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Dealership stockpiles of Chinese-brand vehicles rise in June
Automotive News China | 2017/7/18

The stockpile of Chinese-brand new vehicles on dealership lots jumped to a 71-day supply last month from 57 days in May as domestic automakers maintained production levels despite a slowing market.

Dealerships that sell vehicles built by Changan Automobile Co. and Chery Automobile Co. posted backlogs of more than 90 days, according to the China Automobile Dealers Association.

Stockpiles of two other domestic Chinese carmakers, China FAW Group Corp.s car unit and Great Wall Motor Co., topped 60-day supplies. 

In June, foreign-brand dealerships selling locally produced vehicles and imports reported unchanged inventories.

Dealerships selling domestically built foreign-brand vehicles carried a 41-day backlog, while those selling imported vehicles reported a 47-day supply.

Inventories in China have remained above the normal range of 24 to 36 days since the government raised the sales tax on small vehicles to 7.5 percent on Jan. from 5 percent last year.

Because of the tax hike, sales of cars and light trucks in China grew only 1.6 percent in the first six months, down from a 15 percent increase for all of 2016.

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