中国汽车流通协会：11月份二手车经理人指数为46.3% 环比下降1.5个百分点

Core Viewpoint - The latest "Used Car Manager Index" (UCMI) released by the China Automobile Dealers Association indicates a decline in the used car market's performance in November, with the index at 46.3%, reflecting a slight decrease from the previous month and year, suggesting the market remains in a downturn phase [1][4]. Market Demand - In November, 19.8% of surveyed managers reported a decrease in market demand for used cars, indicating a slight overall decline compared to October, attributed to the waning effects of the National Day holiday [5][7]. - Feedback from used car managers shows that 18.2% reported a decrease in transaction volume, while the proportion of those reporting stable transactions increased, indicating a stabilization in the market [7]. Pricing Trends - The survey revealed a decline in acquisition prices for used cars, with 24.4% of managers noting a decrease, while 73.1% reported that sales prices remained stable compared to the previous month [10]. - The overall balance in supply and demand has led to stable sales prices despite the drop in acquisition prices, driven by increased vehicle turnover and a higher influx of vehicles into the used car market [10]. Inventory and Operational Conditions - Inventory levels and turnover times for used car dealers remained stable compared to the previous month, reflecting no significant changes in inventory growth [12]. - A notable 24.0% of managers reported poor operational conditions, an increase from the previous month, with many indicating a decline in working capital by over 10% [14]. Market Outlook - The overall sentiment among used car managers is pessimistic, with an expected index of 45.5% for the following month, indicating continued challenges in the market [16].