Recently, China Automobile Dealers Association released the latest statistics show that in October the national used car market volume of 1,711,500 units rose by 3.2% compared with the year-on-year growth of 6.37% to achieve double growth.
In the first 10 months of this year, the cumulative volume of national used car transactions amounted to 15,928,300 units, the cumulative transaction amount of more than 1 trillion yuan, it is expected that this year, China’s second-hand car market transactions are expected to break the record in 2023.
Used car sales hit record high in October
Sedans are the hottest sellers
VAT invoice data released by the State Administration of Taxation (SAT) showed that national used car sales during the National Day holiday achieved a 65.9% year-on-year increase, reaching the highest level ever.In fact, the volume of used car transactions during the month also set a new high for the year.
One of the reasons for the rapid growth of used car replacement is the continuous increase in the subsidy policy for car replacement and renewal around the world.
According to dealer feedback, the average used car replacement source grew about 30% in October, and the number of quality sources continued to increase.Data show that in October, the used car manager index for the first time this year to enter the boom range, the boom continues to improve.
Specifically:
👉 From the point of view of trading models, sedans were the hottest-selling models in the used car market in October, with 57.2% of the trading volume; SUVs and MPVs accounted for 13.6% and 6.4% of the trading volume, respectively.Among them, MPV increased by 6.37% year-on-year, and the trading volume of SUVs increased by 10.8% year-on-year, which is the only segment with a growth rate of more than 10%.
👉 From the perspective of vehicle age structure, from January to October, used cars aged 3-6 years had the largest number of transactions, accounting for 47.1% of the total, an increase of 4.3% compared with the same period last year; models aged 7-10 years accounted for 17.6%, a decrease of 3.3% compared with the same period last year.the same period last year by 3.3%.
👉 In terms of transaction prices, the average price of a used car transaction was 65,300 yuan in October, an increase of 0.12 million yuan from September and 0.07 million yuan from the same period last year.Since the third quarter of this year, the average price has been fluctuating around 65,000 yuan.
New Energy Used Vehicles Growing Rapidly
Sales are expected to exceed one million units
According to industry data, this year’s sales of new energy used cars are expected to exceed one million units.
Data show that in the first 10 months of this year, a total of 894,000 new energy used cars were traded nationwide, a year-on-year increase of 51.7%, which is the fastest-growing segment of the used car market.
Among them, the national new energy used car transaction volume in October was 104,200 units, up 36.2% year-on-year, and the transaction volume exceeded 100,000 units for two consecutive months.
In October, SUVs accounted for 27.8% of new energy used car transactions, while compact cars accounted for 20.6%.
Overall, the share of MPVs, SUVs and B-grade medium-sized sedans in new energy used car transactions in the month increased compared with the previous month, while A00-grade and A0-grade small and medium-sized models declined more significantly.
The reporter understands that the steady growth of new energy used car trading volume is not unrelated to the increasingly perfect new energy used car circulation system.
Previously, information opacity and incomplete data are important factors plaguing the development of new energy used cars, mainly in the new energy vehicle testing and evaluation, used car trading, maintenance services and other aspects of the lack of service standards, big data applications, professional testing equipment, resulting in consumers difficult to understand the true state of the vehicle.
Aftermarket Business Department of China Automotive Research Automotive Technology Development Tianjin Co., Ltd, Wang Fafu told reporters that in order to enable consumers to better understand the vehicle battery capacity, safety, health and other information, technically you can take the application of big data and professional equipment to support the acquisition of information.
“Unlike traditional fuel vehicles, new energy vehicles belong to the data terminal attributes, in the process of daily use in real time, non-stop generation of data information, which will be transmitted to the host plant, the host plant will also be transmitted to the national relevant platform in accordance with certain standards, the use of big data equipment assessment, can solve the problem of new energy vehicle value assessment and the health of the power battery is not transparent.”Wang Fafu said.
Used car exports to grow sharply
Export system to be improved
According to industry forecasts, this year, China’s used car exports will exceed 400,000 units, a substantial increase in last year’s 270,000 units on the basis of the
Xiao Zhengsan, president of the China Automobile Circulation Association, told reporters that factors such as the complexity of the export procedures for used cars and the high cost of logistics will affect the export business of used cars, and that there is a need to strengthen the top-level design and improve the export system.
In order to further improve the relevant services, relevant measures have been introduced around the world.
On November 11th, Shanghai issued “Several Measures to Promote Used Vehicle Exports in Shanghai”, which proposed.
Promoting the construction of functional carriers such as used car information platforms, pricing centers and assessment centers, forming a virtuous cycle between used car exports and domestic used car transactions, and creating an internationally oriented used car export system.Among them, in terms of building an international used car export system, enterprises are encouraged to support the construction of an overseas maintenance service system through self-built, resource sharing or multi-channel cooperation to ensure the supply of spare parts through multiple channels; and automobile manufacturers are guided and encouraged to strengthen cooperation with distribution enterprises to share overseas marketing networks and after-sales service networks.
In the first half of this year, Beijing issued the Beijing Work Program for Promoting the Export of Used Vehicles.
Relevant enterprises are required to focus on brand reputation, implement the main responsibility, improve the service guarantee system, and accelerate the formation of a prosperous situation of diversified subjects, market diversification and commodity standardization in the export of used cars.
In addition, the relevant declared enterprises need to operate legally and in accordance with rules and regulations, in line with the laws and regulations on safety production, environmental protection, taxation, customs and foreign exchange management, with no unrectified illegal behaviors and no serious breach of trust.
Xiao Zhengsan said that since 2019, China’s used car exports from the initial groping stage to today has established a large used car export team and a set of primary export system, the export volume has increased year by year, and the export models have become more and more diversified, from the traditional fuel vehicles to new energy vehicles have been generally favored by the international market.
On this basis, the industry should sort out the problems in the process of exporting used cars in a timely manner to enhance the overall development of China’s used car market.
Article source: China Consumer News·China Consumer Network
