2000万辆的达成，并非一蹴而就，而是经历了一个市场和政策共同蓄势发力的过程。近年来，我国汽车 保有量稳步提升，庞大的存量基数为二手车市场发展积累了充足车源。同时，汽车以旧换新政策，不仅 对置换新车给予补贴，为二手车市场提供了稳定车源，还同步优化了二手车流通环节的相关配套措施， 有效打通二手车市场发展堵点，成为推动二手车交易量创新高的催化剂。 继新车年销量创新高之后，二手车市场交易量也站上新台阶。中国汽车流通协会日前发布数据显示， 2025年，我国二手车市场交易规模以2010.8万辆的成绩首次突破2000万辆大关，同比增长2.52%，累计 交易金额12897.9亿元，引发关注。 为啥欧美发达国家消费者爱买二手车，我们却热衷买新车？网上有个说法是，美国年轻人得自己赚钱买 车，而中国年轻人都是爸妈给钱买车，所以国内会"相对有钱"一点。这话听起来貌似有理，但经不起推 敲。问题关键在于，我国二手车交易市场不够规范、不够成熟。 一方面，信息不对称，第三方鉴定评估体系滞后。随着二手车跨区域流通壁垒逐步破除、数字化平台发 展，当前我国二手车流通效率明显提高，交易透明度和便利性持续增强，但仍然存在信息不对称问题。 美国、日本 ...

| 指标 | | | | 2017年 2018年 2019年 20年 21年 22年 23年 24年 | | 25年 | 25年撮 速 | | --- | --- | --- | --- | --- | --- | --- | --- | | 全国机动车保有量 | 3.1 | 3.27 | 3.48 3.72 | 3.95 | 4.17 4.35 4.53 4.69 | | 3.5% | | 全国汽车保有量 | 2.17 | 2.4 | 2.6 2.81 | 3.02 | 3.19 3.36 3.53 3.66 | | 3.7% | | 汽车占机动车比率 | 70.0% | 73.4% | 74.7% 75.5% | | 76.5% 76.5% 77.2% 77.9% 78.0% | | 0.1% | | 新注册登记机动车数量 | 3352 | 3172 | 3214 3328 | 3674 | 3478 3480 3583 3535 | | -1.3% | | 新注册登记汽车数量 | 2.813 | 2.673 | 2578 2424 | 2622 | 2323 2456 2690 2619 | | -2. ...

Group 1 - The second-hand car market in China is projected to exceed 20 million transactions for the first time in 2025, reaching a total of 20.10 million units, with a transaction value of 1.28979 trillion yuan, marking a year-on-year increase of 49.38 million units and 2.52% growth [1] - The market is characterized by a "low start, high rebound" trend, with a notable increase in transaction volume in December, reflecting a recovery in consumer confidence as new car prices stabilize [1] - The overall second-hand car market is expanding, with improved structure, enhanced circulation efficiency, and diversified business entities, indicating a more mature and efficient industry [2] Group 2 - The proportion of second-hand new energy vehicles has significantly increased, with 1.6 million units sold in 2025, accounting for 7.9% of total transactions, up 2.2 percentage points from the previous year [5] - Digital platforms are emerging as key players in building trust within the industry, providing comprehensive vehicle data and enhancing the buying experience for younger consumers [3] - The market is witnessing a shift towards "consumer-to-consumer" (C2C) transactions, improving transparency and convenience, as traditional barriers in the second-hand car circulation system are being dismantled [3] Group 3 - The government is actively promoting policies to support the second-hand car market, including initiatives to enhance green consumption and explore the potential of the "aftermarket" [4] - Experts suggest that optimizing transaction processes and breaking down information barriers are crucial for tapping into the second-hand car consumption potential [4] - There is a need for improved detection and valuation technologies for new energy second-hand vehicles, along with encouraging manufacturers to offer lifetime warranties on key components [6]

Core Insights - The Chinese used car market is projected to exceed 20 million transactions by 2025, marking a historic high [1] - The transaction volume of used new energy vehicles is expected to reach 1.6 million units, accounting for 7.9% of the total used car transactions, an increase of 2.2 percentage points from the previous year [1] Market Overview - The total used car transaction volume for 2025 is estimated at 20.108 million units, representing a year-on-year growth of 2.52% [1] - The cumulative transaction value for used cars is projected to be 1,289.79 billion yuan [1] - Passenger cars are expected to account for 15.7397 million units sold, with a slight year-on-year increase of 0.42% [1] - Commercial vehicles are anticipated to reach 2.8692 million units, showing a year-on-year growth of 7.7% [1] Historical Context - In 2016, the used car transaction volume in China was 10.39 million units, marking the first time it surpassed the 10 million mark [1] - Over the past decade, the used car market has demonstrated strong resilience, growing from 10 million to 20 million transactions [1]

Core Insights - The Chinese used car market is projected to exceed 20 million transactions by 2025, marking a historical high [1] - Key characteristics of the used car market in 2025 include enhanced cross-regional circulation, increased share of used new energy vehicles, stable average transaction prices, and improved inventory management [1] Market Trends - By December 2025, the used car transfer rate is expected to rise to 34.9%, an increase of 4.7 percentage points compared to the same period last year [1] - The growth in cross-regional circulation is expected to release the flow value of used cars and alleviate local dealers' inventory pressure, indicating a shift in consumer preferences towards diverse and cross-regional choices [1] New Energy Vehicles - The transaction volume of used new energy vehicles is anticipated to reach 1.6 million units in 2025, accounting for 7.9% of the total annual transactions, which is an increase of 2.2 percentage points from the previous year [1] Future Outlook - For 2026, the automotive industry is expected to stabilize new car market prices due to the effects of regulatory measures and the promotion of trade-in policies, creating a favorable environment for the used car market to continue expanding [1]

Core Viewpoint - The Chinese used car market is projected to exceed 20 million transactions in 2025, marking a historic high, with significant growth in the share of used new energy vehicles [3]. Group 1: Market Overview - In 2025, the total transaction volume of used cars reached 20.1 million units, a year-on-year increase of 2.52%, adding 493,800 units compared to the previous year [3]. - The cumulative transaction value for used cars in 2025 was 1,289.79 billion yuan [3]. - The used car market has shown strong resilience, growing from 10.39 million units in 2016 to over 20 million units in 2025 [3]. Group 2: Market Characteristics - The used car market in 2025 exhibited four key characteristics: 1. Strengthened cross-regional circulation trends 2. Increasing share of new energy used cars 3. Stabilization of average transaction prices, indicating a more mature and rational industry development 4. Improved inventory management, with an average inventory cycle of 45 days in December [3]. Group 3: Vehicle Structure - The cumulative transaction volume for passenger cars was 15.74 million units, showing a year-on-year growth of 0.42%, while commercial vehicles totaled 2.87 million units, with a growth of 7.7% [4]. Group 4: Young Consumers - Young users are becoming a significant demographic in the used car market, with a report indicating that used cars are increasingly the first vehicle for many young people [6]. - The primary consideration for young users when purchasing used cars is high cost-performance, with a focus on vehicle condition and price, typically in the range of 50,000 to 100,000 yuan [6]. - Young consumers prefer fuel vehicles over new energy vehicles and exhibit cautious and pragmatic purchasing behaviors, with a strong preference for online and platform-based transaction channels [6].

Group 1 - The core viewpoint of the articles highlights the significant growth of the used car market in China, with projections indicating that the transaction volume will exceed 20 million units by 2025, marking a historical high [1] - In 2025, the cumulative transaction volume of used cars is expected to reach 20.1 million units, representing a year-on-year growth of 2.52%, with a total transaction value of 1.28979 trillion yuan [1] - The used car market is characterized by four main trends: enhanced cross-regional circulation, increasing proportion of used new energy vehicles, stable average transaction prices, and improved inventory management [1] Group 2 - In terms of vehicle structure, the cumulative transaction of passenger cars is 15.7397 million units, showing a year-on-year increase of 0.42%, while commercial vehicles reached 2.8692 million units, with a growth of 7.7% [2] - The MPV segment within passenger cars has seen a notable transaction volume of 1.3418 million units, reflecting a year-on-year growth of 7.36%, indicating sustained market demand [2] Group 3 - Young users are becoming an increasingly significant demographic in the used car market, with many purchasing their first car as a used vehicle [3] - The primary factors influencing young users' decisions to buy used cars include high cost-performance ratio, with a focus on vehicle condition and price, typically within the range of 50,000 to 100,000 yuan [3] - Young users show a preference for fuel vehicles over new energy vehicles and exhibit cautious and pragmatic purchasing behaviors, with a strong inclination towards online and platform-based transaction channels [3]

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].

Core Insights - The second-hand car market in China is experiencing growth, with October 2025 showing a transaction volume of 1.76 million units, a 2% decrease month-on-month but a 2.7% increase year-on-year, and a transaction value of 111 billion yuan, down 0.8% year-on-year [1][2] Group 1: Market Performance - In the first ten months of 2025, the cumulative transaction volume of second-hand cars reached 16.49 million units, representing a year-on-year increase of 3.5%, with a total transaction value of 1,057.2 billion yuan, up 0.6% [2] - The second-hand car market has shown strong growth from 12.4 million units in 2017 to an expected 19.61 million units in 2024, indicating a significant increase of 7.2 million units over seven years [2] Group 2: Transaction Structure - The market structure is shifting towards higher-end consumption, with a continuous increase in the SUV and MPV segments, while the passenger car market is relatively shrinking [4] - The proportion of high-age second-hand cars is increasing, with cars aged 3-6 years accounting for 44.1% of transactions in the first ten months of 2025 [5] Group 3: Pricing Trends - The average transaction price of second-hand cars has stabilized, with a notable increase in the proportion of cars priced between 30,000 to 50,000 yuan, while the share of cars below 30,000 yuan has decreased [6] Group 4: New Energy Vehicles (NEVs) - In October 2025, the transaction volume of second-hand NEVs was 148,000 units, a 7% decrease month-on-month but a 42% increase year-on-year, with a penetration rate of 11.2% [7][8] - The cumulative transaction volume of second-hand NEVs from January to October 2025 reached 1.284 million units, reflecting a year-on-year increase of 44% [7] Group 5: Vehicle Age and Inventory - The proportion of second-hand NEVs under 2 years of age increased significantly to 37.3% in Q4 2025, indicating a more active market for younger vehicles [9][10] - The inventory pressure for second-hand cars has slightly improved, with 35% of cars in stock for over 30 days, remaining stable compared to the previous year [14] Group 6: Transfer Rate and Market Dynamics - The transfer rate of second-hand cars reached a historical high of 33.1% in October 2025, reflecting improved convenience in the transfer process [13] - Major outflow regions for second-hand cars include Beijing and Shanghai, while provinces like Anhui and Shandong are significant inflow areas [13]

Core Viewpoint - The second-hand car market in China is experiencing growth, with significant potential for future development, particularly in the context of the rising popularity of electric vehicles [1][5]. Market Overview - In July 2025, the national second-hand car transaction volume reached 1.66 million units, a month-on-month increase of 0.2% and a year-on-year increase of 3% [1][5]. - From January to July 2025, the cumulative transaction volume was 11.23 million units, a year-on-year increase of 2%, while the transaction amount was 729.2 billion yuan, a slight decrease of 0.1% [1][5]. Industry Growth - The second-hand car market is recovering, with various local traffic management departments facilitating transactions and improving circulation [1][2]. - The market is still in a rapid growth phase compared to developed countries, indicating substantial future potential [1][5]. Transaction Structure - The transaction structure shows a growing preference for SUVs and MPVs, while the market for passenger cars is becoming more high-end [6][7]. - In July 2025, the proportion of cars aged 3-6 years accounted for 45% of transactions, indicating a trend towards newer second-hand vehicles [7][8]. Price Trends - The average transaction price of second-hand cars is trending towards mid-to-high-end models, with a notable increase in the proportion of cars priced between 80,000 to 150,000 yuan [13][17]. - The market for second-hand electric vehicles is also growing, with a significant increase in transaction volume and penetration rate [14][15]. Inventory and Turnover - The inventory pressure in the second-hand car market is gradually improving, with a notable decrease in the proportion of cars held for over 30 days [22]. - The turnover rate for second-hand cars has increased, reaching a historical high of 30.4% in Q3 2025 [19][20]. Future Outlook - The potential for growth in the second-hand car market remains strong, particularly with the ongoing development of electric vehicles and favorable government policies [1][18]. - The market is expected to continue evolving, with increasing consumer interest in newer, more efficient vehicles [24].