对厂家满意度创新低！上半年汽车经销商承压：亏损比例上升至52.6% 仅三成完成销售目标

Core Insights - The satisfaction score of automotive dealers towards manufacturers has significantly declined in the first half of 2025, reaching the lowest level in nearly 14 years due to multiple operational pressures and increased price inversion [1][4]. Group 1: Dealer Performance - In the first half of 2025, 74.4% of automotive dealers experienced varying degrees of price inversion, with nearly half facing price inversions exceeding 15% [4]. - Only 30.3% of dealers met their sales targets, while 29.0% had a target completion rate below 70% [4]. - The profitability situation among dealers worsened, with 52.6% reporting losses, while only 29.9% were profitable [9]. Group 2: Brand Comparison - Dealers of new energy independent brands performed better than those of traditional fuel vehicle brands, with profitability rates of 42.9% for new energy brands compared to 25.6% for traditional brands [9]. - The loss rate for traditional fuel vehicle brand dealers was approximately 58.6%, indicating a significant financial strain [9]. Group 3: Market Dynamics - The domestic automotive market showed mild recovery due to policies promoting vehicle scrappage and replacement, but intense competition led to a situation where increased sales did not translate into higher revenues or profits [12]. - Manufacturers have implemented various rebate structures for dealers, but the complexity and length of rebate cycles have created challenges for dealers in accurately calculating and utilizing these rebates [12]. Group 4: Future Outlook - Dealers anticipate a trend of slight growth or stability in 2025, with only 49% expecting an increase in annual sales, a decrease from expectations at the end of 2024 [12].