China Automobile Dealers Association: The average daily transaction volume of used cars from December 30th to January 5th was 65,700, a week-on-week decrease of 6.54%.

The China Automobile Dealers Association stated in a document that the used car market maintained a peak trading level at the beginning of the new year, with a daily average trading volume of 65,700 vehicles from December 30, 2024, to January 5, 2025. Compared to the previous week, the trading volume decreased by 6.54%, but increased by 6% compared to the same period last year, showing that the market is still stable. This week, the market traffic remained relatively stable without significant fluctuations. There are two main reasons behind this phenomenon. Firstly, the New Year holiday fell in the middle of the week and only lasted for one day, making it difficult for consumers to fully utilize the holiday for large-scale car purchases. Short holidays have limited impact on the purchase decisions of high-value consumer goods like cars compared to long holidays, thus no noticeable holiday economic effect was formed, which also had a relatively limited boosting effect on market trading volume. Secondly, looking back at December last year, the used car market experienced a weekly trend of high growth. The strong performance during this period was partly due to the car-buying frenzy before the end of the year and active participation from replacement users. As time passed, some of the demand from replacement users gradually got satisfied, and the market heat gradually returned to normal. Therefore, in this week's market, the number of replacement users decreased slightly, further leading to relatively stable market trading volume. On the policy front, the National Development and Reform Commission and the Ministry of Finance jointly issued the "Notice on intensifying the implementation of the large-scale equipment renewal and old-for-new consumer goods policy in 2025." This notice further expands the subsidy scope and increases the subsidy intensity, which will further stimulate the replacement demand in the used car market and promote the sustainable and healthy development of the automotive consumption market. Looking forward to 2025, the market environment will continue to be complex and changing, posing higher demands on enterprises. Companies need to keenly grasp market dynamics, closely follow policy steps, and flexibly adjust their business strategies. Also, continuous innovation in business models and service methods to accurately meet diverse consumer needs. By strengthening market research and analysis, accurately grasping market trends, laying a solid foundation for future development. Only by continuously enhancing their own competitiveness can companies steadily move forward in the fierce market competition and achieve sustainable development goals. Regional Analysis of Used Cars on a Weekly Basis This week, the overall trading volume of the national used car market showed a clear downward trend. The markets in the Northern, Eastern, and Northwestern regions all experienced significant declines, exceeding the average decline level for the week. In comparison, the Northeast region saw a relatively smaller decline. Specifically, in the Eastern region, the daily average trading volume of used cars this week was 19,300 vehicles, a 7.62% decrease compared to the previous week. In terms of the performance of major cities, cities such as Hefei, Xiamen, Nantong, Nanchang, Wenzhou, and Jinhua all saw trading volume declines of over 20%, indicating a weak market performance. Shanghai, as the economic hub of the East, experienced a trading volume decline of over 30%, indicating significantly reduced market demand. It is worth mentioning that Linyi and Jining had outstanding market performances this week, with trading volumes increasing by about 10% compared to the previous week. In the Northern region, the daily average trading volume of used cars was 2,400 vehicles, an 8.6% decrease compared to the previous week. Beijing, Langfang, Tianjin, Taiyuan, and Chifeng all experienced significant declines in trading volume this week. Taiyuan had the most significant decline, with a daily average decrease of nearly 30%; Langfang and Chifeng also saw declines of over 20%; while Beijing, as the core city of the Northern region, had a trading volume decline of over 15%. In contrast, Shijiazhuang had a relatively stable market performance, with a trading volume increase of about 5% compared to the previous week. In the Northeast region, the daily average trading volume of used cars was 2,200 vehicles, a 4.48% decrease compared to the previous week. The market overall showed slight weakness. Looking at major cities, Dalian, Changchun, and Harbin all saw declines in the trading volume of used cars. Among them, Dalian's trading volume declined by 4.7% this week, Changchun by 7%, and Harbin's decline was close to 10%. In the Southwest region, the daily average trading volume of used cars was 13,600 vehicles, a 5.42% decrease compared to the previous week, indicating a continuing weakening of market demand over the past two weeks. Looking at major cities, Kunming saw a significant decline this week, with a 22% decrease in trading volume. Guiyang also experienced a decrease of nearly 20%. Lhasa saw an 18.8% decrease. Chongqing had a relatively small decline this week, with a trading volume decrease of 6.7%. However, Chengdu had a standout market performance this week, with an increase of 20% compared to the previous week. In the Central-South region, the daily average trading volume of used cars was 27,100 vehicles, a 6.06% decrease compared to the previous week. Looking at the performance of major cities, Guangzhou, Nanning, Jiaozuo, and Haikou all had relatively significant declines in the trading volume of used cars. Guangzhou and Nanning both had declines of over 10%, indicating a rapid decline in market demand; Haikou and Jiaozuo had declines of around 25%. Wuhan, however, had a strong market performance this week, with an increase of nearly 20% compared to the previous week. In the Northwest region, the daily average trading volume of used cars was 1,100 vehicles, an 8.08% decrease compared to the previous week. Looking at the performance of major cities, Lanzhou, Yulin, Wuzhong, Xining, and Xi'an all saw varying degrees of decline in the market this week. Yulin had the most significant decline, with a decrease of 24%; Wuzhong and Xi'an also had declines of 20% this week; Lanzhou and Xining saw decreases of 15.7% and 11.3%, respectively.