超50%汽车经销商亏损

Core Viewpoint - The domestic automotive market is experiencing a mild recovery in consumption due to policies promoting vehicle scrappage and replacement, but intense competition has led to price cuts, worsening the financial situation of dealers [3][4]. Group 1: Dealer Financial Performance - In the first half of 2025, the loss ratio among automotive dealers rose to 52.6%, with only 29.9% reporting profits [3]. - Only 30.3% of dealers met their sales targets, with 29% of dealers achieving less than 70% of their goals [3]. - New car sales losses are the biggest challenge for dealers, with 74.4% experiencing price inversion, and 43.6% of dealers facing price inversions exceeding 15% [3][4]. Group 2: Profitability by Vehicle Type - Independent dealers of new energy vehicles performed better than traditional fuel vehicle dealers, with profit ratios of 42.9% for new energy dealers compared to 25.6% for traditional dealers [4]. - Traditional fuel vehicle dealers face severe losses due to price inversions, while new energy dealers struggle with low after-sales value and long investment recovery periods [4]. Group 3: Dealer Satisfaction and Manufacturer Relations - Dealers reported a significant decline in satisfaction with manufacturers due to reduced rewards for achieving basic targets and an imbalance between effort and return [4][5]. - The automotive industry faces four major issues: imbalanced target setting by manufacturers, distorted rebate systems, collapsed pricing structures, and damaged support services [5]. - Manufacturers need to optimize the rebate cycle and improve clarity on rebate percentages to help dealers better calculate their actual earnings [5].