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CADA seeks international breakthrough amid market slowdown

Source: Economic Information Daily | Date: Nov. 5

  • The China Automobile Dealers Association (CADA) recently signed in Beijing a memorandum of understanding with the New Car Dealers Association of British Columbia (Canada) to strengthen mutual exchanges and cooperation at the area of auto sales. This marks a big move launched by CADA to seek international breakthrough amid a slowdown in growth of the Chinese auto market.

  • Statistics from CADA show that the VIA (Vehicle Inventory Alert Index) was 55.7% in China in Sept., hitting the alert line for 11 consecutive months. This signals that auto dealers are facing a great business pressure.

  • CADA President Shen Jinjun said that auto sales in China have entered a buyer's market, and that CADA expects to share advanced auto marketing experiences and business philosophies with the Canadian institution to further standardize the auto circulation industry. Through the partnership, Chinese dealers can draw lessons from international practices in dealing with inventories, smoothing over relationship with automakers, and running used car business to better cope with challenges facing them.