China Automobile Dealers Association: The national used car market transaction volume in October was 1.7115 million vehicles, an increase of 3.20% compared to the previous month.

volume5.62%8.24%64.522.18%3.92%269.185.78%7.59%261.363.50%6.96%128.572.72%5.81%75.191.83%4.13%38.62 10The overall volume has increased. In the economically developed regions of East China and Central South China, the volume of second-hand car transactions is relatively high and maintains stable growth; the volume in North China and Southwest China is relatively slightly lower; although the volume in Northeast and Northwest China is low, the growth rate this month is relatively high, showing a good momentum of recovery.In the eastern region, the volume of second-hand car transactions was 491,400 vehicles, an increase of 2.59% compared to the previous month, with an increase of 12,400 vehicles. Specifically, the market activity in Jiangxi province has significantly increased, with a growth rate of over 10%, making it the fastest growing province in the eastern region this month. Shandong and the Jiangsu-Zhejiang-Shanghai region also show a steady growth trend. These regions, as the economic core areas of the eastern region, have always maintained a good development momentum in the second-hand car market. The transaction volume in Anhui and Fujian decreased this month, with a 7.5% decrease in Anhui and a slight decrease of 1.5% in Fujian. In the central and southern region, the volume of second-hand car transactions was 482,500 vehicles, an increase of 3.49% compared to the previous month, with an increase of 16,300 vehicles. This month, the volume of second-hand car transactions in Guangdong, Guangxi, Henan, and Hainan provinces all increased to varying degrees. The second-hand car transaction volume in Hainan province increased by as much as 8.2%, making it the province with the fastest growth in the central and southern regions. Guangxi's growth rate slowed significantly this month, with a 2.6% increase. Guangdong and Henan, as the economic powerhouses of the central and southern regions, continued to show steady growth in the second-hand car market this month. The market performance in Hunan and Hubei weakened slightly this month, with a small decline in transaction volume. In the northern region, the volume of second-hand car transactions was 222,700 vehicles, an increase of 2.3% compared to the previous month, with an increase of 5,000 vehicles. The second-hand car market in Beijing and Tianjin, the two main cities, experienced varying degrees of decline this month. Beijing's second-hand car transaction volume decreased by 6.2% compared to the previous month, while Tianjin experienced a slight decline of 3.9%. Although the decline was relatively small, it still indicates that the market is facing some pressure. Hebei and Shanxi continued to show growth trends this month, with increases of 7% and 8.9% respectively compared to the previous month. Inner Mongolia increased by 4.9% compared to the previous month. In the southwest region, a total of 287,800 vehicles were traded, an increase of 3.23% compared to the previous month, with an increase of 9,000 vehicles. This month, the markets in Sichuan and Yunnan performed well, with growth rates of 6.1% and 5.2% respectively. They were the main drivers of growth in the entire southwest region. The market demand in Chongqing, Guizhou, and Tibet provinces fell this month, with a decline in second-hand car transactions of 2.6%, 1.7%, and 4.7% respectively. Tibet's market performance has been weak recently, with the decline accelerating compared to the previous month. In the northeast region, a total of 130,800 vehicles were traded this month, an increase of 5.35% compared to the previous month, with an increase of 6,600 vehicles. This month, Liaoning and Jilin provinces saw a slight decline in transaction volume, but the overall decline was relatively small, and the market trend remained relatively stable. Heilongjiang had an excellent market performance this month, with a growth rate of over 20%, injecting new vitality into the market in the entire region. In the northwest region, a total of 96,300 vehicles were traded this month, an increase of 4.09% compared to the previous month, with an increase of 3,800 vehicles. This month, Shaanxi province continued to show a stable growth trend, with a 6.7% increase in transaction volume compared to the previous month. Gansu and Xinjiang provinces saw a significant market recovery, with increases of 7.8% and 4% respectively. Ningxia saw a 4.9% increase in transaction volume, but the growth rate slowed significantly compared to the previous month. Qinghai's market saw a small decline this month, with a 5.5% decrease compared to the previous month. Interregional circulation situation in 2024 In October, the transfer rate of used cars was 29.62%, an increase of 0.3% compared to the previous month, and an increase of 1.5% compared to the same period last year. The total number of used car transfers was 506,900 vehicles, an increase of 4.15% compared to the previous month, and an increase of 12.2% compared to the same period last year.