Cui Dongshu: Tracking of the Price Segments in the Passenger Vehicle Market in September 2025.

In September 2025, the passenger car market showed a strong trend, achieving a strong growth of 6% on a high base. The market below 150,000 yuan was relatively active, with small electric cars performing well, while high-end extended-range and plug-in hybrids performed weakly. The average price of passenger cars from January to September 2025 was 170,000 yuan, a decrease of 0.7 thousand yuan compared to 2024, with the average price in September being 168,000 yuan, a decrease of 0.4 thousand yuan compared to the same period. The prices of conventional fuel vehicles had been consistently rising in the previous period, leading to a clear shrinkage in the mid-to-low end market, while the high end shrinkage was slower, increasing from 150,000 yuan in 2019 to 183,000 yuan in 2023. In 2025, with the rapid shrinkage of high-end fuel vehicles, the average price from January to September decreased to 181,000 yuan, then rose back to 183,000 yuan in September, stabilizing the buying group of fuel car buyers. The average price of new energy vehicles had gradually decreased recently, from 184,000 yuan in 2023 to 171,000 yuan in 2024, and 160,000 yuan in 2025, with it being 158,000 yuan in September 2025, showing a significant price decrease, reflecting the active consumption of new energy vehicles. As the tax exemption policy for car purchases is approaching its end, the new energy vehicle market is booming. With the upgrading of the technical indicators for tax-exempt new energy vehicles, some short-range and high-energy consumption models are facing pressure for redesign. Some brands may rush to promote sales to achieve annual goals, while some car companies may compete in the market through technical upgrades (such as 800V high-voltage platforms, high energy density batteries) rather than simply reducing prices, maintain the end price system, reduce market internal competition at the end of the year, and achieve sustainable growth. 1. The gradual return of passenger car prices The main factor affecting price changes is the impact of structural changes. In recent years, the average price of the car market has shown a continuous upward trend. The retail average price of passenger cars in 2019 was 151,000 yuan, rising to 183,000 yuan in 2023, 177,000 yuan in 2024, and 170,000 yuan from January to September 2025, a decrease of 7,000 yuan compared to 2024, with the average price in September being 168,000 yuan, down by 4,000 yuan compared to the same period. The prices of conventional fuel cars had been consistently rising in the previous period, leading to a clear shrinkage in the mid-to-low end market, while the high end shrinkage was slower, increasing from 150,000 yuan in 2019 to 183,000 yuan in 2023. In 2025, with the rapid shrinkage of high-end fuel vehicles, the average pric...