【库存系数】2025年8月汽车经销商库存系数为1.31

Core Viewpoint - The article discusses the inventory levels of automobile dealers in China for August 2025, highlighting a decrease in inventory coefficient month-on-month but an increase year-on-year, indicating a cautious market outlook for September 2025 [2][3]. Group 1: Inventory Levels - In August 2025, the comprehensive inventory coefficient for automobile dealers was 1.31, a month-on-month decrease of 3.0% but a year-on-year increase of 12.9%, indicating that inventory levels are below the warning line but above the reasonable range [2][3]. - The total inventory of automobile dealers at the end of August is estimated to be around 2.6 million vehicles, based on a terminal sales volume of 1.995 million passenger cars [5]. Group 2: Market Dynamics - The positive performance of the car market in August was attributed to several factors, including the back-to-school car purchase demand, promotional activities during the "818" car buying festival, and the release of new models, which collectively stimulated consumer demand [5]. - The inventory coefficients for high-end luxury and imported brands were 1.48 (down 5.1% month-on-month), for joint venture brands were 1.28 (down 0.8%), and for domestic brands were 1.30 (down 3.0%) [8]. Group 3: Future Outlook - The article expresses a cautious expectation for market demand in September 2025, driven by the "Golden September and Silver October" seasonal effects, the deepening of the old-for-new policy, and increased consumer demand for family car purchases and holiday travel [9]. - The China Automobile Dealers Association recommends that dealers rationally estimate actual market demand and enhance the promotion of old-for-new and scrapping policies to boost consumer confidence while prioritizing cost reduction and efficiency [9].