超50％亏损，70％未完成销售目标！汽车经销商生存状况进一步恶化

Core Insights - The report from the China Automobile Dealers Association indicates that the survival rate of automotive dealers is declining, with a loss ratio of 52.6% in the first half of 2025, marking a new high in nearly eight years [3][4] - Only 30.3% of dealers met their sales targets, highlighting significant challenges in the market [9] Financial Performance - The loss ratio among automotive dealers has increased, with 52.6% reporting losses, 17.5% breaking even, and 29.9% making profits [3][4] - New car gross profit contribution is at -22.3%, while after-sales and financial insurance contributions are 63.8% and 36.2% respectively [5][6] Market Conditions - The automotive market is experiencing intense competition, leading to a reliance on price cuts to boost sales, resulting in a situation where sales increase does not translate to revenue growth [4] - 74.4% of dealers are facing price inversion issues, with 43.6% experiencing price inversions exceeding 15% [7][8] Dealer Satisfaction - Dealer satisfaction with manufacturers has dropped to a score of 64.7, the lowest in 14 years, due to price inversions and reduced rewards for meeting sales targets [8] - The average gross profit margin (GP1) for dealers is around -16%, indicating that most dealers cannot achieve profitability through car sales alone [7][8] Inventory and Sales Pressure - The inventory warning index for dealers rose to 56.6 in June 2025, indicating ongoing pressure on cash flow and inventory management [8] - A significant portion of dealers (29%) failed to meet 70% of their sales targets, reflecting the broader challenges in the automotive market [9]