Cui Dongshu, Secretary General of the Passenger Transport Federation, issued an article on April 14 saying that currently there are not many passenger car models that have been reduced in price until March, mainly new energy vehicles. There was also some follow-up with fuel vehicles in late March, but it is still normal. The scale of price cuts in the first quarter of 2024 has already exceeded 60% of the whole of 2023, which is equivalent to the total scale of price cuts in 2022. The price reduction is mainly affected by new energy models such as pure electric and plug-in hybrid vehicles. There is very little price reduction for fuel vehicles. Judging from the pace of price cuts, the price cuts in 2023 are generally relatively balanced, but the 2024 price cuts reached a strong level in February and March. Prices of 27 models were cut in February and 37 models were cut in March, which is also an amazing level compared to history.