Cui Dongshu: In March, the number of reduced-priced car models was 23, indicating a significant cooling trend in price reductions.

Cui Dongshu, the secretary general of the China Passenger Car Association, stated in an article that the promotional efforts to reduce prices of passenger cars will remain strong in 2025. In January, 7 models saw price reductions, followed by 21 models in February, and 23 models in March, which is relatively high compared to historical levels. However, it is a significant decrease from the 51 models in March last year, indicating a significant cooling of the price reduction trend. In March 2025, the average price reduction for new pure electric car models was 176,000 yuan, with a reduction of 17,500 yuan, representing a reduction of 9.1%. For plug-in hybrid models, the average price reduction was 179,000 yuan, with a reduction of 9,000 yuan, a reduction of 4.8%. The average price reduction for new fuel car models was 132,000 yuan, with a reduction of 7,800 yuan, a reduction of 5.5%. For new hybrid car models, the average price reduction was 140,000 yuan, with a reduction of 25,000 yuan, a reduction of 15.2%. For new extended-range car models, the average price reduction was 204,000 yuan, with a reduction of 24,000 yuan, representing a reduction of 10.5%. New energy vehicles have seen a lot of new models being introduced, leading to a repositioning of prices and aggressive promotions. In February 2025, promotions for new energy vehicles gradually reached a high of 11.5%, remaining stable compared to the same period. Conventional fuel cars are facing an aging trend and issues related to a declining population, resulting in a lack of opportunities for adjusting prices and improving product competitiveness, leading to heavy reliance on promotions. In March 2025, promotions for traditional fuel cars gradually decreased to 22.1%, with an increase of 3.7 percentage points compared to the same period, but only a 0.4 percentage point increase from the previous month. Overall, the price reduction tracking analysis and market promotion trends show a relatively steady performance in the passenger car market in 2025.Compared to fuel vehicles, the export proportion has increased, thus overall sales promotion is relatively stable.6. Track the promotion intensity of different power sources At the beginning of 2025, the promotion pressure for conventional gasoline vehicles and hybrid vehicles is relatively low, while the promotion for new energy vehicles is relatively intense. In particular, the promotion for plug-in hybrids fluctuates greatly, with a decrease of 2.8 percentage points compared to March of last year. Pure electric vehicles increased by only about 1.7 percentage points compared to March 2024 after the price reduction of extended-range models, which decreased by about 0.2 percentage points in March 2024. 3. Specific price reduction analysis for different vehicle models in March 1. Pure electric vehicle price reduction analysis In March 2025, the average price reduction of new pure electric vehicle models was 17.6 thousand yuan, with a magnitude of 1.75 thousand yuan and a price reduction intensity of 9.1%. The overall scale of price reduction for pure electric vehicles in March this year is also very large, especially with some models having price reductions of over 20%, combined with some model adjustment price reductions, the intensity is still remarkable. 2. Plug-in hybrid price reduction analysis In March 2025, the average price reduction of new plug-in hybrid vehicle models was 17.9 thousand yuan, with a magnitude of 0.9 thousand yuan and a price reduction intensity of 4.8%. The overall intensity of price reduction for plug-in hybrid models is relatively mild, but prices are gradually forming at the leading enterprise levels, which is an inevitable trend. 3. Gasoline vehicle price reduction analysis In March 2025, the average price reduction of new gasoline vehicle models was 13.2 thousand yuan, with a magnitude of 0.78 thousand yuan and a price reduction intensity of 5.5%. Due to the price reductions of some high-end models, the overall price reduction magnitude is relatively large. 4. Hybrid vehicle price reduction analysis In March 2025, the average price reduction of new hybrid vehicle models was 14 thousand yuan, with a magnitude of 2.5 thousand yuan and a price reduction intensity of 15.2%. Due to the price reductions of some high-end models, the overall price reduction magnitude is relatively large. 5. Extended-range vehicle price reduction analysis In March 2025, the average price reduction of new extended-range vehicle models was 20.4 thousand yuan, with a magnitude of 2.4 thousand yuan and a price reduction intensity of 10.5%. Due to the small-scale price adjustments of some medium to high-end models, the overall price reduction magnitude is relatively mild.