一线调查：热门新能源品牌保值率逼近燃油车 “价格战”下二手车商不敢囤货

Core Insights - The depreciation rate of new energy vehicles (NEVs) in the second-hand market is significantly higher compared to traditional fuel vehicles, with many NEVs losing over half their value within three years [1][3][4] - The low resale value of NEVs is primarily attributed to frequent new model releases and price cuts, leading to a chaotic pricing structure in the market [5][6] - The penetration rate of second-hand NEVs is increasing, rising from 3.6% at the end of 2022 to 9.1% by April 2025, indicating a growing market potential [2] Group 1: Depreciation and Resale Value - The Polestar 2, registered in October 2021, has a resale price of 78,000 yuan, only 17% of its original price of 467,100 yuan, while the Polestar 4, registered in December 2023, is priced at 140,000 yuan, about 30% of its new price [1] - Data from Guazi shows that NEVs typically experience the highest depreciation in the first year, with over 10% of NEVs having a first-year resale value below 50% [3] - Brands with higher new car sales, such as Tesla and NIO, tend to have better resale values, with some Tesla models retaining over 60% of their value after three years [3] Group 2: Market Dynamics - The second-hand NEV market is still significantly smaller than the fuel vehicle market, with NEVs often requiring appointments for viewing, while fuel vehicles are readily available [4] - The ongoing "price war" in the new car market is impacting the second-hand market, forcing dealers to adopt a fast-moving sales model to avoid losses [5][6] - The rapid technological advancements in NEVs lead to older models becoming less competitive, further driving down their resale values [6] Group 3: Export Opportunities - The export of second-hand vehicles, including NEVs, is on the rise, with Zhejiang Province leading in this sector, and policies are being implemented to support this growth [8][9] - The demand for second-hand NEVs in international markets, particularly in Africa and the Middle East, is increasing, with domestic brands gaining attention [9]