中国汽车流通协会：7月份汽车经销商综合库存系数为1.35 环比下降4.9%

Group 1 - The core viewpoint of the article indicates that the inventory level of automobile dealers in July 2025 is below the warning line but higher than the reasonable range, with a comprehensive inventory coefficient of 1.35, reflecting a month-on-month decrease of 4.9% and a year-on-year decrease of 10.0% [1][2] - The estimated terminal sales of passenger vehicles in July are 1.826 million units, leading to an approximate total inventory of 2.47 million vehicles at the end of July [1][4] - The overall automotive market in July entered a traditional off-season, with a stable performance despite the issuance of a new subsidy policy for vehicle trade-ins [4][9] Group 2 - The inventory coefficient for high-end luxury and imported brands increased by 13.0% to 1.56, while the inventory coefficient for joint venture brands rose by 2.4% to 1.29; in contrast, the inventory coefficient for domestic brands decreased by 10.7% to 1.34 [6] - No brand had an inventory depth exceeding 2 months in July, with brands like Hongqi and Dongfeng Honda showing relatively high inventory depth [7] - The automotive market is expected to remain stable in August, with potential growth in terminal sales due to the release of pent-up demand and promotional activities [9][10]