Analysis of Passenger Car Market Structure and Trends in the US

TapTechNews July 11th news, Cui Dongshu, the secretary-general of the Passenger Car Association, today released the 'Analysis of the Market Structure in the Passenger Car Price Segment in June' on his personal public account, pointing out that the sales structure trend of the national passenger car market price segment has continued to rise, the sales proportion of high-end models has increased significantly, while the sales proportion of medium and low-priced models has decreased, which is driven by consumption upgrading, and also because of the consumption upgrading of the replacement group. In 2024, the high-end characteristics of the car market consumption structure will be further strengthened.

Cui Dongshu said that the car market prices in recent years have shown a continuous upward trend, it was 142,000 yuan in 2019, 153,000 yuan in 2020, and the cumulative average this year is 179,000 yuan, and it is 186,000 yuan in June, 'the price of passenger cars is getting more expensive while decreasing'.

Analysis of Passenger Car Market Structure and Trends in the US_0

The main reason for the year-on-year increase in the car market price is that hybrid and extended-range have relatively high prices, forming a structural pull. The original fuel vehicles also show an increase in the average sales price, and the high-end of fuel vehicles drives a relatively large price increase.

In terms of the new energy penetration rate, the highest penetration rate is small cars, among which the penetration rate of mini-cars (TapTechNews note: A00-class cars) is 100%, the penetration rate of A0-class small cars will exceed 70%, and the penetration rate of Class A new energy vehicles has also increased rapidly. At the same time, the new energy penetration rate of Class B and Class C cars has increased significantly, reflecting the obvious advantage of high-end electrification and also the trend of the improvement of domestic brands.

Analysis of Passenger Car Market Structure and Trends in the US_1