Cui Dongshu: The prices of conventional fuel vehicles continue to rise, while the average price of new energy vehicles has been gradually decreasing recently.

On April 13, Cui Dongshu, Secretary-General of the China Passenger Car Association, stated that according to the association's data, the retail sales of passenger cars in March were 1.94 million, an increase of 14% year-on-year and 40% month-on-month. Cumulative retail sales since the beginning of the year reached 5.12 million, a 6% increase year-on-year. The retail sales in March were historically high for the month of March, showing a strong market performance. In March, the retail sales of new energy passenger cars reached 990,000, an increase of 38% year-on-year and 45% month-on-month; cumulative retail sales for January to March reached 2.42 million, a 36% increase. The prices of conventional fuel vehicles continue to rise, causing a significant contraction in the mid-to-low-end market, while the contraction in the high-end market is slower. On the other hand, the average price of new energy vehicles has gradually decreased, reaching 156,000 yuan in March 2025, reflecting an active consumption in the new energy vehicle market. 1. The lower the price of passenger cars, the more expensive they become The main factor affecting price changes is the impact of structural changes. In recent years, the average price of cars has been continuously increasing. The average retail price of passenger cars in 2019 was 151,000 yuan, rising to 183,000 yuan in 2023, dropping to 177,000 yuan in 2024, and averaging 170,000 yuan in January to March 2025. Only in shrinking markets will the average price continue to rise. The prices of conventional fuel vehicles continue to rise, resulting in a significant contraction in the mid-to-low-end market. The average price of new energy vehicles has been gradually decreasing, from an average of 184,000 yuan in 2023, dropping to 171,000 yuan in 2024, and currently averaging 156,000 yuan in March 2025. The decrease in prices reflects the active consumption in the new energy vehicle market. The average selling price of passenger cars has been on the rise in the past few years, and the downturn in the market has led to a decrease in average prices, as there has been a significant increase in sales in the mid-to-low-end sector driven by the scrappage renewal and trade-in subsidy policies since the second half of 2024. The decline in average prices is conducive to the overall development of the market, promoting the popularization and increase in scale of the car market, as the penetration rate of new energy vehicles remains high. The average selling price in spring break in 2025 decreased to 180,000 yuan, then rebounded to 183,000 yuan in March. This decline may be attributed to the decrease in car purchases in the mid-to-low-end segment during the COVID-19 pandemic. The structure of sales in the price segments of the national retail market in recent years has been rising continuously, with a significant increase in sales of high-end new energy vehicles and a decrease in sales of low-priced vehicles. The percentage of vehicles priced below 50,000 yuan has been increasing from 2021 to 2022 compared to 2020, mainly due to the increase in sales of micro electric vehicles. However, starting from 2023, the percentage has been decreasing again. The sales of vehicles priced between 5,000 and 15,000 yuan have declined compared to the growth of new energy vehicles, but the trend of increase still exists. The market share of vehicles priced between 15,000 and 20,000 yuan is continuously increasing at a faster rate. The market share of vehicles priced between 20,000 and 30,000 yuan was 17% in 2024, and is 15% this year, which is relatively stable. The percentage of vehicles priced above 30,000 yuan in various categories has been increasing steadily in recent years, but began to decrease in 2024, with a significant decrease in 2025. The breakthrough of independent high-end vehicles reflects a clear trend of high-end development brought by the growth of new energy passenger vehicles, but the decline in traditional luxury vehicles is a more serious trend. The premiumization trend indicates that the consumer population is not strong in regular consumption, and the general consumer market is weak, while the high-end consumer market is strong, leading to an overall weaker car market. The sales distribution structure of passenger vehicles in recent years has shown that the penetration rate of new energy vehicles is highest in microcars, with a penetration rate of 100% in March, A0 compact cars reaching 66%, and A-type new energy vehicles increasing rapidly with a penetration rate of 37%. The penetration rate of new energy vehicles in B-segment cars has slowed, with plug-in hybrids showing average performance. The penetration rate of new energy vehicles in C-segment cars has increased significantly, reflecting the advantages of high-end electrification. The sales structure of new energy vehicles in pure electric vehicles has shown continuous high growth in domestic retail sales, with plug-in hybrids showing outstanding performance in the past three years, while extended-range vehicles have shown modest growth. Sales of traditional passenger vehicles have been under continuous downward pressure. The market structure of various power types in 2024 shows that the core mainstream market for passenger cars priced between 100,000 and 300,000 yuan is characterized by a higher proportion of traditional fuel vehicles. The differences between traditional and new energy vehicles are significant, and the structure in the plug-in hybrid segment is relatively concentrated. In March 2025, the sales structure of internal power in various price segments shows an uneven distribution. Pure electric vehicles perform strongest in the market below 50,000 yuan, while extended-range electric vehicles perform best in the high-end market, and hybrid vehicles perform relatively well in the 200,000-300,000 yuan range. Traditional fuel vehicles perform relatively well in the 150,000 to 200,000 yuan range, and are also strong in the market above 300,000 yuan, forming differentiated distribution characteristics, especially in the narrower distribution of hybrid vehicles, which are mainly products in the mid-to-high price range. Plug-in hybrids are mainly mainstream models, with excellent performance in the 100,000 yuan range. The low-end market has seen significant improvement since the beginning of the year, indicating good consumption and significant growth in the low end. Changes in product market share for various types of automotive companies in 2025 show that the average price of luxury cars in January to March is 367,000 yuan, an increase of 10,000 yuan compared to 2024; joint venture brands remain at 173,000 yuan, unchanged from 2024; new forces are at 233,000 yuan, a decrease of 38,000 yuan from 2024; independent car companies are at 120,000 yuan, an incDecrease of 7,000 yuan in 2024.In 2025, independent brands performed very well, with a comprehensive push for new energy vehicles. Both pure electric and plug-in hybrid vehicles performed well. Overall, high-end hybrid vehicles performed poorly, and the new forces saw significant structural fluctuations. Extended range vehicles performed well, with the pure electric market gradually strengthening and collectively diverting the gasoline vehicle market. In March, independent gasoline vehicles accounted for 40% of the independent market share.