Passenger Link Branch: The passenger car market product competitiveness index for October 2024 was 90.3

The Zhitong Finance App learned that on November 26, the Passenger Link Branch announced that with January 2019 as the base period, the overall market product competitiveness index for October 2024 was 90.3, up 0.3 points from month to month. Judging from the three major market segments, the car and MPV markets both rose month-on-month, with increases of 0.4 and 1.2 points respectively, while the SUV market remained unchanged month-on-month.

Overall market product competitiveness index trend

In October 2024, the wholesale volume of passenger cars was 2.732 million units, a record high in each month of the year, with year-on-year and month-on-month growth; as the national end-of-life renewal policy and local trade-in policies were fully implemented in October, strongly boosting the growth of the car market, compounding the “Eleventh” Golden Week effect, the overall market price strength increased 0.3 points month-on-month; overall, the overall market product competitiveness index increased 0.3 points month-on-month.

Note: Retain only the last 12 months of data, 100% as of January 2019

Trends in the product competitiveness index in the car market

Overall, in October 2024, the product competitiveness index in the sedan market was 86.3, up 0.4 points from month to month. Among them, product evaluation indicators increased 1.2 points month-on-month, user reputation and market popularity indicators fell 0.4 and 0.1 points, respectively, while the price strength index remained unchanged from month to month.

Note: Retain only the last 12 months of data, 100% as of January 2019

The trend of product competitiveness index in the SUV market

Overall, in October 2024, the SUV market product competitiveness index was 91.8, which remained unchanged from month to month. Among them, price strength, product evaluation, and user reputation indicators all increased month-on-month, with increases of 0.3, 0.2, and 0.1 points, respectively, while the market popularity index fell 0.7 points month-on-month.

Note: Retain only the last 12 months of data, 100% as of January 2019

MPV market product competitiveness index trend

Overall, in October 2024, the MPV market product competitiveness index was 96.9, up 1.2 points from month to month. Among them, product reviews, user reputation, and market popularity indicators all increased month-on-month, with increases of 3.4, 2.7, and 1.1 points, respectively; while the price strength index fell 3.8 points month-on-month.

Note: Retain only the last 12 months of data, 100% as of January 2019