Light-vehicle inventories at dealerships rebounded in June after declining for four consecutive months. The average backlog at new-car dealerships increased to 52 days in June from 47 days in May.
The rebound signals that pent-up consumer demand for new cars and light trucks during the coronavirus outbreak this year has been fully released, the China Automobiles Dealers Association said.
With the virus spreading across China in late January and consumers avoiding showrooms, new-car inventories at dealerships hit a 14.8-month supply -- a historical high -- in February.
After the pandemic was gradually brought under control, dealerships started to reopen in late February, with inventories steadily declining over the next three months.
In June, the average backlog of stores marketing domestically built, foreign mass-market brands increased to 53 days from 43 days in May, according to the dealer body.
Stockpiles at dealerships under Chinese brands rose to 62 days from 57 days the previous month.
Inventories at stores marketing luxury brands and imported foreign brands also edged up to 41 days from 38 days a month earlier.