中国汽车流通协会：6月份汽车经销商库存系数为1.42 环比上升2.9%

Core Viewpoint - The inventory levels of automobile dealers in China have increased in June 2025, indicating a cautious outlook for the market in July due to seasonal factors and promotional activities in June [1][2][10] Group 1: Inventory Levels - The comprehensive inventory coefficient for automobile dealers in June was 1.42, which represents a month-on-month increase of 2.9% and a year-on-year increase of 1.4% [1] - The estimated total inventory of automobile dealers at the end of June is approximately 2.95 million vehicles, based on a terminal sales figure of 2.084 million passenger cars [1] Group 2: Sales and Promotions - Dealers increased promotional efforts in June to meet mid-year targets, leveraging the Dragon Boat Festival and the "6·18" shopping event to boost terminal sales [4] - Despite challenges from seasonal factors such as farming activities and extreme weather, the retail market for passenger vehicles maintained an upward trend due to ongoing subsidies for vehicle trade-ins [4] Group 3: Brand-Specific Inventory - The inventory coefficient for high-end luxury and imported brands rose to 1.38, an increase of 5.3% month-on-month; for joint venture brands, it was 1.26, up 4.1%; while the coefficient for domestic brands slightly decreased to 1.50, down 0.7% [5][7] Group 4: Market Outlook - July is traditionally a slow month for automobile consumption, and the combination of high temperatures, rainy weather, and the effects of June's promotions is expected to weaken market demand [10] - The China Automobile Dealers Association suggests that dealers should rationally estimate actual market demand and enhance the promotion of trade-in and scrapping policies to boost consumer confidence [10]