TapTechNews September 21, the secretary-general of the Passenger Car Association, Cui Dongshu, wrote in the public account this afternoon that under the influence of comprehensive factors such as the wait-and-see brought by the expected stimulus policy and the further promotion of the wait-and-see mood by the promotional war, this year the manufacturers significantly reduced production to deal with the sluggish market, and the new energy trend in August was relatively good.
At the end of August 2024, there were 3.15 million units of passenger car inventory nationwide, which decreased by 180,000 units compared with July and 330,000 units compared with August 2023. From the analysis of the inventory change characteristics of enterprises that only produce new energy vehicles, the inventory in August fell back to 440,000 units, which was significantly lower than the peak inventory of 480,000 units in June, and the industry inventory is generally healthy.
Cui Dongshu said that the current sluggish fuel car market has brought the overall caution of manufacturers, and the production contraction after the half-year-end sprint is obvious. The inventory in August is significantly lower than the inventory at the end of 2023, and the overall industry inventory pressure is gradually relieved. The proportion of manufacturers' inventory has increased, but the channel inventory has decreased significantly.
According to TapTechNews' previous report, Cui Dongshu once analyzed in the middle of this month that as the market price reduction and promotional efforts were large from February to April, after consumers waited and watched for a period of time, the purchase enthusiasm was gradually released. Driven by the national scrapping and renewal subsidy policy, the passenger car market retail performance in August 2024 was relatively good. The manufacturer's sales in August were relatively conservative, showing the characteristics of significant destocking.
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Cui Dongshu: August Automobile Manufacturers' Sales Are Relatively Conservative, Significantly Destocking