CPCA: National Passenger Car Inventory Reaches 3.28 Million Units at the End of September, Up 120,000 Units Month-on-Month, Showing "Peak Season Stocking" Characteristics

Cui Dongshu, Secretary General of the China Passenger Car Association, stated in an article that as of the end of September 2025, the national passenger car industry inventory stood at 3.28 million units, an increase of 120,000 units from the previous month and an increase of 260,000 units from September 2024, showing the characteristic of stockpiling during the peak season. In April 2025, industry inventory reached 3.5 million units, a new high in nearly two years. The car market saw relatively high retail sales driven by trade-ins, but manufacturers were relatively cautious in production. From May to August, car companies were more rational in controlling production, reducing inventory pressure on dealers, resulting in continuous inventory reduction from May to August, with inventory rebounding in September 2025.