Cui Dongshu: By the end of January 2026, the inventory of passenger vehicles in the country was 3.57 million units, with an inventory turnover of 70 days.

On February 25, Cui Dongshu, Secretary-General of the China Passenger Car Association, stated that by the end of January 2026, the nationwide inventory of passenger vehicles reached 3.57 million units, a decrease of 80,000 units from the previous month, and an increase of 580,000 units compared to January 2025, forming a characteristic of high inventory operation. The inventory at the end of January 2026, combined with the existing inventory to support future sales days, is 70 days, compared to 65 days in January 2023, 70 days in January 2024, 48 days in January 2025, and a relatively large overall inventory pressure in January of this year. Looking at the characteristics of inventory changes in companies producing only new energy vehicles, with the promotion of anti-industrial concentration, industry inventory decreased to 620,000 units in September and increased to 720,000 units in January 2026, a decrease of 160,000 units from the peak inventory, but an increase of 60,000 units from December. Recently, new energy dealers face lower-than-expected market inventory pressure from manufacturers and channels, and overall industry inventory pressure is relatively high.