Feng Xingya Overall prices of Guangzhou Automobile Group will stabilize as National VI A inventory is fully consumed

Guangzhou Automobile Group's prices will stabilize as National VI A inventory is depleted, according to Feng Xingya

【PhoneAuto News】Recently, PhoneAuto noticed that at the 2022 annual shareholder meeting of Guangzhou Automobile Group held in Hong Kong, China on May 24th, Feng Xingya, the general manager of Guangzhou Automobile Group, stated in response to investor questions that the price war since this year was partly due to inventory reduction and partly due to price adaptability adjustments caused by policy changes. For Guangzhou Automobile Group, the situation of price competition and inventory and the overall production and operation situation and the expected goals of the group are basically consistent, so the overall price situation of Guangzhou Automobile Group should be stable in the future, with more stable prices and a gradually stable inventory structure. This year, the country will switch from National VI A to National VI B, and Guangzhou Automobile Group has made full preparations. The inventory of National VI A has been completely digested, and there are not many non-RDE vehicles of National VI B.

According to the information previously published by Cui Dongshu, the secretary general of the China Passenger Car Association, due to the early Spring Festival this year, the cumulative national retail sales of passenger cars from January to April decreased by 1% year-on-year to 5.92 million units under the combined influence of expected stimulus policies, further promotion of wait-and-see sentiment, and promotional wars. At the same time, the domestic fuel car market in April recovered slowly, causing the inventory of manufacturers and dealers at the end of April to decrease to 3.23 million units, and the calculated inventory can support future retail sales for 49 days.

Currently, the Chinese automobile industry is developing rapidly. In April 2023 alone, the national retail volume of passenger cars will reach 1.63 million units. At the same time, the China Passenger Car Association predicts that the sales of new energy passenger cars in 2023 will reach 8.5 million units, an increase of about 30% compared to 2022. In addition, overall, the annual production and sales volume of the Chinese automobile industry is bound to exceed 40 million vehicles in the future.

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