According to the latest “China Vehicle Inventory Alert Index Survey” (VIA) released by the China Automobile Dealers Association on March 31, the inventory alert index for Chinese dealers in March 2024 was 58.3%. The index remains above the critical 50% threshold. A higher index reflects lower market demand, increased inventory pressure, and greater operational risks, placing the auto market in a downturn.
The China Association of Automobile Manufacturers (CAAM) recently released wholesale sales volumes. Surprisingly, even Li Motors, known for its efficient inventory management, has experienced a significant inventory buildup. Data shows that Li Motors produced 100,000 vehicles in the first quarter of this year, but only sold 80,000, leaving 20,000 vehicles unsold in warehouses. The previously popular L9 has become the “inventory king,” accumulating 7,500 vehicles over the past three months. Additionally, the Li Motors MEGA, launched on March 1st faced sales setbacks due to negative publicity, resulting in over 2,000 units of inventory.
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New EVs at 70% off Still Unsold! Li Auto’s Inventory Climbs by 20,000, Piling up Significantly
