Passenger Vehicle Inventory Hits 3.48 Million; Market Optimism Drops to Historic Low of 31%

CPCA Secretary Cui Dongshu stated that May 2026 end-month passenger vehicle industry inventory was 3.48 million units, with manufacturer inventory at 30.3%—relatively high. The team's optimism for June dropped to 31%, a historically low prediction index. High oil prices and weak consumption are main drivers.