China’s car inventory index fell in June from prior month, but car market still faces great pressure – industry association
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China’s car inventory index fell in June from prior month, but car market still faces great pressure – industry association
DATA

China’s car inventory index fell in June from prior month, but car market still faces great pressure – industry association

 

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China’s vehicle inventory alert index reached 54% in June, rising by 4.5 percentage points from a year earlier, but down 1.4 percentage points from the previous month, according to the China Automobile Dealers Association.

The index reflects the inventory pressure on automobile dealers and a higher reading indicates weaker market demand, higher inventory pressure and greater risks. 

Despite the decline from the previous month in June, the reading was still at a high level, indicating that China’s auto market is still facing pressure and uncertainties, said the association. 

The high inventory was mainly due to weak consumer purchasing power amid economic slowdown and unstable employment situation, it said.