China Passenger Car Association & Anluqin: The new four modernizations index of passenger cars in April 2021 is 66.1

China Passenger Car Association & Anluqin: The new four modernizations index of passenger cars in April 2021 is 66.1

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.

The new four modernizations index of passenger cars in April 2021 was 66.1, a slight increase from 65.9 in March 2021. Among them, the electrification index was 10.1; the intelligence index was 53.1; and the networking index was 33.5.

By retrospectively calculating the new four modernizations index of passenger cars starting from April 2020, we can see the trend changes 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 in April 2021 was 10.1, a slight decrease from March 2021.

The intelligence index in April 2021 was 53.1, a slight decline compared to March 2021.

The connectivity index was 33.5 in April 2021, which continued to increase compared with March 2021.

In April 2021, the overall market sales of passenger cars decreased from March, but increased compared with the previous two years. According to the traditional seasonal sales rules of the Chinese auto market, April is a low season for sales, and it is normal for sales to generally decline compared with March. The overall market is stable and improving. Judging from the passenger car sales data in recent months, the overall market has returned to the pre-epidemic level. With the recovery of the overall market, the overall index of the new four modernizations has fluctuated slightly, but it has shown an upward trend.
In April 2021, the overall index of the new four modernizations remained basically the same. The electrification index fell slightly, but it was still above 10.0. In the new energy market, Tesla's brand was affected by the "brake gate" incident, and its sales fell significantly by 67.1% month-on-month; new car-making forces began to exert their strength and have become the backbone of the new energy vehicle market. The sales of new forces such as Weilai, Ideal, Xiaopeng, Hozon, and Leapmotor performed well year-on-year; from January to April 2021, the overall performance of new energy vehicles was significantly better than the overall situation of the auto market. Intelligence and networking have fluctuated with the overall market, but judging from the data, there is still a lot of room for improvement. It is expected that the second half of 2021 will be a blowout period for intelligence and networking.
Sales performance from January to April 2021: From the consumer side, the consumer demand for new energy vehicles is constantly increasing. Overall, the new energy vehicle market will show a good development trend this year, and the proportion of electrification will continue to increase. At the same time, the market and consumers are paying close attention to the Tesla brake door incident. The government and car companies will also increase their attention and gradually improve the laws and regulations on smart vehicles. Consumers will gradually pay more attention to the intelligence and networking of vehicles, and the importance of the intelligence and networking of vehicles will also increase in the future. Based on the performance of the overall market index and our prediction of the subsequent market, it is expected that the overall index of the new four modernizations index will increase in the second half of 2021 based on the improvement of intelligence and networking.

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