policies and measures were superimposed. The situation of the car market in May was improved compared with that in April. However, the vehicle market is still facing the dual pressure of blocked supply and weak demand.
At present, the inventory level of dealers is still high, which is mainly due to the sharp decrease in the number of customers entering the store under the epidemic prevention and control policy, and the consumers’ risk aversion mentality shelves the car purchase plan, resulting in a decline in sales and a backlog of inventory. In the sample of 85 cities in this survey, dealers in 28 cities closed their stores for more than one week due to the epidemic prevention and control policies. 70% of the dealers said that the drop in passenger flow was less than 50%, and 30% said that it was more than 50%. In May, more than 50% of the dealers’ sales tasks were completed at a rate of more than 70%, and 20% of the dealers were still unable to complete the sales tasks of the current month.
2、 Inventory coefficient of high-end luxury & imported, joint venture and independent brands decreased month on month
The inventory coefficient of high-end luxury & imported brands was 1.40, down 15.7% month on month; The inventory coefficient of joint venture brands was 1.81, down 9.0% month on month; The inventory coefficient of independent brands was 1.79, down 8.2% month on month.
In May, the inventory coefficient of automobile dealers was high, which was mainly affected by the epidemic in many places. Therefore, the high inventory brands will not be announced for the time being.
3、 Cautiously anticipate the market demand in June 2022 and reasonably control the inventory
On May 31, the national and local governments issued a package of policies to promote consumption, including the phased reduction of some passenger vehicle purchase tax by 60billion yuan, new energy vehicles to the countryside, relaxation of automobile purchase restrictions, car purchase subsidies and other stimulus policies. Car enterprises actively followed up and introduced relevant subsidies, including replacement, cash subsidies, financial gift packs, fuel subsidies, etc., which directly promoted car sales.
At present, dealers are still faced with problems such as insufficient inventory in hot selling garages, long transit time of new cars, and delayed delivery of backlog orders. Moreover, the dealers are about to start the sales sprint in the second quarter and the first half of the year. At present, some car companies have reduced or cancelled the assessment objectives of dealers’ tasks, and most dealers are still difficult to complete the tasks in the first half of the year. However, driven by a series of policies, the auto market will recover rapidly in June.
The China Automobile Circulation Association suggests that dealers should rationally estimate the actual market demand and reasonably control the inventory level according to the actual situation. At the same time, do not slacken the epidemic prevention and control, and continue to implement the epidemic prevention and control measures. More reading: China Automobile Circulation Association: the inventory coefficient of automobile dealers in April 2022 was 1.91 China Automobile Circulation Association: the inventory coefficient of automobile dealers in April 2022 was 1.91 China Automobile Circulation Association: the inventory coefficient of automobile dealers in August 2021 China Automobile Circulation Association: the report of China automobile hedging rate in April 2022 China Automobile Circulation Association: the inventory coefficient of automobile dealers in October 2019 was 1.39 China Automobile Circulation Association: November 2019 Monthly automobile dealer inventory coefficient is 1.49 China Automobile Circulation Association: October 2020 automobile dealer inventory coefficient is 1.57 China Automobile Circulation Association: March 2022 automobile dealer inventory coefficient is 1.75 China Automobile Circulation Association: November 2021 automobile dealer inventory coefficient is 1.35 China Automobile Circulation Association: October 2021 automobile dealer inventory coefficient is 1.29 China Automobile Circulation Association: June 2021 automobile dealer inventory coefficient is 1.4 8 China Automobile Circulation Association: the inventory coefficient of automobile dealers in March 2022 was 1.75 China Automobile Circulation Association: the inventory coefficient of automobile dealers in September 2021 was 1.24 China Automobile Circulation Association: the inventory coefficient of automobile dealers in March 2020 was 2.68 China Automobile Circulation Association: the inventory coefficient of automobile dealers in July 2021 was 1.45
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