China Automobile Circulation Association: "Golden Week" during the National Day holiday boosts demand for self-driving tours, significantly increasing trading volume in the second-hand car market.

On September 17, the China Automobile Dealers Association stated that from September 8 to 14, the national second-hand car market showed active performance, with the daily transaction volume reaching 67,900 vehicles, a 1.9% increase compared to the previous week, and a significant increase of 5 percentage points compared to the same period in August. With the approaching of the "Golden Week" holiday in October, the demand for long-distance inter-provincial travel and self-driving trips has surged, making "self-driving tours" a popular way of traveling and greatly stimulating the pre-holiday demand for car purchases. At the same time, many markets and car dealers have seized on the "Golden Week" period, when consumers are more likely to choose and change cars, by launching a variety of promotional activities in advance, effectively meeting consumers' willingness to buy cars. With the dual positive factors driving this, the trading volume of the second-hand car market has significantly increased, and the previous high inventory situation has been alleviated to a certain extent, laying a good foundation for the stable development of the market. Traditionally, September and October are the peak seasons for the second-hand car market. During this period, the turnover rate of used cars will increase, the supply of vehicles will be relatively sufficient, and market demand and customer traffic will show a noticeable improvement. However, despite the signs of market recovery, the entire second-hand car industry still faces significant survival pressures. While the trend of new car price reductions has eased somewhat, it has not completely stopped, and the issue of high inventory levels for car dealers remains prominent. Therefore, it is recommended that car dealers maintain a cautious attitude when formulating their fourth-quarter business strategies. Note: Transaction volume calculated based on 5 working days Weekly Regional Analysis of the Second-Hand Car Market This week, the overall trading volume of the second-hand car market showed a rebound compared to the previous week. Looking specifically at the performance of various regional markets, the Northeast and North China regions showed a more obvious increase in trading volume this week; the East, Southwest, and Central South regions also showed a slight upward trend this week; while the Northwest market maintained a relatively stable trend without significant fluctuations. In the East region, the daily average trading volume of second-hand cars was 23,900 vehicles, with a 1.65% increase compared to last week. Looking at the market performance of major cities, this week, the second-hand car markets in Hefei, Nanchang, Jining, and Jinan all saw significant growth in trading volume. Among them, the growth trend in Nanchang's market was particularly eye-catching, with a week-on-week increase of over 20%; Hefei, Jinan, and Jining also saw double-digit growth in trading volume. In addition, the trading volume in cities such as Shanghai, Hangzhou, and Wenzhou also showed a slight rebound. However, the market trading volume in Xiamen and Jinhua declined slightly, showing a somewhat weaker trend this week. In North China, the daily average trading volume of second-hand cars was 2,600 vehicles, with a 7.29% increase compared to last week. Specifically, this week, the second-hand car market in Beijing showed a significant warming trend, with a 19% increase in trading volume compared to the previous week; the trading volume in Tianjin also increased, with a 6.7% week-on-week increase; and the trading volume in Langfang also achieved a 7.6% week-on-week increase. However, the market trading volume in Chifeng saw a significant decline this week, with a 12.5% decrease compared to last week. In addition, the trading volume in Shijiazhuang also saw a slight decrease, with a 3.4% decrease. In the Northeast region, the daily average trading volume of second-hand cars was 2,500 vehicles, with a 5.26% increase compared to last week. This week, the second-hand car markets in Harbin, Dalian, Changchun, Shenyang, and Jixi all saw growth. Specifically, Dalian's second-hand car market had a rapid increase in trading volume this week, with a week-on-week increase of over 10%; Jixi's market trading volume increased by 15% week-on-week. Harbin's market saw an 8.5% week-on-week increase; additionally, both Changchun and Shenyang markets showed a slight upward trend this week, with week-on-week increases of 7% and 4.3%, respectively. In the Southwest region, the daily average trading volume of second-hand cars was 13,100 vehicles, with a 1.43% increase compared to last week. Specifically, this week, the second-hand car markets in Chengdu and Chongqing both showed a rebound. Chengdu's market trading volume increased by 8.2% compared to last week; Chongqing's market trading volume increased by 5.4%. Mianyang's market performance was particularly outstanding this week, with a week-on-week increase in trading volume of over 20%; in contrast, Lhasa's market trading volume saw a significant decline, with a 12% decrease compared to last week. In addition, Guiyang's market also experienced a slight decline this week, with a decrease of about 5%. In the Central South region, the daily average trading volume of second-hand cars was 24,700 vehicles, with a 1.51% increase compared to last week. This week, cities such as Wuhan, Changsha, Haikou, and Jiaozuo all showed a good growth trend in the second-hand car market. Among them, Wuhan's market growth was particularly striking, with a week-on-week increase in trading volume of over 20%; Jiaozuo and Haikou markets also performed well, with week-on-week increases of over 10% this week; Changsha's market trading volume increased by 8.5% compared to last week. However, the trading volume in cities such as Guangzhou, Dongguan, and Nanning saw declines in the second-hand car market, especially in Guangzhou, where the week-on-week decrease exceeded 15%, showing a more significant downward trend. In the Northwest region, the daily average trading volume of second-hand cars was 1,100 vehicles, and the overall trading trend remained stable. This week, the second-hand car markets in Xi'an and Lanzhou performed well, with rapid increases in trading volume, both exceeding 10%; while the trading volume in cities such as Wuzhong, Yulin, Xining, and Bazhou saw decreases, with Yulin's market experiencing a particularly significant decrease, with a week-on-week decrease in trading volume of over 10%.