中国汽车流通协会：2025年12月全国二手车市场交易量187.11万辆 环比增长7.15% 同比下降1.53%

Core Insights - The second-hand car market in China showed a total transaction volume of 1.87 million units in December 2025, reflecting a month-on-month increase of 7.15% but a year-on-year decrease of 1.53% [1][5]. - The cumulative transaction volume for the entire year reached 20.11 million units, marking a year-on-year growth of 2.52% [1][5]. Market Performance - December 2025 saw a significant year-end effect with a 7% month-on-month growth, although the market faced challenges such as demand diversion due to year-end promotions on new cars and delayed consumer purchasing decisions [5][6]. - The overall market trend for 2025 was characterized by a "low start and high finish" pattern, with a notable recovery in the second half of the year as new car prices stabilized and consumer confidence improved [5][6]. Market Characteristics - The second-hand car market exhibited four key characteristics in 2025: 1. Continuous strengthening of cross-regional circulation, with a registration transfer rate of 34.9%, up 4.7 percentage points year-on-year [6][24]. 2. An increasing proportion of new energy vehicles in the second-hand market, with 1.6 million units sold, accounting for 7.9% of total transactions, up 2.2 percentage points from the previous year [6]. 3. Stable average transaction prices, with an average price of 64,500 yuan in December, reflecting a month-on-month increase of 400 yuan and a year-on-year increase of 1,400 yuan [6]. 4. Improved inventory management, with an average inventory cycle of 45 days, indicating effective control over stock levels [7]. Vehicle Type Analysis - In December 2025, the transaction volume for different vehicle types showed varied trends: - Basic passenger cars: 1.03 million units, up 6.22% month-on-month, down 5.96% year-on-year [10]. - SUVs: 244,100 units, up 7.51% month-on-month, down 4.25% year-on-year [10]. - MPVs: 130,600 units, up 11.13% month-on-month, up 5.67% year-on-year [10]. - Commercial vehicles: 109,900 passenger cars and 161,100 cargo vehicles, both showing positive year-on-year growth [10]. Regional Performance - The second-hand car market showed positive growth across six major regions in December 2025: - East China: 519,800 units, up 7.51% month-on-month [18]. - Central South: 516,700 units, up 7.85% month-on-month [18]. - North China: 290,800 units, up 6.46% month-on-month [19]. - Southwest: 270,600 units, up 7.06% month-on-month [19]. - Northeast: 159,100 units, up 9.92% month-on-month [19]. - Northwest: 114,100 units, up 1.01% month-on-month [20]. Vehicle Age Analysis - In December 2025, the distribution of second-hand vehicles by age showed: - Vehicles aged 3-6 years accounted for 42.97% of transactions, down 7.47% year-on-year [14]. - Vehicles aged 3 years or less accounted for 28.74%, up 2.25% year-on-year [14]. - Vehicles aged 7-10 years accounted for 17.41%, up 1.66% year-on-year [14]. - Vehicles over 10 years old accounted for 10.88%, up 3.56% year-on-year [14].