中国汽车流通协会：6月中国汽车经销商库存预警指数为56.6% 同比下降5.7个百分点

Core Viewpoint - The latest Vehicle Inventory Alert Index (VIA) from the China Automobile Dealers Association indicates a slight decline in the automotive circulation industry's prosperity, with the index at 56.6% in June 2025, down 5.7 percentage points year-on-year but up 3.9 percentage points month-on-month [1]. Group 1: Market Performance - In June, automotive dealers aimed to meet half-year targets through promotions during the Dragon Boat Festival and "6.18" sales events, alongside increased family car purchases due to the end of the college entrance examination and summer travel [2]. - The total passenger car sales in June are expected to be around 2 million units, slightly exceeding expectations, despite rising dealer inventory levels due to the "price for volume" strategy [2]. - Only 27.5% of 4S stores met or exceeded their sales targets in the first half of the year, indicating significant pressure on most dealers, with a notable risk of inventory accumulation [2]. Group 2: Inventory and Demand Indicators - The inventory index for June has significantly increased, while market demand, average daily sales, and operational conditions indices have decreased, reflecting heightened market pressure [2]. - The national index stands at 56.6%, with regional indices showing variability: North at 60.2%, East at 54.9%, West at 62.7%, and South at 49.6% [3]. - The indices for luxury/imported, joint venture, and domestic brands have risen month-on-month, indicating varied performance across brand types [7]. Group 3: Future Market Outlook - The automotive market demand in July is expected to decline month-on-month due to demand exhaustion, adverse weather in some regions, and the traditional off-peak consumption season [9]. - Despite ongoing increases in manufacturer wholesale volumes, dealer inventory pressure is anticipated to worsen, although new vehicle launches and regional auto shows may help boost sales [9].