中国汽车流通协会：10月份二手车经理人指数为47.8% 环比微增0.1个百分点

Core Insights - The October used car manager index (UCMI) in China is reported at 47.8%, showing a slight month-on-month increase of 0.1 percentage points but a year-on-year decline of 3.8 percentage points, indicating a marginal improvement in market conditions while still remaining in a recessionary zone [1] Market Demand and Sales - October is traditionally a peak sales month for automobiles in China, with the "Golden Week" in early October contributing to a surge in used car market activity, leading to a 12.6% year-on-year increase in national automobile sales revenue during the holiday [4] - A survey indicates that 23.8% of respondents reported an increase in market demand for used cars in October, although the overall demand increase compared to September was not significant due to concentrated purchasing during the holiday [5] - The transaction volume of used cars saw a slight increase, with 23.4% of dealers reporting higher sales in October, suggesting a steady recovery in the market [7] Pricing and Inventory - The acquisition and sales prices of used cars remained stable in October, with 24.2% of managers reporting a decrease in acquisition prices and 13.5% noting an increase in sales prices [9] - There was a reduction in inventory levels among used car dealers, with inventory turnover times remaining stable, reflecting improved market activity and sales growth [11] Business Conditions - 24.2% of used car managers reported improved business conditions in October, indicating a further enhancement in dealer operations [13] - Despite signs of market recovery, dealers continue to face significant pressures, with many adopting a "low-margin, high-volume" strategy to accelerate cash flow, influenced by unstable end-consumer demand [18] Future Outlook - The expected UCMI for November is projected at 49.2%, still within the recessionary range, suggesting ongoing challenges for the industry despite recent improvements [19]