Following used car annual transactions surpassing the 20-million mark, the industry has reached another milestone. According to the latest data from the China Automobile Dealers Association (CADA), cumulative used car transactions in the first half of the year reached 9.7132 million units, up 1.50% year-on-year. Meanwhile, domestic new car sales in the same period were 9.921 million units, down 21.1% year-on-year. Used car transactions are now approaching a 1:1 ratio with new car sales.
Behind the Divergence
The simultaneous rise of used cars and decline of new cars signals that China’s auto market has entered the stock era, and consumer car-buying logic has undergone a fundamental shift. Consumers have moved from simply pursuing low-cost transportation to focusing on vehicle condition transparency, after-sales support, and total cost of ownership.
Structural Transformation
Integrity services and new energy have become the dual engines of used car market growth. New energy used cars are beginning to enter the stage of large-scale circulation. The structural transformation is driven by policy dividends, technology empowerment, and consumer mindset evolution.
2026 Market Characteristics
In 2025, national used car transactions exceeded 20 million units for the first time, reaching 20.108 million units with a transaction value approaching 1.3 trillion yuan. China has officially become the world’s largest single used car market. Entering 2026, the used car market has entered a phase of breakthrough and restructuring in the stock era.
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