China Automobile Dealers Association: The daily average transaction volume of second-hand cars in the third week of December was 69,200 vehicles, reaching a new high for the year.

On December 26th, the China Automobile Dealers Association stated that in the third week of December, the daily average transaction volume of used cars in China was 69,200 vehicles, an increase of 0.53% compared to the previous week, and a 5.2% increase compared to the same period in November. It increased by 2.1 percentage points from the previous week, reaching a new high for the year in daily transaction volume. Note: Transaction volume is calculated based on 5 working days. Looking back at the market performance since December, the transaction volume has been consistently high in the past few weeks. The daily average transaction volume was 66,600 vehicles in the first week, with a 1.22% increase compared to the previous week, laying a solid foundation for the month's transactions. The daily average transaction volume further increased to 68,800 vehicles in the second week, demonstrating the continued strong market demand and consumers' high enthusiasm for purchasing cars. According to comparable data, from December 1st to 22nd, the total transaction volume of used cars reached 1.4 million vehicles, a 5% increase from the previous month and a significant 15% increase compared to the same period last year. Based on the current market trend, it is projected that the total monthly transaction volume is expected to exceed 1.85 million vehicles, setting a new monthly transaction record for the year. The growth of the end-of-year used car market is propelled by multiple factors. Firstly, the subsidy policy for trading in old cars for new ones is coming to an end, which undoubtedly has spurred consumers to seize the opportunity. According to data from the Ministry of Commerce, as of December 19th, nearly 2.7 million vehicles have been scrapped and replaced with new ones, with a total of over 3.1 million vehicles being exchanged, totaling 5.8 million vehicles. In order to fully utilize this policy dividend, consumers have accelerated their car purchasing decisions, leading to a rapid increase in used car transaction volume. Secondly, as the New Year holiday approaches, used car dealers have actively increased their promotional efforts, attracting consumers through various discount activities. They have been actively clearing inventory of older vehicles, preparing for the market in the new year, further stimulating market purchasing power. Additionally, the end-of-year market's momentum cannot be overlooked, as it significantly increases consumers' willingness to purchase cars, driving the continuous increase in transaction volume. In terms of market characteristics, cross-regional circulation has become a prominent feature of the used car market. The latest data from the association shows that the transfer rate of used cars reached 29.79% in November, an increase of 0.17 percentage points from the previous month and 1 percentage point from the same period last year. This data fully demonstrates the strengthening trend of cross-regional circulation in the used car market, with consumers making more diversified and cross-regional choices for used cars. It is expected that the transfer rate for December will continue to grow, possibly exceeding 30%, injecting new momentum into the prosperous development of the used car market. Meanwhile, the rapid growth of new energy used cars has also attracted market attention. With consumers' increasing awareness of environmental protection and energy conservation, new energy used cars are gradually gaining favor in the market. Strong policy support, continuous optimization of market supply and demand relationships, and the emergence of innovative models have collectively provided strong guarantees for the vibrant development of the new energy used car market. It is foreseeable that new energy used cars will become a major highlight in the future used car market. Facing a complex market environment, companies need to closely monitor market trends, accurately understand policy trends, and adjust business strategies in a timely manner. At the same time, continuous innovation in business models and service methods to meet the diverse needs of consumers is essential. Strengthening market research and analysis, grasping market trends, and preparing for future competition. Only by continuously improving competitiveness, can companies stand out and achieve sustainable development. Weekly Regional Analysis of Used Cars This week, the overall transaction situation in the national used car market continued to rebound, but there were significant differences in the performance of different regional markets. The markets in the Northwest and Northeast regions performed particularly strongly, while the markets in North China and Central and South China also showed a steady growth trend. The East China region slightly declined this week, while the Southwest region showed a more significant decline. Specifically, the daily average transaction volume of used cars in East China was 20,300 vehicles, a slight decrease of 0.57% compared to the previous week. Markets in cities such as Xiamen, Linyi, Jining, and Hangzhou all experienced varying degrees of decline, especially in the Jining market, where the weekly decline exceeded 25%, indicating a clear weakening of market demand. Xiamen and Linyi saw transaction volume decreases of 4.8% and 4.5% respectively. Shanghai, as the economic center of East China, saw a minor increase of 2% in transaction volume this week, with a slower growth rate. In addition, markets in cities like Hefei, Nantong, Jinan, and Wenzhou showed steady growth trends, with Wenzhou in particular standing out this week with a notable increase of over 15%. The daily average transaction volume of used cars in North China was 2,700 vehicles, an increase of 4.03% compared to the previous week, showing an overall upward trend. This week, markets in Beijing, Shijiazhuang, Langfang, and Chifeng all experienced significant growth. Beijing, as the core city of North China, saw a 5.3% increase in transaction volume this week. Shijiazhuang saw a 4.9% increase. Langfang and Chifeng had particularly outstanding market performances this week, with both experiencing growth rates of over 10%. The Tianjin market saw a slight decline of 4.5% this week. The daily average transaction volume of used cars in Northeast China was 2,400 vehicles, an increase of 5.55% compared to the previous week. Cities such as Changchun, Dalian, and Harbin all saw increased market demand, leading to varying degrees of growth in transaction volume. This week, the Changchun market showed significant growth, with a 10% increase in transaction volume compared to the previous week. Both Dalian and Harbin saw increases in market traffic and transaction volume this week, with Dalian experiencing a 4.2% increase and Harbin a 5.5% increase. The daily average transaction volume of used cars in Southwest China was 15,000 vehicles, a decrease of 6.5% compared to the previous week, indicating a slight weakening in market demand. This week, cities like Chengdu and Lhasa saw a significant decline in used car transaction volume, with Chengdu seeing a 12.5% decline and Lhasa experiencing a decline of over 20%. Additionally, markets in Guiyang and Mianyang showed a downward trend in used car transactions. However, the Kunming market stood out this week with a significant increase, with a growth rate of over 10%. Furthermore, the Chongqing market maintained a slight increase, with a growth rate of 0.9%, showing a steady overall trend. The daily average transaction volume of used cars in Central and South China was 27,500 vehicles, an increase of 4.58% compared to the previous week. Looking at the performance of major cities, Dongguan, Nanning, Wuhan, Changsha, and Haikou all saw an increase in used car transaction volume this week.All showed significant growth. Among them, the market performance in Changsha was particularly eye-catching, with a month-on-month increase of over 20%, and market demand significantly strengthened. Dongguan and Haikou also saw increases of over 10% this week, showing strong growth momentum. However, this week's trading volume in Jiaozuo showed a significant decline, down 16.2% month-on-month. In addition, trading volume in Guangzhou also experienced a slight decrease, with a decrease of 1.3%, indicating a slightly weak market.In the Northwest region, the daily average transaction volume of used cars is 0.12 million vehicles, an increase of 8.39% compared to the previous period, indicating a noticeable upward trend in overall market demand. In terms of specific city performance, Xi'an, Yulin, Wuzhong, and Xining have all seen significant increases in transaction volume. Xining and Wuzhong in particular have seen outstanding growth rates, both exceeding 20%. Meanwhile, the markets in Xi'an and Yulin have also experienced growth of 5.6% and 6.7% respectively. However, the markets in Lanzhou and Baoji have seen a slight decline, with a decrease of around 4% compared to the previous period.