Dealership backlogs ease as 2022 ends

According to China Automobiles Dealers, inventory at new car dealerships of all brands fell by 56 days last month as shoppers took advantage of tax breaks for gasoline vehicles and subsidies for electric vehicles. minutes to 32 days. Association.

Inventories at stores selling foreign mass-market brands made in China fell in December from the 66th to 31st of the previous month, an industry group said.

Average days of inventory for dealers stocking luxury brands and imports fell from 47 to 31 in November.

The backlog of orders for Chinese brand stores decreased from the 51st of the previous month to the 37th.

In a bid to boost the market after a sharp contraction caused by the pandemic from March to May, Beijing announced on June 1 the introduction of gasoline vehicles priced under 300,000 yuan ($44,418) with engine sizes up to 2.0 liters. Halved purchase tax to 5%.

The tax cut ends at the end of December.

Another subsidy program launched by the Chinese government in 2010 for buyers of all-electric and plug-in hybrid vehicles also ended at the end of the year.

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