中国汽车流通协会：2025年5月份中国二手车经理人指数为44.9%

Core Insights - The latest "Used Car Manager Index" (UCMI) released by the China Automobile Dealers Association indicates a slight recovery in the used car market, with the index at 44.9% in May, reflecting a year-on-year increase of 2 percentage points and a month-on-month increase of 2.3 percentage points, although it remains in a recessionary zone [1] Market Demand - During the May Day holiday, various regions organized auto shows that boosted both new and used car sales, but ongoing price fluctuations in the new car market led to a decline in used car purchasing demand as some potential buyers opted for new cars [3][6] - The demand for used cars in May remained relatively stable, with a slight decrease in the proportion of used car managers reporting reduced demand compared to the previous month [3][6] Sales Volume - The used car transaction volume in May was largely flat compared to the previous month, with a higher proportion of used car managers indicating that sales were "stable" [6] - The new car market's price discounts during the May Day holiday contributed to a decrease in used car transaction volume as some customers shifted their focus to new cars [6] Pricing Trends - In May, both the acquisition and sales prices of used cars remained stable compared to the previous month, although there was a slight increase in the proportion of used car managers reporting price increases [9] - The fluctuations in new car prices continued to impact the used car market, but increased exhibition activities led to a greater influx of quality vehicles into the used car market, prompting minor adjustments in acquisition and sales prices [9] Inventory Situation - The proportion of used car managers reporting an increase in inventory levels rose in May, driven by a surge in quality vehicle sources entering the market, while the overall market activity and transaction volume declined [11] - The inventory turnover time in May remained stable compared to the previous month, despite the increased inventory pressure [11] Business Conditions - The proportion of used car managers reporting "average" business conditions increased, indicating continued pressure on the operations of used car dealers [13] - The market growth remained weak in May due to multiple factors, including the holiday demand release and new car price discounts [13] Future Outlook - Looking ahead, used car managers anticipate a significant reduction in market activity as the automotive market enters the traditional off-season, with expectations of a decline in used car transaction volume in June compared to May [15][16] - The expected index for June is projected to be 40.5%, indicating that the used car market will continue to be in a recessionary zone [16]