China's auto prices will continue to decline steadily in the second half of the year

The National Development and Reform Commission’s latest monitoring of 36 large and medium-sized cities across the country showed that overall prices in the national auto market remained stable in June. It is expected that the automobile prices will gradually release with the second half of the year, and the trend of steady decline will continue.

According to the China News Service, according to the latest monitoring conducted by the National Development and Reform Commission's Price Monitoring Center in 36 large and medium-sized cities throughout the country, the national automobile market prices remained stable overall in June this year, and the prices of domestic and imported cars fluctuate steadily. It is expected that the automobile price will gradually release with the gradual release of production capacity in the second half of the year.

The results of authoritative monitoring showed that the price of Chinese-made cars in June was unchanged from that of the previous month, which was a 1.18% decrease from the same period of last year. The price of passenger cars went down for two consecutive months and the price stabilized, which was 1.41% lower than the same period of last year. In the same period, the prices of imported cars dropped from the higher to the lower, which was a month-on-month decrease of 0.33% from the previous month to a decrease of 0.37%, which was a 0.47% decrease from the same period of last year.

According to analysis by the National Development and Reform Commission price monitoring center, the current inventory pressure of the manufacturers is not very high. Although the sales volume in the second quarter has declined, the manufacturers have not reduced their production capacity. Therefore, the market will not have a large gap between supply and demand. In addition, there will not be much increase in car sales in the third quarter of this year. In order to complete the sales target, manufacturers will have a sharper price cut in the fourth quarter, and the demand for the auto market will be further released.