China Automobile Dealers Association: The second-hand car market is showing a stable and recovering trend, officially entering the peak sales season of the first half of the year.

The China Automobile Dealers Association released the weekly report on the second-hand car market. In the fourth week of February (February 24, 2025 - March 2, 2025), the second-hand car market showed a steady recovery trend, with a daily average transaction volume of 66,200 vehicles, an increase of 0.9% from the previous week. The market officially entered the prime sales season of the first half of the year. Looking at the price trends, the current transaction prices for second-hand cars have generally increased by 1-2% compared to the beginning of the year, and a pattern of simultaneous increase in quantity and price has been preliminary formed. With the release of seasonal demands such as the start of the new school year in March and spring recruitment, as well as continued favorable policies at the governmental level, the second-hand car industry is expected to enter a new stage of development with both quantity and quality rising. The ongoing promotion of government policies for old-for-new car replacements will further stimulate market potential and promote the continuous expansion of the second-hand car trading volume. According to preliminary statistics, the total national second-hand car transaction volume from February 1st to February 28th was approximately 1.32 million vehicles, a decrease of 9.6% compared to the previous month. However, the transaction volume gradually increased week by week in the three weeks after the Spring Festival holiday, especially in the fourth week when it had already returned to the market level at the beginning of January, showing a resilience exceeding expectations. In terms of supply and demand structure, dealers actively replenished their inventory after the holiday, with a 15% increase in the supply of mainstream car models priced between 100,000-200,000 RMB, effectively alleviating the previous shortage of car sources. At the same time, dealers were able to flexibly and dynamically adjust their inventory structure based on market demand to better adapt to market changes and improve operational efficiency. Note: Transaction volume is calculated based on 5 working days Weekly regional analysis of second-hand cars This week, the overall daily average transaction volume of second-hand cars in the six major regions of the country showed slight fluctuations. The daily average transaction volume of second-hand cars in the East China, North China, and Central South regions showed a growing trend, while the Northwest and Southwest regions experienced a decline. The Northeast region remained stable. Specifically, this week, the daily average transaction volume of second-hand cars in East China was 22,600 vehicles, an increase of 2.35% from the previous week. Major cities such as Hefei, Xiamen, Linyi, Jinan, Shanghai, and Hangzhou all saw varying degrees of increase in transaction volume. Hefei saw an increase of over 10% this week, while Xiamen grew by 7.9%. Shanghai, Jinan, and Hangzhou all saw increases of over 5% this week. However, Nantong market experienced a noticeable decline this week, with a decrease of nearly 10%; Wenzhou also saw a 4% decrease compared to the previous week. In North China, the daily average transaction volume of second-hand cars was 2,600 vehicles this week, an increase of 2.83% compared to the previous week. Looking at major cities, Beijing, Shijiazhuang, Taiyuan, and Chifeng all saw an increase in transaction volume. Beijing market has seen a rapid recovery recently, with an 8% increase in transaction volume week on week; Shijiazhuang market increased by over 20% this week. Chifeng also saw an increase of over 15%. Tianjin market showed a relatively weak performance this week, with a decrease of nearly 20%. In the Northeast region, the daily average transaction volume of second-hand cars was 2,100 vehicles, remaining stable compared to the previous week. Cities such as Harbin, Shenyang, Dalian, and Jinzhou continued to show a rising trend this week, with a slight increase in transaction volume. However, Changchun and Jixi saw a slight decline in transaction volume this week. In the Southwest region, the daily average transaction volume of second-hand cars was 13,300 vehicles, a decrease of 2.36% compared to the previous week. This week, cities such as Chengdu, Guiyang, and Lhasa saw a slight decrease in transaction volume. Lhasa saw a significant decrease in transaction volume of 20% compared to the previous week, while Chengdu and Guiyang both saw a market decrease of over 5% this week. Kunming and Mianyang had a good performance this week, with transaction volume increasing by 7.6% and 7.2% respectively. Chongqing market showed relatively stable trends this week, with a slight increase of 1.5% compared to the previous week. In the Central South region, the daily average transaction volume of second-hand cars was 24,300 vehicles, an increase of 1.55% compared to the previous week. Looking at the market performance of major cities, Guangzhou, Dongguan, Haikou, Jiaozuo, and Wuhan all saw an increase in transaction volume this week. Guangzhou saw a growth rate of over 20% in transaction volume, with a strong market performance. Jiaozuo and Pingdingshan both saw growth rates of over 15% this week. Changsha saw a significant decline in transaction volume this week, with a decrease of over 10%. In the Northwest region, the daily average transaction volume of second-hand cars was 1,200 vehicles, a decrease of 3.82% compared to the previous week. In key areas, such as Lanzhou, Xining, Yulin, and Xi'an, the market performance this week saw a significant decline. Specifically, Yulin market saw a decrease of over 20% this week, showing a weak market performance. Xi'an market saw a decrease in transaction volume of 7.2% this week. The Wuzhong area showed excellent market performance, with an increase of 25% this week.