China's vehicle inventory alert index down in December 2023

BEIJING, Jan. 7 (Xinhua) -- China's vehicle inventory alert index, which reflects the inventory pressure on automobile dealers, declined 6.7 percentage points month on month in December last year, industrial data showed.

The index stood at 53.7 percent last month, down 4.5 percentage points from a year ago, according to the China Automobile Dealers Association.

A higher reading indicates weaker market demand, higher inventory pressure, and greater risks.

The association attributed the month-on-month decline to the unleashed market demand at the end of the year.

The sub-index for inventory declined, while sub-indexes for market demand, average daily sales, employee, and operating conditions rose month on month.