CRI听力:China's Car Dealers Suffering in 2014

China's car dealers are suffering heavily this year due to excess stock and shrinking market demand.

The China Automobile Dealers Association is reporting that only 30 percent of dealers posted a profit this year compared with 70 percent a year earlier.

CADA also says that car dealers' inventories were equivalent to 1.8 times of the monthly sales, far above the alert line of 1.5.

Automakers in China hold much power over dealers, as industry sales targets essentially obligate dealers to buy cars.

Meantime, while sales growth in the industry is up seven percent this year, that's a drop from last year's 14 percent.

Several car-makers and their Chinese joint ventures, including Toyota, Honda, and BMW, are expected to miss sales target this year.

For more on the car sales decline last year, we're now joined live with CRI Financial Commentator Cao Can.