China Automobile Dealers Association: The automobile consumption index for March was 71.5, a slight decrease from the previous month.

On April 1, 2025, the China Automobile Dealers Association released the latest issue of the "Automobile Consumption Index": the automobile consumption index in March 2025 was 71.5, a slight decrease from the previous month, but the decrease was not significant. It is expected that sales in April will remain relatively stable compared to March or may slightly decrease. Car consumption index trend chart In April, the automobile market faces a complex situation with various factors intertwined. From the demand side, three major factors may constrain sales growth: first, at the end of March, dealers carried out promotional activities to meet quarterly assessments, resulting in the early consumption of some demand; second, the busy spring farming season has led to a temporary weakening of car purchase demand in rural markets; third, the traditional Qingming Festival customs have caused some consumers in certain regions to buy cars earlier or postpone their purchases. However, the market also has multiple positive factors: the peak travel season in spring driving demand for family cars, the approaching May long holiday further stimulating consumer willingness to buy cars, the recent launch of many new car models, a significant decrease in prices for smart driving models, significantly increasing product attractiveness, coupled with spring car exhibitions in various regions and the upcoming Shanghai International Auto Show at the end of April injecting new vitality into the market. Comprehensive analysis shows that with the combined effects of positive and negative factors, it is expected that automobile sales in April will remain relatively stable or slightly decrease compared to March, but there are still significant structural opportunities in the market, with new energy and intelligent vehicle models likely to maintain their growth momentum. Demand sub-index: Looking at the sub-indices that make up the automobile consumption index, the demand sub-index in March 2025 was 71.8, slightly lower than the previous month. In April, the consumption demand in the automobile market showed structural differentiation: on one hand, due to the dealer promotions at the end of March, busy spring farming, and the influence of Qingming customs in some regions, some car purchase demands were suppressed; on the other hand, spring outings and the upcoming May holidays driving an increase in car usage demand, combined with the launch of many new car models, have stimulated new consumer willingness to purchase. Car consumption index - Demand sub-index Store entry sub-index: The store entry sub-index in March 2025 was 75.1, slightly lower than the previous month. In April, store traffic will show regional and structural differences, with a decrease in traffic in rural areas due to spring farming, while at urban car exhibitions, store traffic is active. Large events like the Shanghai Auto Show bring significant crowd gathering effects, while the continuation of replacement subsidies and the launch of new cars will continue to drive specific groups of people to enter stores. Car consumption index - Store entry sub-index trend chart Purchase sub-index: The purchase sub-index in March 2025 was 69.7, lower than the previous month. Overall, the release of travel demand will drive sales growth, with upgraded products on one hand stimulating new consumption demands, and on the other hand, the extended delivery cycles due to the climbing production capacity of new products temporarily constraining volume sales. It is expected that the automobile market in April will demonstrate characteristics of "stable volume adjustment and structural optimization". Car consumption index - Purchase sub-index trend chart The consumer environment in the automobile market in April is conducive to stable sales: firstly, the smooth implementation of the "two new" policies in the automobile industry continues to drive continued consumer vitality; secondly, the recent launch of many new car models, with smart driving models seeing price decreases, has significantly increased the attractiveness of new products, attracting consumers to enter stores; in addition, many regions have started spring car exhibitions, with the Shanghai International Auto Show in late April attracting consumer attention. In terms of consumer demand and willingness to purchase, there are structural differences in demand in April: on one hand, at the end of March, dealers carried out promotional activities to meet quarterly assessments, resulting in the early consumption of some demand, and in April, spring farming busy seasons in many regions and the influence of Qingming customs in some areas affect the release of some car purchase demands; on the other hand, April is the peak season for travel and outings, combined with the approaching May holidays, driving the increase in travel-related car purchase demands. In conclusion, it is expected that the automobile market in April will demonstrate the operational characteristics of "structural differentiation of demand, intertwining of traditional off-season and seasonal demand release", with overall market sales expected to remain stable, with slight adjustments compared to March.