China Passenger Car Association & Anluqin: The new four modernizations index of passenger cars in April 2020 is 53.8

China Passenger Car Association & Anluqin: The new four modernizations index of passenger cars in April 2020 is 53.8

The Passenger Car New Four Modernizations Index, jointly released by the Automobile Market Research Branch of the China Automobile Dealers Association (Passenger Car Market Information Joint Committee, referred to as the Passenger Car Market Information Joint Committee) and Shanghai Anluqin Enterprise Management Consulting Co., Ltd. (referred to as Anluqin), aims to regularly monitor the development progress of the new four modernizations in the domestic passenger car market and judge future development trends through historical data comparison.

The new four modernizations index of passenger cars in April 2020 was 53.8 , a slight increase from 53.7 in March 2020. Among them, the electrification index was 3.9 , the intelligence index was 42.7 , and the networking index was 25.3 .

By retrospectively calculating the new four modernizations index of passenger cars starting from April 2019, we can see the trend changes of the new four modernizations index of passenger cars in the past 13 months.

At present, the new four modernizations index of passenger cars has three sub-indices, namely electrification index , intelligence index and networking index .
The electrification index in April 2020 was 3.9 , a significant drop from March 2020.

The intelligence index in April 2020 was 42.7 , a slight increase compared with March 2020.

The connectivity index in April 2020 was 25.3 , the same as in March 2020.

The overall passenger car market in April 2020 has entered a state of post-epidemic recovery. Although year - on-year sales are still in negative growth, it has improved significantly compared with the epidemic period. Correspondingly, the development of the new four modernizations has gradually entered a normal development stage, and the overall new four modernization index has returned to normal levels. Among them, due to the substantial increase in demand for traditional fuel vehicles and the lack of full stimulation of private car purchase willingness for new energy vehicles, the electrification index has returned to the normal level of the second half of 2019 ( except December ) ; the intelligence index has also returned to the level of the fourth quarter of 2019 ; only the networking index has maintained a steady and slow upward trend, with a significant increase almost every 6 months.

In general, China's passenger car market is gradually entering the post-epidemic era. The overall impact of the epidemic on car sales is gradually weakening, but at the same time, the impact of the epidemic on consumers' car purchase demand is long-term. As far as the future development of the new four modernizations is concerned, it will enter a new adjustment cycle in the short term, and the new four modernizations index will fluctuate slightly within a certain range, especially the electrification index representing the development trend of the new energy market, which will fluctuate under the influence of favorable policies at all levels. In the long run, the development of the overall new four modernizations index urgently needs the stimulation of some disruptive technologies, products or business models to break consumers' purchasing decisions and usage behavior habits. Fortunately, before and after the epidemic, we can see that many vehicle companies have entered a state of self-disruption. The development of the new travel market will bring an easterly wind to the new four modernizations. Let us wait and see.

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