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CPCA Cui Dongshu: CN End-Aug PV Mkt Inventory Shrinks MoM
Recommend 49 Positive 105 Negative 26 |
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China Passenger Car Association (CPCA) Secretary-General Cui Dongshu said in a post that automobile manufacturers have considerably reduced production YTD in response to the market downturn. The trend of new energy vehicles (NEVs) was better in August. Data showed that there were 3.15 million passenger vehicles (PVs) in stock nationwide at the end of August, 180,000 fewer than the previous month and 330,000 fewer than in August 2023. Analysis of the characteristics of changes in the inventory of automakers producing NEVs suggested that the inventory fell to 440,000 vehicles in August, a notable decrease from the peak inventory of 480,000 in June, while the overall industry inventory was healthy. It was expected that the number of days that existing inventory can support future sales in August will be 46, a slump compared to 53 days in August 2022 and 52 days in August 2023, indicating that overall inventory pressure was not tremendous. AAStocks Financial News |
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