The average backlog at new-vehicle stores marketing foreign mass-market brands and producing in China rose to a 65-day supply in February from a 57-day supply the previous month, according to the China Automobile Dealers Association.
The trade group blamed the increase in dealership stockpiles at foreign brands on weak demand for gasoline vehicles as the market transitions more and more to electrified products.
In February, inventories at stores stocking luxury brands and imported vehicles remained unchanged at 51 days.
Stockpiles at dealerships under Chinese brands slid to 52 days from 53 days a month earlier.
As a result, the average backlog at new-car dealerships across all brands climbed to a 58-day supply in February from a 54-day supply the previous month,
Geely Automobile Holdings’ premium brand Lynk & CO reported the highest average dealer stockpiles at 92 days.
It was followed by Cadillac and Buick stores, which recorded an average backlog of 83 days and 75 days, respectively, the CADA said.
