China Passenger Car Association: National passenger car market inventory was 3.48 million units at the end of July, with 56 days reserved for sale

Cui Dongshu of the China Passenger Car Association said that because the Spring Festival in 2023 is the earliest in this century, under the influence of comprehensive factors such as the wait-and-see sentiment brought about by expected stimulus policies and the promotion activities, the retail trend from March to June has gradually strengthened. In July, the production of passenger car companies across the country increased greatly, and retail sales were relatively hot, which led to a slight increase in the national passenger car inventory to 3.48 million units at the end of July, including 750,000 units in manufacturer inventory and 2.73 million units in channel inventory. The inventory of manufacturers accounted for 21.6% of the inventory, an increase of 1.6 percentage points YoY, and an increase of 0.5 percentage points MoM. Since the retail sales expectations from August to October continue to be high, the current inventory of 3.48 million units supports 56 days of future sales.