China's auto deals galore due to high inventory（在线收听）

Year-end and year-begining are traditional sales peak season for vehicles. And this time, the promotion is even on a larger scale. High inventory level and a tie-in sales mode are the reasons. 

It may be good news for vehicle buyers, but not such a happy story for car sellers. The deals are larger than ever, some cars are even selling at prices lower than car dealers' buying prices. 

Models ranging from affordable vehicles to luxury cars are all going on sale. This Jaguar Land Rover is discounted by as much as 30 percent, that is some 370 thousand yuan cheaper than its original price. 

"Producers made us sell them all. They would give you a bonus to cover the losses. This is normal practice these days," says a car dealer.

But showrooms are not being packed, as car purchase restriction in first tier cities like Shenzhen and Beijing drag down sales and build up inventory level. 

New cars are gathering dust. The high inventory is partly a result of the tie-in sales mode imposed by car makers. Car dealers are forced to buy in less popular car models when they purchase cars from automakers.

Data from the China Automotive Industry Association shows, inventory increased 350 thousand units in 2014 from a year earlier-- an astonishing 30 percent surge. 

A salesperson says, stock buildup pushes up selling costs-- given that parking rental, loans and maintenance fees could be nearly 10 thousand yuan per car.