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According to the news from Bianniu.com on August 18, Cui Dongshu, secretary general of the China Passenger Car Association, said in a statement today that under the influence of the combined factors of the wait-and-see attitude brought about by the expected stimulus policy and the promotion war that further fueled the wait-and-see sentiment, manufacturers have significantly reduced production this year to cope with the sluggish market. The trend of new energy vehicles in July was good, but at the end of July 2024, the national passenger car inventory was 3.33 million units, a decrease of 110,000 units from the previous month, and the manufacturer inventory accounted for 26.8%. The total national passenger car inventory decreased by 150,000 units compared with July 2023, but increased by 90,000 units compared with July 2022.

As the market recovery after the price cut during the Spring Festival this year was relatively slow, the competition pressure in the fuel vehicle market was relatively high. At the end of July, the total manufacturer inventory of 3.33 million units supported future sales for 52 days, which was a general structural pressure compared with 53 days in July last year.