Zhitong Finance APP learned that on February 13, 2022, the China Automobile Dealers Association released the results of the January 2022 "Auto Dealer Inventory" survey: the comprehensive inventory coefficient of auto dealers in January was 1.46, down 4.6% year-on-year and up 2.1% month-on-month. Due to the easing of chip shortages, dealer inventory levels have rebounded, but the inventory coefficient is still below the warning line.
In January, the inventory coefficient decreased year-on-year and increased month-on-month
Due to the easing of the lack of cores in the fourth quarter of last year, the supply of automobiles has gradually recovered, and the inventory level of dealers has further recovered. In January 2022, pre-holiday consumption entered the end, affected by the scattered epidemic, the number of people returning to their hometowns for the festival has not yet returned to the pre-epidemic level, and pre-holiday consumption has been affected to a certain extent. Considering that February is the off-season for manufacturers, it is expected that the car inventory in February will still be at a low level, and the inventory of dealers in March and April is expected to continue to rise.
This year's local New Year policy has suppressed the wave of car purchases before the holiday, and the tail phenomenon is not as good as the same period last year. At the same time, some dealers continued to write off before the Spring Festival, superimposed on the actual sales of the reserved orders last month converted into January, and it is expected that the sales of full-caliber passenger cars in January 2022 will be the same as that of December last year, and will decline from last year, about 2.3 million units.
Second, the inventory coefficient of high-end luxury & imports, joint ventures and independent brands increased month-on-month
The inventory coefficient of high-end luxury & imported brands was 1.22, up 2.5% month-on-month; The inventory coefficient of the joint venture brand was 1.46, up 3.5% month-on-month; The inventory coefficient of independent brands was 1.58, up 2.6% month-on-month.
Third, cautiously anticipate market demand in January 2022 to reasonably control inventory
February was in the off-season of post-holiday sales, and at the same time, the number of working days affected by the Spring Festival holiday decreased, and the market demand slowed down short-term support was insufficient. Full-caliber passenger car sales in February are expected to be about 1.4 million units, down around 40% month-on-month.
The China Automobile Dealers Association suggests that dealers should rationally estimate the actual market demand and reasonably control the inventory level according to the actual situation. At the same time, we must not relax the epidemic prevention and control measures and continue to implement the measures for epidemic prevention and control.
This article is excerpted from the "China Automobile Dealers Association"; Zhitong Finance Editor: Han Yongchang.