According to the China Passenger Car Association (CPCA), China's PV wholesale volume in July edged down 2.7% from the previous year to 1,557,566 units, the smallest decrease so far this year. For the first seven months of 2019, a total of 11,693,175 PVs were sold across China, a year-on-year decline of 12.6% (PVs hereby refer to China's locally-produced cars, MPVs, SUVs and minibuses).
The vehicle inventory alert index (VIA) in July was at 62.2%, a year-on-year growth of 8.3 percentage points and a month-on-month increase of 11.8% percentage points, according to the China Automobile Dealers Association (CADA). That month, the VIA still exceeded an official warning threshold.
The VIA growth suggests a heavier inventory pressure imposing on car dealers. As of the reason, the CADA said some regions undergoing the transition from China V to VI emission standard in June overdrew market demands, thus dealer inventory pressure was intensified as sales in July evidently declined with car prices picking up.
There were only two SUV models—the Haval H6 and the CR-V—among the top 10 PV models by wholesale volume for the month of July. The others were all car models.
China's car sales in July amounted to 752,559 units, falling 8.0% over a year ago, versus an 11.3% year-on-year decline in June car sales. Year-to-date car sales for the country slide 12.5% to 5,703,870 units.
As of July, the Lavida has been crowned the best-selling car model for 7 consecutive months. The champion car model achieved a growth of 8.8% from the prior-year after suffering downturn in May and June.
July sales of the Corolla slumped 26.4% over the year-ago period since the existing model's life cycle is almost closed. However, the sales of the typical car model are expected to be further increased after the all-new Corolla hit the market in August.
Among the top 10 locally-produced car models by July wholesale volume, the Santana, boasting the biggest sales increase (247.4%), was ranked fourth.
The Levin entered the top 10 car model list for the second time this year primarily thanks to the roll-out of the TNGA-based all-new Levin.
In July, China's SUV sales reached 688,388 units, rising 6.8% over a year earlier. However, Jan.-Jul. SUV sales in this country still shrank 10.7% to 5,033,169 units.
Although the Haval H6 maintained its championship among SUV models, it was hit by an 11.4% year-on-year decline with 23,079 units sold in July, only 947 units more than that of the runner-up CR-V.
Honda's CR-V recorded the largest year-on-year increase among top 10 China-made SUV models by July sales due to its outstanding reputation and hotter-selling hybrid models.
Besides, there were only three China's self-owned SUV models—the Haval H6, the Boyue and the Roewe RX5. All of them chalked up double-digit drop year over year.
