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Revised government policies spark surge in used vehicle market
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Most Used Car Dealers in China Are in the Red as Inventories Near All-Time High
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China s domestic car market accelerating recovery chinadaily.com.cn | Updated: 2021-03-04 15:24 Share CLOSE People visit the 18th Guangzhou International Automobile Exhibition at the China Import and Export Fair Complex in Guangzhou, South China s Guangdong province, Nov 29, 2020. [Photo/Xinhua]
The domestic car market is accelerating its recovery, with vehicle inventory falling nearly 30 percent last month, National Business Daily reported.
According to the China Automobile Dealers Association, the auto dealer vehicle inventory alert index stood at 52.2 percent in February, down 29 percent year-on-year and 7.9 percent from the previous month.
The index reflects inventory pressure for automobile dealers. It typically is lower than 50 percent when the market is healthy. It is composed of inventory, market demand, dealership finances and surveys of dealers purchases, sales and stocks.
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