Market Chatter: Stocks at Chinese Car Dealerships Decline in August

MT Newswires Live09-05

Stocks at China's car dealerships fell 0.7 points year over year in August to 56.2%, indicating movement in inventories, Yicai Global reported Wednesday, citing data from the China Automobile Dealers Association's Vehicle Inventory Alert Index.

For luxury and important brands, the index stood at 59.3%, while the index for domestic brands was at 51.8%, the reports aid.

A lower index means inventories are in sync with sales.

China's biggest local automakers include Dongfeng Motor Group (SHA:600006, HKG:0489), SAIC Motor (SHA:600104), Chongqing Changan Automobile (SHE:000625), BAIC Motor (HKG:1958), Guangzhou Automobile Group (SHA:601238, HKG:2238), Great Wall Motors (SHA:601633, HKG:2333) and FAW Group (SHE:000800).

Top new-energy vehicle makers in China include BYD (SHE:002594, HKG:1211), Li Auto (HKG:2015), XPeng (HKG:9868) and NIO (HKG:9866, SGX:NIO).

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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