China Passenger Car Association & Anluqin: The new four modernizations index of passenger cars is 84.4 in July 2023

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, abbreviated as PCCA) and Shanghai Anluqin Enterprise Management Consulting Co., Ltd. (abbreviated 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 July 2023, the new four modernization index of passenger cars was 84.4, of which the electrification index was 34.7, the intelligence index was 52.1, and the networking index was 66.3.

By retrospectively calculating the new four modernizations index of passenger cars starting from July 2022, we can see the changes in the trend of the new four modernizations index of passenger cars in the past 13 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 34.7 in July 2023, continuing its upward trend.

The intelligence index in July 2023 was 52.1, a slight decline from the previous month.

The connectivity index in July 2023 was 66.3, basically the same as the previous month.

In July 2023, the retail sales of the passenger car market was 1.775 million units, a decrease of 6.3% month-on-month, of which the retail sales of new energy passenger cars was 641,000 units, a decrease of 3.6% month-on-month.

In July, the overall passenger car market sales volume narrowed slightly compared with June. Although the retail sales volume of the new energy market also declined month-on-month, the decline was smaller than that of the overall market, which also pushed the electrification index of this month to continue to climb upward. At the same time, affected by the significant reduction in sales of several heavyweight models such as Tesla Model Y and Model 3, BYD Song Pro, etc. in July, this month's intelligence index and networking index did not continue the rapid upward trend of the previous few months. The overall situation was basically the same as last month, and there were no detailed changes.

Note: With the rapid development of the new four modernizations market, in order to better measure the development progress with the new four modernizations index, we will set medium-term development goals according to the characteristics of each index. When a certain index reaches the medium-term development goal, we will improve the measurement standard of this index. Continuously improve the new four modernizations index for the market dynamic monitoring system.

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