According to the information obtained from the Zhitong Finance and Economics APP, on April 28th, the China Passenger Car Association announced that the overall market product competitiveness index in March 2024 was 92.1, an increase of 1.5 points compared to the base period of January 2019. Looking at the three major segmented markets, the sedan and SUV markets increased by 2.2 and 0.8 points respectively compared to the previous period, while the MPV market decreased by 0.9 points.
Trend of the Overall Market Product Competitiveness Index
In March 2024, the wholesale volume of passenger vehicles was 2.195 million units, with double-digit year-on-year and month-on-month growth. Post-Spring Festival consumption recovery, rapid escalation of price wars among car companies, resulting in a clear consumer wait-and-see phenomenon, coupled with attention to some new cars and expectations for the old-for-new policy, led to a slow start in the automotive market this month, with an overall market heat increase of 0.1 point. Overall, the overall market product competitiveness index increased by 1.5 points compared to the previous month.
Trend of the Sedan Market Product Competitiveness Index
Overall, the sedan market product competitiveness index in March 2024 was 92.4, an increase of 2.2 points compared to the previous period. The product evaluation, pricing strength, user reputation, and market heat index all increased compared to the previous period, with increases of 3.2, 0.4, 0.2, and 0.1 points respectively.
Trend of the SUV Market Product Competitiveness Index
Overall, the SUV market product competitiveness index in March 2024 was 91.5, an increase of 0.8 points compared to the previous period. The product evaluation, user reputation, pricing strength, and market heat index all increased compared to the previous period, with increases of 1.1, 0.9, 0.6, and 0.1 points respectively.
Trend of the MPV Market Product Competitiveness Index
Overall, the MPV market product competitiveness index in March 2024 was 94.9, a decrease of 0.9 points compared to the previous period. Among them, the user reputation and product evaluation indicators increased by 1.6 and 0.4 points respectively, while the price competitiveness and market popularity indicators decreased by 5.1 and 0.2 points respectively.
<img src="https://imageproxy.pbkrs.com/http://img.zhitongcaijing.com/images/contentformat/4e6da3018b87acc6a43e21cb7351fd79.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/http://img.zhitongcaijing.com/images/contentformat/4e6da3018b87acc6a43e21cb7351fd79.jpg"/>
Note: Only the data from the past 12 months is retained, with January 2019 as the base point of 100%

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In March 2024, the passenger car market's product competitiveness index was 92.1, up 1.5 points from the previous period. Among them, the competitiveness index of sedans and SUVs increased by 2.2 and 0.8 points respectively, while the MPV market competitiveness index decreased by 0.9 points. The overall market product competitiveness increased by 1.5 points compared to the previous period. The product competitiveness index for sedans was 92.4, up by 2.2 points, the SUV market competitiveness index was 91.5, up by 0.8 points, and the MPV market competitiveness index was 94.9, down by 0.9 points

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China Passenger Car Market Competitiveness Index in March 2024 was 92.1, according to China Association of Automobile Manufacturers (CAAM)