【库存系数】2025年2月汽车经销商库存系数为1.61

Core Viewpoint - The automotive market is experiencing a cautious adjustment phase due to seasonal factors and consumer sentiment, with inventory levels above the warning line but still relatively low overall [2][3]. Group 1: Inventory Analysis - In February 2025, the comprehensive inventory coefficient for automotive dealers was 1.61, reflecting a 15.0% month-on-month increase and a 7.5% year-on-year decrease [2]. - The total inventory of automotive dealers at the end of February was approximately 2.1 million vehicles, indicating that while the inventory coefficient is above the warning line, the overall inventory level remains relatively low [3]. - The inventory coefficients for high-end luxury and imported brands rose to 1.85 (up 58.1% month-on-month), while joint venture brands reached 1.71 (up 48.7% month-on-month), and domestic brands saw a decrease to 1.46 (down 11.0% month-on-month) [4]. Group 2: Market Outlook - The market demand for March 2025 is expected to improve due to the spring auto show, the launch of multiple new models, and the continued implementation of vehicle trade-in policies [5]. - The China Automobile Dealers Association advises dealers to rationally estimate actual market demand and enhance promotion of trade-in and scrapping policies to boost consumer confidence [5]. Group 3: Inventory Monitoring System - The inventory warning system established by the China Automobile Dealers Association aims to monitor market conditions, assist in regulatory decision-making, and mitigate operational risks [6]. - An inventory coefficient between 0.8 and 1.2 indicates a reasonable inventory level, while a coefficient above 1.5 signals a warning level that requires attention [6].