AutoBeta(AutoBeta.net)05/09 Report--

According to the latest data from the Federation of passengers, retail sales of cars across the country fell 18% year-on-year in April, while wholesale sales fell 22% year-on-year. It means that China's car sales have declined for 11 months in a row, with double-digit declines in all four months this year, with a trend of further expansion.

The association pointed out that the recent policy of implementing national six standards has come out one after another, which also strengthens the dealers' practice of steady sales and digestion of national five models. The car market is extremely depressed this year, and the pressure of channel inventory before the implementation of the sixth year was originally small, but it brought greater psychological pressure on dealers under the lower retail demand, so the promotion and price reduction since the beginning of this year is unprecedented. Dealer inventory adjustment pressure is still large, the need to reduce inventory corresponding.

In addition, according to the April "Automobile Dealer inventory early warning Index" report released by the China Automobile Circulation Association, the early warning index reached 61% in April, up 5.7% from the previous month and 6.47% from the same period last year, and the inventory early warning index remained above the warning line for 16 consecutive months.

With the low sales volume and the increasing inventory pressure of dealers, the whole automobile market is in an unfavorable environment. It is reported that the National Development and Reform Commission is formulating relevant policies to boost automobile consumption in an all-round way. Documents circulated online show that the National Development and Reform Commission has drawn up an implementation plan to promote automobile consumption, explicitly forbidding all localities to issue new car purchase restrictions, and increasing the number of license plate increments of places that have been restricted in 2019 and 2020 by 50% and 100% respectively on the basis of 2018; no restrictions on the purchase of new energy vehicles; and speeding up the lifting of restrictions on the entry of pick-up trucks into cities.

The NDRC also responded that it is learning about policies to stimulate automobile consumption, and that any policy should be repeatedly demonstrated and fully solicited by the parties concerned.

If the policy of comprehensively boosting automobile consumption is implemented vigorously and involves a wide range, once implemented, it may bring about great changes to the domestic automobile environment.

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