中国汽车流通协会：11月中国汽车经销商库存预警指数为55.6%

Core Viewpoint - The latest Vehicle Inventory Alert Index (VIA) from the China Automobile Dealers Association indicates a rising inventory alert index of 55.6% in November 2025, reflecting a year-on-year increase of 3.8 percentage points and a month-on-month increase of 3.0 percentage points, suggesting a decline in the automotive circulation industry's prosperity [1]. Group 1: Market Performance - The overall automotive market in November showed a "front low and back high" trend, with a relatively flat performance in the first half of the month due to the consumption pull-forward effect from previous months [3]. - 80% of dealers expressed pessimism about the November market, believing the overall performance did not meet expectations [3]. - The second half of November saw significant market improvement driven by promotional activities like "Double 11," the Guangzhou International Auto Show, and the release of new electric vehicle models [3]. Group 2: Inventory and Demand - The survey revealed a decline in sub-indices for inventory, market demand, average daily sales, employment, and operational conditions in November [4]. - The national index stood at 55.6%, with regional indices showing variations: North at 57.1%, East at 56.8%, West at 55.2%, and South at 52.0% [6]. Group 3: Brand Performance - The index for luxury and imported brands, as well as joint venture brands, increased month-on-month, while the index for domestic brands decreased [8]. Group 4: Future Outlook - December is expected to be a peak sales month, with dealers and manufacturers intensifying efforts to meet sales targets through increased promotions and accelerated sales [10]. - Looking ahead to 2026, dealers anticipate a slight growth trend in passenger car sales, with 25.4% expecting a year-on-year increase of up to 5%, while 20.8% foresee a decrease within the same range [10]. - The China Automobile Dealers Association advises dealers to realistically assess market demand and enhance promotion of "trade-in and scrapping policies" to boost consumer confidence [10].