China Automobile Dealers Association: In January, the national second-hand car market transaction volume was 1.4613 million vehicles, a decrease of 23.1% compared with the previous month.

In January 2025, the China Automobile Dealers Association issued a document stating that the national used car market transaction volume was 1.4613 million vehicles, a 23.1% decrease compared to the previous month and a 13.45% decrease year-on-year, with a total transaction amount of 96.363 billion yuan. Breaking it down, the basic type of passenger cars traded a total of 839,200 vehicles, a 15.15% decrease year-on-year; SUVs traded a total of 197,300 vehicles, a 12.6% decrease year-on-year; MPVs traded a total of 95,800 vehicles, an 11.51% decrease year-on-year; and crossover passenger cars traded a total of 36,900 vehicles, a 2.7% decrease year-on-year. In terms of commercial vehicles, buses traded 83,000 vehicles, a 13.89% decrease year-on-year, while trucks traded 113,600 vehicles, an 11.34% decrease year-on-year. Regarding the new energy market, in January 2025, a total of 90,800 used cars were traded, a 26.6% decrease compared to December 2024, and a 1.5% increase year-on-year. In January 2025 Market Overview In January 2025, the monthly transaction trend of the used car market In January 2025, the national used car market transaction volume was 1.4613 million vehicles, a 23.1% decrease compared to the previous month and a 13.45% decrease year-on-year, with a total transaction amount of 96.363 billion yuan. Changes in the segmented market in January 2025 In January 2025, the national used car market transaction volume was 1.4613 million vehicles, a 23.1% decrease compared to the previous month and a 13.45% decrease year-on-year. The basic type of passenger cars traded a total of 839,200 vehicles, a 15.15% decrease year-on-year; SUVs traded a total of 197,300 vehicles, a 12.6% decrease year-on-year; MPVs traded a total of 95,800 vehicles, an 11.51% decrease year-on-year; and crossover passenger cars traded a total of 36,900 vehicles, a 2.7% decrease year-on-year. In terms of commercial vehicles, buses traded 83,000 vehicles, a 13.89% decrease year-on-year, while trucks traded 113,600 vehicles, an 11.34% decrease year-on-year. Analysis of the January 2025 sales volume of various levels of sedans In January 2025, looking at the overall sales volume of sedans, A-class sedans were still the best-selling models, accounting for 50%, a 1.2% increase year-on-year; followed by B-class sedans at 24.1%, a 0.9% increase year-on-year; C-class sedans at 8.6%, a 0.4% increase year-on-year; D-class sedans at 2.1%, a 0.1% decrease year-on-year; A0-class sedans at 11.2%, a 2% decrease year-on-year; and A00-class sedans at 4%, a 0.4% decrease year-on-year. Overall, in January, A-class, B-class, and C-class sedans increased compared to the same period last year, while A0-class sedans decreased rapidly compared to the same period last year. Analysis of the vehicle age of used cars in January 2025 In January, the trades of used cars with an age of 3-6 years accounted for the largest proportion at 50.74%, an increase of 2.88% compared to the same period last year; The proportion of vehicle models within 3 years was 26.95%, a decrease of 1.92% compared to the same period last year; The proportion of vehicles aged 7-10 years was 15.27%, a decrease of 1.31% compared to the same period last year; The proportion of vehicles over 10 years old was 7.04%, an increase of 0.35% compared to the same period last year. In terms of vehicle age structure, in January, the majority of vehicles had an age of 3-6 years, accounting for 50% of transactions. Vehicles under 3 years and between 7-10 years old had a noticeable decrease compared to the same period last year. Analysis of the price range of used cars traded in January 2025 In January, the market share of vehicles traded below 30,000 yuan was the largest at 30.9%, a decrease of 0.9 percentage points compared to the same period last year. Vehicles in the 30,000-50,000 yuan range accounted for 25.5%, an increase of 3.5 percentage points year-on-year; those in the 50,000-80,000 yuan range accounted for 14.7%, a decrease of 1.2 percentage points year-on-year; those in the 80,000-120,000 yuan range accounted for 11.8%, an increase of 0.1 percentage point year-on-year; those in the 120,000-150,000 yuan range accounted for 5.6%, an increase of 0.8 percentage points. Vehicles in the 150,000-300,000 yuan range accounted for 8.3%, a decrease of 1.9 percentage points. Those above 300,000 yuan accounted for 3.4%, a decrease of 0.4 percentage points year-on-year. In January, lower-priced vehicles continued to dominate the used car market, but there was a certain growth trend in the market share of vehicles in the mid-to-high-end price range. Analysis of the situation in six major regions in January 2025 In January 2025, the national used car transaction volume showed a significant decrease compared to the same period last year, with varying degrees of decline in each region. Among them, the most significant declines were seen in the North China, East China, and Central South regions, with declines exceeding 15%. The Northeast and Northwest regions had relatively smaller declines. The East China region had a used car transaction volume of 404,800 vehicles, a 15.1% decrease year-on-year, with a decrease of 72,000 vehicles compared to the same period last year. The Central South region had a used car transaction volume of 423,100 vehicles, a 17.06% decrease year-on-year, with a decrease of 87,000 vehicles compared to the same period last year. The North China region had a used car transaction volume of 197,800 vehicles, a 16.98% decrease year-on-year, with a decrease of 40,500 vehicles compared to the same period last year. The Southwest region had a used car transaction volume of 244,900 vehicles, a 9.19% decrease year-on-year, with a decrease of 24,800 vehicles compared to the same period last year. The Northeast region had a used car transaction volume of 106,800 vehicles, a 2.43% decrease year-on-year, with a decrease of 2,700 vehicles compared to the same period last year. The Northwest region had a used car transaction volume of 83,800 vehicles, a 0.2% decrease year-on-year, with a decrease of 200 vehicles compared to the same period last year. Average price of used cars nationwide in 2025 In January, the average price of used car transactions increased by 0.28 thousand yuan compared to December 2024 and decreased by 0.06 thousand yuan compared to the same period last year. In January 2025 New Energy Market Overview Trends in the monthly transactions of new energy used cars in January 2025 In January 2025, a total of 90,800 used cars were traded, a 26.6% decrease compared to December 2024, and a 1.5% increase year-on-year from the same period last year. Note: Data does not include hybrid models.Analysis of handcart modelsIn January 2025, in the new energy passenger car market; A00-level cars accounted for 16.5%, a year-on-year decrease of 4.4%; A0-level cars accounted for 6.9%, a year-on-year decrease of 0.6%; A-level cars accounted for 22.9%, a year-on-year decrease of 1.6%. B-level cars accounted for 10.8%, a year-on-year increase of 2.8%; C-level cars accounted for 4.2%, a year-on-year increase of 0.8%; MPV cars accounted for 11.2%, a year-on-year increase of 7.7%; SUV cars accounted for 27.5%, a year-on-year decrease of 4.8%. In January, in the second-hand new energy car market, the shares of A-level, A0-level, A00-level, and SUV models showed a significant decrease compared to the same period last year, while B-level and MPV models showed more significant growth. Note: Data does not include hybrid models Analysis of the age of use of second-hand new energy cars in January 2025 In terms of age structure, in January, there was a noticeable decrease in the proportion of 4-6 year old models compared to the same period last year, while the proportion of models aged under 2 years, 2-4 years, and over 6 years increased. Specifically, the proportion of models aged under 2 years was 26.3%, an increase of 5.8% compared to the same period last year. The proportion of models aged 2-4 years was 46.4%, an increase of 1.6% compared to the same period last year. The transaction volume of models aged 4-6 years was 13.4%, a decrease of 8.8% compared to the same period last year. Models aged over 6 years accounted for 13.9%, an increase of 1.4% compared to the same period last year. Note: Data does not include hybrid models Analysis of the prices of second-hand new energy cars in January 2025 In January 2025, the proportion of new energy second-hand cars priced under 30,000, 50,000-80,000, and 80,000-120,000 increased, while the proportions in other price ranges decreased compared to the same period last year. The proportion of new energy second-hand cars priced under 30,000 this month increased significantly, accounting for 35.1%, a 2.6% increase compared to the same period last year; those priced 50,000-80,000 accounted for 11.8%, a 0.4% increase; those priced 80,000-120,000 accounted for 14.3%, a 0.6% increase; those priced 30,000-50,000 accounted for 14.5%, a 0.4% decrease; those priced 120,000-150,000 accounted for 11%, a 1.6% decrease; those priced 150,000-300,000 accounted for 11.4%, a 1% decrease; and those priced above 300,000 accounted for 2%, a 0.6% decrease. Note: Data does not include hybrid models Analysis of the circulation of second-hand cars Inter-regional circulation in 2025 In January, the transfer rate of second-hand cars was 28.93%, a year-on-year decrease of 0.72% compared to the same period last year. The total number of transferred second-hand cars was 422,800, a decrease of 15.54% compared to the same period last year. Provincial transfer situation in January 2025 In January 2025, the top five provinces in terms of transfer rate were Beijing, Shanghai, Hebei, Shandong, and Zhejiang. Specifically, the transfer rate in Beijing was 37.24%, a 3.9% decrease compared to the same period last year, with a total of 15,700 transfers; in Shanghai, the transfer rate was 34.06%, a 1.2% decrease, with 9,900 transfers; in Hebei, the transfer rate was 32.59%, a 2.4% increase, with 25,600 transfers; in Shandong, the transfer rate was 31.55%, a 2% increase, with 38,500 transfers; in Zhejiang, the transfer rate was 31.42%, a 0.7% decrease, with 36,700 transfers. Dealer survey analysis Analysis of the second-hand car dealer situation