China's Used Car Sales Rise 2.3% to 8.1 Million as Used NEVs Jump 25.7%
Updated
Updated · China Daily · Jul 20
China's Used Car Sales Rise 2.3% to 8.1 Million as Used NEVs Jump 25.7%
1 articles · Updated · China Daily · Jul 20
Summary
8.1 million used cars changed hands in China from January to May, generating 531.37 billion yuan, while new passenger-car retail sales fell more than 20% to 8.15 million units.
685,400 secondhand NEVs were sold, up 25.7%, as halved purchase-tax incentives made new NEVs costlier while used NEVs kept a tax exemption that widened their price advantage.
June's nationwide one-certificate transfer policy further eased cross-city and interprovincial deals by letting buyers complete ownership changes with only an ID card and online record transfers.
82 models cut prices in the first five months of 2026, pushing NEV depreciation to 12.5% and fuel-car cuts to 14.6%, squeezing dealer margins and dragging three-year EV resale values down to 45.2%.
CADA still sees second-half growth potential as trade-in programs feed more vehicles into the market, China's 360 million-vehicle fleet expands supply, and used cars remain just 6% of the parc.