In March 2022, the inventory coefficient of automobile dealers was 1.75 From China Automobile Circulation Association

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On April 10, 2022, China Automobile Circulation Association released the survey results of “automobile dealer inventory” in March 2022: the comprehensive inventory coefficient of automobile dealers in March was 1.75, a month on month decrease of 5.4% and a year-on-year increase of 13.6%. In March, the multi-point epidemic spread widely, and the automobile market as a whole was cold. The decline in sales and replenishment at the end of the quarter led to a significant recovery in the dealer’s inventory level compared with previous years, and the inventory level was above the warning line.

1、 In March, the inventory coefficient increased year-on-year and decreased month on month

Affected by the epidemic, several prefecture level cities have taken epidemic control measures in the whole region or key areas, which has disrupted the market rhythm of car enterprises and dealers. In the sample of 90 cities surveyed, dealers in 25 cities suspended business for several days due to epidemic prevention and control. The normal sales work of dealers cannot be carried out smoothly, resulting in the decline of sales volume, the rise of inventory and the slow return of dealers’ funds. The industry as a whole is cold, so that less than 10% of the dealers completed the task index of the current month in March, and nearly 50% of the dealers completed only 70% of the task index. Production and logistics are affected by the epidemic, and the order delivery cycle ranges from 1 to 2 months. Considering that the supply cannot return to normal in the short term, the vehicle delivery cycle is expected to be extended. At the same time, the shortage of raw materials for automobile production and the increase of production costs have led to the general rise of new energy vehicle prices and the rise of some fuel vehicle prices. In addition, the continuous rise of oil prices and other factors have led to the lack of consumer confidence in car purchase, and the market demand has also been affected to a certain extent.

To sum up, the car market did not meet the expected sales target in March, which was lower than the expected 1.6 million vehicles. The inventory level also increased compared with previous years, and only decreased slightly month on month.

2、 The 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 1.50, down 1.50% month on month; The inventory coefficient of joint venture brands was 1.90, down 5.5% month on month; The inventory coefficient of independent brands was 1.66, down 4.6% month on month.

In March, the inventory coefficient of auto dealers was high, which was mainly affected by the short-term multi-point epidemic, so the high inventory brands will not be announced temporarily.

3、 Cautiously expect the market demand in April 2022 and reasonably control the inventory

Under the control of epidemic prevention, the Beijing auto show originally planned to be held in April was postponed, while local auto show activities were also shelved. The new car plan was passively delayed, which directly affected the heat of the auto market in March. The current round of epidemic has a wide range and is expected to have a certain impact on the market in early April. If the epidemic is controlled in mid and late April and the impact is basically eliminated in May, the backlog of market demand in the short term will be released quickly and the sales volume will gradually recover.

China Automobile Circulation Association suggested 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 protection, and continue to implement the epidemic prevention and control measures. More reading: China Automobile Circulation Association: the inventory coefficient of automobile dealers in May 2020 was 1.55. China Automobile Circulation Association: the inventory coefficient of automobile dealers in November 2021 was 1.35. China Automobile Circulation Association: the inventory coefficient of automobile dealers in November 2019 was 1.49. China Automobile Circulation Association: the inventory coefficient of automobile dealers in November 2020 was 1.72. China Automobile Circulation Association: the inventory coefficient of automobile dealers in July 2021 was 1.45 Association: the inventory coefficient of auto dealers in October 2019 was 1.39. China Automobile Circulation Association: the inventory coefficient of auto dealers in August 2021. China Automobile Circulation Association: the inventory coefficient of auto dealers in September 2021 was 1.24. China Automobile Circulation Association: the inventory coefficient of auto dealers in October 2021 was 1.29. China Automobile Circulation Association: the inventory coefficient of auto dealers in March 2020 was 2.68. China Automobile Circulation Association: the inventory coefficient of auto dealers in October 2020 The coefficient is 1.57. China Automobile Circulation Association: the inventory coefficient of automobile dealers in July 2020 is 1.91. China Automobile Circulation Association: the inventory coefficient of automobile dealers in September 2020 is 1.56. China Automobile Circulation Association: the inventory coefficient of automobile dealers in August 2020 is 1.50. China Automobile Circulation Association: the inventory coefficient of automobile dealers in January 2021 is 1.53

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