China's Auto Sector Facing An Increasing Car Inventory
China's Auto Sector Facing An Increasing Car Inventory
BEIJING, Dec 13 Asia Pulse - China's automotive industry is facing a big pressure from increasing inventory of cars, betokening the coming of a more fierce market in the coming year.
According to statistics from 70 major auto dealers in China, by the end of October of this year, vehicle inventory reached 306,700 units. The inventory increased 6.9 per cent in October as compared with the previous month and 60 per cent over the beginning of this year.
Thanks to the efforts in reducing inventory and production, Octobers inventory of car dropped 8.74 per cent from the previous month.
For different models of cars, inventory of medium, ordinary and mini cars declined 3.27 per cent, 19.82 and 12.98 per cent month on month, respectively in October. The reduction was mainly in the inventory of cars with displacement below 1.6 liters.
Auto dealers in China are now in a difficult situation facing many problems such as overcapacity of production, increasing inventory, profits dropping, launching of new vehicles, lowering of tariff rate and weakening consumption. The competition on auto market is forecast to be even fiercer in 2005.
Chinas sales of motor vehicles reached 3,440,600 units in the first ten months of this year, according to statistics from the 70 major auto dealers. Of this, 1,169,200 were trucks, accounting for 33.98 per cent of the total; 558,100 were buses, 16.22 per cent of the total; and 1,621,200 units, 47.12 per cent of the total.
Sales of medium-high grade cars accounted 4.63 per cent of the total sales of cars; medium-grade cars, 47.58 per cent of the total; ordinary type, 38.38 per cent of the total; and compact cars, 9.41 per cent.
For consumption structure, 22.22 per cent were sold for commercial use; 11.27 per cent for taxi service, and 65.51 per cent for personal use.
The top four brands in sales of medium-high grade cars were Teana, Regal, Mondel and Accord.
The top five brands in sales of medium cars with displacement between 1.6.2.5 liters were Santana, Accord, Family, corolla and Excelle.
The top five brands in sales of ordinary type of cars were Jetta, Fit, Xiali (Charade), Haoqing and Sail.
The top four brands in sales of minicars were Alto, Flyer, Beidouxing and Xinfu Shizhe.
BEIJING, Dec 13 Asia Pulse - China's automotive industry is facing a big pressure from increasing inventory of cars, betokening the coming of a more fierce market in the coming year.
According to statistics from 70 major auto dealers in China, by the end of October of this year, vehicle inventory reached 306,700 units. The inventory increased 6.9 per cent in October as compared with the previous month and 60 per cent over the beginning of this year.
Thanks to the efforts in reducing inventory and production, Octobers inventory of car dropped 8.74 per cent from the previous month.
For different models of cars, inventory of medium, ordinary and mini cars declined 3.27 per cent, 19.82 and 12.98 per cent month on month, respectively in October. The reduction was mainly in the inventory of cars with displacement below 1.6 liters.
Auto dealers in China are now in a difficult situation facing many problems such as overcapacity of production, increasing inventory, profits dropping, launching of new vehicles, lowering of tariff rate and weakening consumption. The competition on auto market is forecast to be even fiercer in 2005.
Chinas sales of motor vehicles reached 3,440,600 units in the first ten months of this year, according to statistics from the 70 major auto dealers. Of this, 1,169,200 were trucks, accounting for 33.98 per cent of the total; 558,100 were buses, 16.22 per cent of the total; and 1,621,200 units, 47.12 per cent of the total.
Sales of medium-high grade cars accounted 4.63 per cent of the total sales of cars; medium-grade cars, 47.58 per cent of the total; ordinary type, 38.38 per cent of the total; and compact cars, 9.41 per cent.
For consumption structure, 22.22 per cent were sold for commercial use; 11.27 per cent for taxi service, and 65.51 per cent for personal use.
The top four brands in sales of medium-high grade cars were Teana, Regal, Mondel and Accord.
The top five brands in sales of medium cars with displacement between 1.6.2.5 liters were Santana, Accord, Family, corolla and Excelle.
The top five brands in sales of ordinary type of cars were Jetta, Fit, Xiali (Charade), Haoqing and Sail.
The top four brands in sales of minicars were Alto, Flyer, Beidouxing and Xinfu Shizhe.
posted by InvBanker at 1:27 PM
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