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A few days ago, according to the latest price report of JDPower Asia Pacific, the auto market in May showed a trend of high and low. During the May Day holiday, the number of passengers increased, and the market ushered in a short-term recovery, but the subsequent sales volume was not as expected, and dealer inventory pressure has not been alleviated.
The overall market inventories in May averaged 1.45, a slight increase from 1.38 in April. The average inventory turnover days in a single store is 32 days, with an average age of 46 days in the garage. In May, the inventory depth of each car system increased from the previous month, and the average brand was 1.85, which was slightly higher than other cars, followed by Korean cars 1.8. The US car inventory has the lowest depth of 1.15. From the brand point of view, most of the major joint ventures and independent brand inventory pressures in May increased slightly, but it is worth noting that Beijing Hyundai's inventory depth decreased from 2.0 in April to 1.7, and inventory pressure eased slightly.
In May, luxury car discounts were more, with medium-sized luxury cars dropping 1.4% from last month's discounts. The price cuts were the highest in all market segments. Large luxury cars began to increase discounts from March, with an average of 82 in May. %, showing that sales are getting worse. The discount for compact SUVs is still relatively low, with an average discount rate of 95.8%, mainly due to the fact that some new car discounts have reduced the average discount.
In April, the overall market sales rebounded slightly, and the main market segments in March were all growth. However, compared with the same month last year, the average passenger car still showed a downward trend. SUV is still the main growth driver, and cumulative sales have increased by 45% year-on-year. In April, the sales volume of mainstream SUVs reached 368,000, and the sales of luxury SUVs reached 64,000, up 34% and 9% respectively.
The JDPower auto transaction price analysis report collects tens of thousands of actual transaction data from China and has the price, sales volume and inventory information of each brand in the market.
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