中国汽车流通协会：2025年12月份中国二手车经理人指数为47.1%

Core Insights - The December used car manager index (UCMI) stands at 47.1%, reflecting a month-on-month increase of 0.8 percentage points but a year-on-year decrease of 6.3 percentage points, indicating a slight improvement in market conditions but still within a recessionary zone [1] Market Demand - The demand for used cars in December has decreased, with 32.9% of respondents indicating a reduction in market demand, influenced by year-end promotions for new cars and increased consumer hesitation [5] - Despite traditional year-end demand, the market exhibited a "旺季不旺" (旺季不旺) characteristic due to factors such as new car price cuts and the conclusion of trade-in subsidy policies [4] Pricing Trends - The acquisition and sales prices of used cars have decreased compared to the previous month, with 37.5% of managers reporting a decline in acquisition prices and 20.7% noting a drop in sales prices [11] - The ongoing pressure from new car promotions and weak demand has led to a simultaneous decline in both acquisition and sales prices in the used car market [11] Inventory and Operational Conditions - There has been a reduction in used car inventory, but the turnover time has increased, indicating that dealers are controlling inventory levels due to shrinking demand and the impact of new car promotions [13] - 24.0% of used car managers reported "average" operational conditions, reflecting significant pressure on dealers, with 30% indicating a decline in turnover funds by over 10% [15] Future Expectations - Dealers are cautious about future expectations, with a forecast index of 46.4%, remaining in a recessionary zone, indicating a lack of confidence in market recovery [19]