The New Index Aims to Provide Auto Industry and Public with Latest Prices and Trend Analyses
BEIJING: 12 October 2017 — J.D. Power, the global leading market research and data analytics institution, announced today its collaboration with the China Automobile Manufacturers Association (CAAM) in launching the country’s first comprehensive industry-wide passenger vehicle price index—China Passenger Vehicle Market Price Index.
Initially, this new price index will cover 18 provinces across the entire country, representing approximately 80% of China passenger vehicle market sales. Main data for these provinces will originate from related provinces’ 4S dealerships new vehicle retail transaction price samples. Simultaneously, this index will include retail sales volume, market segmentation/brand/model mapping and relevant historical data. Starting from October 2017, this index will be released on a monthly basis, covering all key segments of mass-market and luxury markets.
"We are very happy to work with J.D. Power, a respected and independent third party market research institution, in launching this price index,” said Shi Jianhua, Deputy Secretary General of the China Automobile Manufacturers Association. “We are hoping such an authoritative price index not only will generate a positive impact to China’s automotive industry, but also be able to achieve good commercial value. This is the first step for our bilateral formal cooperation and in the future move forward to commonly build and share industry data resources by sustainably pushing forward the development of China's auto industry."
"With our strong relationship with the China Automobile Manufacturers Association industry authority, we hope to utilize J.D. Power’s data analysis domain superiority and rich industry study experience to provide this authoritative industry index and analysis reports to various participating and interested parties within the automotive industry,” said Dr. Mei Songlin, Vice President and Managing Director of J.D. Power China. “We hope this new price index can become one of the most important references for automakers, dealers, auto finance companies and commercial banks in the future when making and executing business decisions. We also expect this to become a model and milestone for the cooperation between J.D. Power and CAAM."
The China Automobile Manufacturers Association (CAAM), founded in 1987, is a self-disciplined non-profit social organization, legally constituted based on equality and voluntary principles by enterprises, institutions and organizations involved in automobiles (motorcycles), auto parts and vehicle-related industries productions and operations in China. The association currently has nearly 2,700 members and after nearly thirty years of development, it has evolved as an indispensable important force in promoting a healthy and sustainable development to the country’s automotive industry.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. Those capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power is headquartered in Costa Mesa, California, and has offices in Shanghai, Beijing, Tokyo, Singapore, Malaysia and Bangkok serving the Asia Pacific region. Through continuous efforts developing highly efficient data analysis solutions such as "Power Information Network (PIN)", J.D. Power helps automakers and dealerships make informed business decisions, conducting business management efficiencies and streamlined operations in a more scientific way to further accelerate sales and increase profitability.
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