National auto market prices fell slightly in September
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Author: Xiaodong, Price Monitoring Center, NDRC
According to the latest monitoring report from the National Development and Reform Commission (NDRC) Price Monitoring Center, car prices in 36 major and medium-sized cities across China saw a slight decline in September. Both domestic and imported vehicle prices experienced a marginal drop, reflecting ongoing market adjustments and competitive pricing strategies among dealers.
**Domestic Car Prices Show a Mild Decline**
In September, domestic car prices dropped by 0.29% compared to the previous month, maintaining the same rate of decline as in the prior period. Since the start of the year, overall domestic car prices have fallen by 3.01%. Passenger cars and commercial vehicles both saw price reductions, though the pace of decline for passenger cars slowed down.
The decline in passenger car prices eased significantly. In August, the monthly decrease was 0.70%, but in September it dropped to 0.18%, representing a 0.52 percentage point reduction from the previous month. Compared to the same period last year, passenger car prices were down 3.67%. Specifically, basic and sports passenger cars fell by 0.30% and 0.06% respectively, while minivans saw a 0.20% decrease.
Commercial vehicle prices remained volatile. In September, the quarterly decline increased from 0.27% in August to 0.48%, marking a more pronounced drop. Year-to-date, commercial vehicle prices have fallen by 1.88%. Passenger car prices continued their downward trend, dropping 0.47% from the previous month and 4.39% from the beginning of the year. Light and large passenger cars fell by 0.55% and 0.41% respectively. Truck prices fluctuated, with a 0.78% increase in September, although they were still down 0.49% compared to the previous month. Year-to-date, truck prices rose by 2.52%, with light, medium, and heavy trucks decreasing by 0.34%, 0.97%, and 0.22% respectively.
**Imported Car Prices Continue to Drop**
Imported car prices declined for the second consecutive month in September, with the rate of decline narrowing significantly. The monthly drop fell from 1.84% in August to just 0.19%, and year-to-date, prices have decreased by 0.23%. Off-road vehicle import prices saw a small drop, falling from a 1.37% rise in August to a 0.50% decline in September, representing a 3.44% decrease since the start of the year. Meanwhile, general imported car prices had fallen by 4.04% in August, but rebounded slightly in September, rising 0.41% from the previous month.