Core Viewpoint - The latest Vehicle Inventory Alert Index (VIA) for May 2025 indicates a slight improvement in the automotive circulation industry in China, with a current index of 52.7%, reflecting a year-on-year decrease of 5.5 percentage points and a month-on-month decrease of 7.1 percentage points, suggesting a recovery in market conditions [2][4]. Summary by Sections Market Performance - The automotive market in May exhibited a "high at the beginning and low at the end" trend, driven by various regional auto shows and the "May Day" holiday, which boosted consumer demand for family car purchases [4]. - The "old-for-new" vehicle policy and local consumption promotion measures have further stimulated consumer enthusiasm [4]. - As of May, 54.8% of 4S dealerships are preparing for promotional activities related to the 618 shopping festival, while 19.1% have already started promotions [4]. Dealer Conditions - Despite increased customer traffic, the fluctuation in terminal prices has extended order and transaction cycles, leading to slower capital recovery and heightened operational pressure for dealers [4]. - Only 35.0% of 4S dealerships have met or exceeded their sales targets for the first half of the year, with 64.9% falling short, including 17.8% close to completion [4]. Index Breakdown - The inventory and employment sub-indices decreased month-on-month, while market demand, average daily sales, and operational status sub-indices increased [4]. - The national index for May stands at 52.7%, with regional indices showing variations: North at 52.6%, East at 52.4%, West at 62.1%, and South at 48.1% [6]. Brand Performance - The indices for luxury and imported brands, joint ventures, and domestic brands all saw month-on-month declines in May [8]. Future Market Outlook - Looking ahead to June, dealers are cautiously pessimistic, with 37.6% expecting sales to remain flat, 27.4% optimistic, and 35.0% predicting a decline of up to 5% [8]. - The China Automobile Circulation Association suggests that due to increasing market uncertainties, dealers should rationally estimate actual market demand and enhance the promotion of "old-for-new" and scrapping policies to boost consumer confidence [8].
【库存指数】2025年5月中国汽车经销商库存预警指数为52.7%
乘联分会·2025-06-05 08:30