Dealership stockpiles across China surged to an average of 60 days in February, doubling the number in the previous month.
The sharp rise in inventories was mainly due to a seasonal lull in the wake of the weeklong Lunar New Year holiday in February, according to the China Automobile Dealers Association.
Last month, stockpiles of foreign-brand vehicles built in China approached 60 days, up from 25 days in January.
Inventories of imported vehicles also jumped to 74 days, up from 47 days in the previous month. Domestic Chinese brands carried a 45-day backlog, up from 35 days in January.
Last month, Volvo had the highest dealership inventories, with a 101-day backlog. It was followed by Chery, which had an 83-day stockpile. Audi was third highest with an 82-day inventory.
Source:Automotive News China