Chevy had the highest inventory backlog in March 2024 out of all automotive brands offered for sale in China, new data from the China Automotive Dealers Association indicates.
The Bow Tie brand had 113 days supply at the end of March, which means inventory levels on dealer lots would support 113 days of selling at current levels before running out if no additional stock arrived, Automotive News reports.
The number of Chevy vehicles at Chinese dealerships is almost twice the level of 60 days supply, which is usually considered optimal in the automotive industry. The China Automotive Dealers Association listed the inventory levels of only two other brands, Besturn with 106 days supply and state-owned Chery with 94 days supply stacked up at dealerships.
Not only is the inventory of Chevy products far in excess of the level thought to be best in the car business, but it is also drastically out of sync with inventory levels in the Chinese auto market overall. For March, the typical brand in China had 47 days supply at the sales lot, with domestic brands at 45 days supply and foreign brands at 37 days supply.
High Bow Tie inventory level mirrors a corresponding plunge in demand for the marque’s vehicle in the People’s Republic. Chevy sales dropped slightly more than 46 percent year-over-year in China, with the lack of enough EV models explaining Chinese consumer disinterest. Michael Dunne, who once headed GM Indonesia, recently remarked, “Chevy and Buick no longer mean much to the Chinese consumer.”
The Chevy Monza still generated solid sales figures, while GM plans the introduction of the Chevy Tahoe to the market later in 2024. The automaker is also less than two weeks away from pulling the sheets on the all-new 2025 Chevy Equinox Plus PHEV at the 2024 Beijing International Automotive Exhibition.
The General’s fastest-growing category generated sales of 126,000 “new energy vehicles,” including EVs and plug-in electric hybrids (PHEVs) during the quarter, representing 42.6 growth compared to Q1 2023.
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Comments
Some brands shoot for the cheapest vehicles so they can charge the least and get more sales.
Some vehicles shoot for the highest quality so they can charge the most for bigger profits.
GM shoots for the cheapest vehicles and highest price at the same time. Then act surprised their market share continues to dwindle, blaming other things.
This is what happens when you abandon all your other markets and put all your eggs into one basket. Now that one basket is disinterested in your products and now GM is scrambling to re-enter the markets they abandoned for China. I thought this was a bad idea back in the 2010s and now its proving I was right. So GM needs to wake up and stop taking that market for granted and start making cars for the world and not just China with the US as an afterthought. Because it isn’t.
No Wonder sales are slow!!! Not even a Chinese customer would want that color!!
EV sales are taking off.
Look All American brands are struggling in China. The economy is tanking there and due to nationalism were people are pressured to buy Chinese brands.
Everyone is down from Tesla, Fiord, Starbucks and Apple.
The real trouble is most companies have rely on Chinese sales as it was one of few growing markets. Some brands may not have survived without Chinese sales. This could lead to greater challenges period. China is tge second largest economy.
I‘m a GM fan from China and I’m telling you its all about the product, Chinese automaker are really making something great now, all the chevy sold here were like 10 years older than them with poor powertrain, disappointed interior, unintelligent cabin etc.
GM now is just ready to develop SDV 2.0 which is already eliminated by Chinese automaker years ago
Chinese brands are gaining more favor from Chinese buyers, as tensions between China and the US are at an all time high. Now add to that the Chinese economy is soft right now, I don’t see things going back to what they were for now.
Some of Chinas products are good. But they still have the crap cars too. Like many things they make. Some items as good as any and some as good as the Iranian Drones.
Well nationalism can be part people but more party.
Here we buy what we like. There you may be advised what to buy.
I have a question:
How many miles per year does the average Chinese citizen drive in China?
Anyone seen an answer to that?
To all the manufacturers that decided to move or place factories in China, your technologies, systems, and processes have all been studied, learned, or even stolen. And now that China has learned or taken everything they need from you, they don’t need you any more. China will use everything against you, force their citizens to buy Chinese only, and put you out of business in their country.
Yep! What you have posted there is a very real scenario as the CCP political machine ramps up Chinese patriotism to high levels. At the same time Chinese brand vehicles have been getting much better in terms of build quality reliability and quality of interior materials. I cant wait to see the top executives of GM and other companies faces contort in panic and incredulity when the CCP boot their sorry asses from China.
Chinese mfg still need over site or discipline.
We just found a parts supplier selling a trans brake that is defective. Who ever made the copy failed to remove the name of the original part from it.
Their mfg can still be very corrupt. I had a brake supplier say that if they follow the blue prints they are great. But if they don’t suddenly no one speak English.
its not just the US, even japanese brands are getting crushed.
An EV can go 3 times the distance as an ICE car in a same amount of fuel/energy.
As people realize this, definitely EVs will gain wider acceptance.