National auto market prices fell slightly in September
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Author: Xiaodong, NDRC Price Monitoring Center
According to the latest data 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 modest downward trends, reflecting ongoing market adjustments and competitive pricing strategies among manufacturers and dealers.
**Domestic Car Prices Showed a Mild Decline**
In September, the average price of domestically produced vehicles decreased by 0.29% compared to the previous month, maintaining the same rate of decline as the prior period. Year-to-date, domestic car prices have dropped by 3.01%. Passenger cars and commercial vehicles both saw price reductions, though the pace of decline varied.
The decrease in passenger car prices slowed down compared to the previous month. In August, passenger car prices fell by 0.70%, but in September, the drop narrowed to 0.18%, a reduction of 0.52 percentage points. Compared to the same period last year, passenger car prices were down 3.67%. Specifically, basic passenger cars and sports utility vehicles saw a 0.30% and 0.06% monthly decline, while minivans dropped by 0.20%.
Commercial vehicle prices remained volatile but generally declined. In September, commercial vehicle prices fell by 0.48% quarter-on-quarter, down from a 0.27% increase in August. Year-to-date, commercial vehicle prices have dropped by 1.88%. Among them, light commercial vehicles continued to fall slightly, with a 0.47% monthly decline and a 4.39% year-over-year drop. Light and large passenger cars fell by 0.55% and 0.41%, respectively. Meanwhile, truck prices fluctuated, with heavy trucks declining by 0.97% on a monthly basis, while light and medium trucks saw smaller drops of 0.34% and 0.22%.
**Imported Car Prices Continued to Drop**
For the second consecutive month, imported car prices fell, with the decline narrowing significantly compared to the previous period. The monthly drop was 0.19%, down from 1.84% in August. Year-to-date, imported car prices have fallen by 0.23%. Off-road vehicles saw a slight decrease, with a 0.50% monthly drop after a 1.37% rise in August. Their prices are now down 3.44% from the start of the year.
Meanwhile, the price of other imported vehicles had a mixed performance. While they fell by 4.04% in August, prices rebounded slightly in September, rising by 0.41% from the previous month. This suggests some stabilization in the import car market amid shifting demand and supply dynamics.