China Passenger Car Association & Anluqin: The new four modernizations index of passenger cars in December 2019 was 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.

In December 2019, the new four modernizations index of passenger cars was 53.8, a slight decrease from 54.4 in November 2019. Among them, the electrification index was 6.1; the intelligence index was 40.2; and the networking index was 23.4.

By retrospectively calculating the new four modernizations index of passenger cars since December 2018, we can see the trend changes of the new four modernizations index of passenger cars in the past 12 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 was 6.1 in December 2019, a significant increase from November 2019.

The intelligence index in December 2019 was 40.2, a slight decrease from November 2019.

The connectivity index was 23.4 in December 2019, a slight decrease from November 2019.

Affected by unfavorable factors such as the early Spring Festival, the continuous rise in consumer prices, and the weak economic trend, the overall passenger car market showed a weak trend in December 2019. Although it increased by 11.1% month-on-month, it was still at a low level of month-on-month growth in previous years. Affected by this, the new four modernization index has continued its trend in recent months, maintaining a weak downward trend. Among them, networking has declined slightly, and intelligence has declined slightly. The development of new technologies has shown a short-term decline due to the influence of the overall market. Compared with the same period last year, the sales volume of new energy passenger cars has undergone structural changes. Coupled with the impact of the sluggish demand in the consumer market at the end of the year, there was a year-on-year growth of -17.4% in December, but due to the weaker overall market performance, the electrification index has risen sharply.

In 2020, affected by the Spring Festival and the epidemic, the development of the new four modernizations of passenger cars will face more challenges of uncertainties, and consumer demand will also shift from convenience and enjoyment to safety and health. How to understand consumer motivations and grasp the deep-seated consumer needs will become the primary issue facing automakers. In such a cold winter for the auto market, the strategic decision-making, background, reaction speed, and execution capabilities of automakers will become necessary skills for survival, and the new four modernizations will also usher in a new development path.

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