中国汽车流通协会：7月汽车经销商综合库存系数为1.35 同比下降10%

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, which represents a month-on-month decrease of 4.9% and a year-on-year decrease of 10.0% [1][2][4] Group 2 - In July, the overall automobile market entered a traditional off-season, remaining relatively stable. Despite the timely issuance of 69 billion yuan in subsidies for vehicle trade-ins, local financial disbursements were generally delayed by 15-25 days, exacerbating consumer hesitation. Additionally, continuous rainfall during the flood season suppressed travel demand, leading to a slight decline in inventory levels compared to the end of June [4][8] - The Ministry of Finance and the State Administration of Taxation announced a reduction in the consumption tax threshold for ultra-luxury cars from 1.3 million yuan to 900,000 yuan, but the impact on imported car sales is limited due to the narrow range of affected models [4][8] Group 3 - The inventory coefficients for high-end luxury and imported brands increased month-on-month, with high-end luxury and imported brands at 1.56 (up 13.0%) and joint venture brands at 1.29 (up 2.4%). In contrast, the inventory coefficient for domestic brands decreased to 1.34 (down 10.7%) [5][7] Group 4 - The automobile market in August is expected to remain stable, with a slight increase in terminal sales compared to July due to the release of pent-up demand from the back-to-school season, promotional events, and the launch of new models at autumn auto shows [8] - The China Automobile Dealers Association suggests that due to increasing uncertainties in the automobile market, dealers should rationally estimate actual market demand and enhance the promotion of trade-in and scrapping policies to boost consumer confidence while prioritizing cost reduction and efficiency [8]