CPCA Sub-Association: In January 2025, the national new four modernizations index for passenger vehicles is 48.0.

On February 28, the China Passenger Car Association, in collaboration with Shanghai Anluqin Enterprise Management Consulting Co., Ltd., jointly released the Passenger Car New Four Modernizations Index. The data shows that the index for January 2025 is 48.0. The electrification index is 41.5, the intelligence index is 4.3, and the networking index is 26.1. Affected by the overall market performance during the Spring Festival holiday, the new energy market also saw a significant decrease month-on-month. Except for the intelligence index, all other indices have been lowered. In the next 11 months, with the launch of more heavyweight new energy vehicle models and the improvement in sales performance of popular models, the indices are expected to return to the high levels of the previous year and may even reach new highs. By tracing back the Passenger Car New Four Modernizations Index from January 2024, we can see the trend of the index for the past 13 months. Currently, the Passenger Car New Four Modernizations Index consists of three sub-indices: electrification index, intelligence index, and networking index. In January 2025, the electrification index was at 41.5, the lowest level in nearly 10 months. In January 2025, the intelligence index was at 4.3, unchanged from the previous month. In January 2025, the networking index was at 26.1, a slight decrease from the previous month. In January 2025, the retail sales of passenger cars were 1.794 million, a year-on-year decrease of 12.1% and a month-on-month decrease of 31.9%. Of these, the retail sales of new energy vehicles were 744,000, a year-on-year increase of 10.5% and a month-on-month decrease of 42.9%. In January, the sales of passenger cars decreased by 12.1% compared to the same period last year, with the new energy market increasing by 10.5% year-on-year. However, due to the relatively low absolute sales volume, the electrification index has significantly dropped compared to the second half of last year.