果然财经 | 小米二手车一年跌十万？业内人士：正常 暂无评论 鲁ICP备15022957号-13 鲁公网安备 37010202002220号 鲁新网备案号201000101 电信增值业务许可证： 鲁B2-20120085 热门评论我要评论 微信扫码 移动端评论 最近，网上关于小米二手车价格崩盘的声音传得沸沸扬扬。这一次，许久不发声的雷军亲自下场回 应："小米二手车保值率为80.1%，处于行业头部水平。"与此同时，首批YU7车主正经历着从订单锁定 到实际提车的五味杂陈。舆论场的巨大声浪，究竟折射出小米汽车的何种真实境遇？小米二手车市场真 的崩盘了吗？带着诸多疑问，记者探访济南二手车市场，感受小米汽车的真实境遇。 果然财经 | 小米二手车一年跌十万？业内人士：正常 大众报业·齐鲁壹点14:46 齐鲁晚报·齐鲁壹点 版权所有(C) All Rights Reserved 联系电话：0531-82625462邮箱： 1790179766@qq.com ...

Core Viewpoint - Xiaomi Group's founder Lei Jun officially responded to recent discussions regarding the "Xiaomi used car market," citing authoritative data from the China Automobile Circulation Association, which indicates that the Xiaomi SU7 currently maintains a used car value retention rate of 80.1%, placing it at the forefront of the industry [1][3] Group 1 - The controversy arose from recent online videos and self-media reports claiming "chaotic pricing in the Xiaomi used car market" and "dealer speculation" [3] - Lei Jun's direct citation of the authoritative report is seen as a positive clarification against the related rumors [3] - The China Automobile Circulation Association is recognized as an authoritative industry organization in the domestic automobile circulation field, and its value retention report is typically regarded as an important market reference based on real used car transaction data nationwide [3] Group 2 - Industry insiders suggest that the negative rumors surrounding the Xiaomi SU7 used cars may be tactics employed by individual used car dealers or online influencers to gain attention and accelerate vehicle turnover [3] - These parties may create narratives of "conflict" or "price anomalies" to attract attention, a phenomenon that occurs frequently during rapid developments in the new energy vehicle market and the fast-paced exchange of old and new information [3]

Core Insights - The article discusses the current state of the used car market in China, highlighting the disparity between reported car value retention rates and actual selling experiences for individual sellers [20][24]. - It emphasizes the role of platforms like Guazi in bridging the gap between buyers and sellers, enhancing transaction efficiency and trust [27][29]. Group 1: Used Car Value Retention - The 2025 used car value retention report indicates that traditional fuel vehicles, particularly from brands like Toyota and Honda, maintain strong value, with three-year retention rates above 65% [18][19]. - In contrast, electric vehicles (EVs) like the Xiaomi SU7 show a one-year retention rate of 91.78%, while some luxury brands struggle, with models like BMW i3 retaining only about 45% [18][19]. Group 2: Market Dynamics - The used car market is experiencing high activity, with over 11.2 million vehicles exchanged through trade-in programs from January to November 2025, and a peak used car transfer rate of 33.1% in October 2025 [19][20]. - The disparity in selling experiences arises from the complex transaction structure, where 84% of used cars do not sell directly to individual buyers but go through intermediaries like dealerships [24][25]. Group 3: Challenges in Selling - Individual sellers often face challenges due to a lack of trust and transparency in personal-to-person transactions, leading to lower offers from dealers compared to expected market values [26][25]. - The article notes that selling directly to individuals can be inefficient due to limited exposure and geographical constraints, making it difficult for sellers to reach potential buyers willing to pay higher prices [26][27]. Group 4: Role of Guazi - Guazi plays a crucial role in eliminating geographical limitations, allowing sellers to reach a broader audience, with over 100 million users engaging on the platform daily [27][29]. - The platform enhances trust through comprehensive vehicle inspections and transparent pricing based on real transaction data, enabling competitive bidding between individual buyers and professional dealers [29][30]. Group 5: Underestimated Vehicles - Certain categories of used cars, such as EVs, high-end luxury vehicles, older cars, and niche models, are often undervalued in traditional markets but can achieve fair market prices through Guazi's platform [30][31]. - The article provides examples of individual sellers who successfully sold their vehicles at higher prices than local dealers offered, thanks to Guazi's nationwide reach and intelligent pricing systems [33][34]. Group 6: Future Outlook - As the trend of vehicle trade-ins continues, the pricing capabilities and efficiency of platforms like Guazi will significantly impact how sellers maximize their vehicle values [35].

Core Insights - The report provides insights into the second-hand car market, addressing common concerns of car owners regarding selling prices and timing [1][13] - It emphasizes the importance of using reliable data sources for assessing car value, highlighting the limitations of average depreciation rates [2][3] Market Dynamics - The valuation of second-hand cars is influenced by various factors including vehicle condition, accident history, and market demand, which can lead to discrepancies between expected and actual selling prices [2][7] - The report indicates that the depreciation of second-hand cars is not linear, with significant value loss occurring in the first few years, particularly for fuel vehicles and electric vehicles [8][10] Selling Strategies - To maximize selling price, car owners should consider timing their sale during peak demand periods and focus on popular models and good vehicle conditions [7][10] - The report suggests that selling fuel vehicles within three years and electric vehicles within two years can help retain more value [10] Cross-Regional Selling - The trend of cross-regional sales is increasing, with online platforms facilitating broader market access, allowing sellers to reach buyers in areas with higher demand [11][12] - The report notes that the cross-province transaction rate on the platform is significantly higher than the industry average, indicating a shift in how second-hand cars are traded [11] Platform Advantages - The platform offers advantages for individual sellers by eliminating intermediaries, providing transparent vehicle assessments, and generating accurate market pricing based on extensive transaction data [12] - The report positions the platform as a key player in enhancing consumer confidence in the second-hand car market, aiming to help sellers achieve better prices with less depreciation [13]

Core Insights - Guazi used its 2025 real transaction data to release a trend report, highlighting the depreciation rates of various car models, with the Xiaomi SU7 leading the new energy category at over 90% one-year retention rate [2][6] Depreciation Rates - In the new energy vehicle segment, the Xiaomi SU7 tops the list, followed by Geely and Li Auto [2][6] - Traditional joint venture brands dominate the fuel vehicle market, with Toyota and Honda holding four out of the top ten spots for three-year retention rates, maintaining over 65% [2][6] - Some overseas luxury brands, such as the Range Rover Evoque and Volvo S60, show a significant decline in retention rates, dropping to around 40% [2][6] - The overall depreciation of used cars is not linear; the first-year retention rate for fuel vehicles is approximately 66%, with nearly 50% depreciation by the third year, stabilizing thereafter [2][6] - New energy vehicles experience a more concentrated depreciation pattern, with prices nearly halving after two years and a further 9% drop in the third year, stabilizing after that [2][6] Sales Rankings - The sales ranking shows that the Haval H6 leads in transaction volume in the fuel vehicle market, maintaining a high retention rate [3][7] - Traditional popular models from Volkswagen, such as the Polo and Lavida, continue to have stable demand in the used car market [3][7] - In the new energy category, the Hongguang MINI EV is the highest-selling model due to its low entry price, while Tesla's Model Y and Model 3 rank second and third, respectively, being the only foreign brands in the top ten [3][8] - Tesla maintains a strong influence in the new energy used car market overall [4][8]

Core Insights - The central theme of the articles highlights the ongoing support for automotive consumption in China, particularly through the "trade-in" policy, which is expected to maintain high demand in 2026, especially for used cars [1] - The rise of new energy vehicles (NEVs) is contrasted with the stability of traditional fuel vehicles, showcasing the varying depreciation rates and market dynamics between these segments [2][4] Group 1: Automotive Consumption Trends - The "trade-in" policy will continue to be a key initiative in promoting automotive consumption, with a focus on used car exchanges [1] - In 2025, over 11.2 million cars were traded in under the "trade-in" program, indicating a strong demand for vehicle replacement [1] - The high transfer rate of used cars, reaching 33.1% in October 2025, suggests a breaking down of regional barriers, facilitating smoother transactions [1] Group 2: Depreciation Rates and Vehicle Value - Fuel vehicles experience significant depreciation, with a first-year value retention of approximately 66%, while the third-year depreciation approaches 50% [4] - New energy vehicles see a sharper depreciation curve, with values nearly halving within two years, suggesting a need for timely trade-ins to maximize value [4] - The best time to sell fuel vehicles is within three years, while new energy vehicles should ideally be traded within two years to avoid rapid value loss [4] Group 3: Market Performance of Vehicle Brands - Traditional fuel brands like Toyota and Honda maintain strong resale values, with models like the Highlander and Accord retaining over 65% of their value after three years [2][3] - In contrast, some luxury brands, such as Land Rover and Volvo, show declining resale values, with rates around 40% [2][3] - Among new energy vehicles, Xiaomi's SU7 leads with a one-year retention rate exceeding 90%, while traditional luxury brands struggle to compete in this segment [2][3] Group 4: Regional Market Dynamics - The second-hand car market shows significant regional preferences, with Beijing having the highest average transaction price exceeding 100,000 yuan, while provinces like Gansu and Inner Mongolia show more tolerance for older vehicles [9] - The penetration rate of second-hand new energy vehicles has increased from 3.6% at the end of 2022 to 11.2% by October 2025, with southern regions showing stronger demand compared to northern areas [11] - Cross-regional transactions are becoming commonplace, with platforms like Guazi facilitating a significant volume of sales across provinces, enhancing market accessibility [8]

Core Viewpoint - The second-hand car market is experiencing significant challenges, including rising customer acquisition costs, declining vehicle resale values, and a shift in consumer preferences towards new cars, particularly in the context of the increasing competition from new energy vehicles [3][4][16]. Summary by Sections Market Dynamics - The second-hand car market is characterized by a mix of trading entities and a chaotic trading environment, leading to a significant reshuffle among dealers [4][13]. - The depreciation of second-hand cars has become pronounced, with many vehicles losing substantial value shortly after purchase, often dropping to around 80% of their original price [6][7]. Valuation Trends - A report from the China Automobile Circulation Association indicates that most pure electric vehicles have a one-year depreciation rate below 80%, with many models around 70% [6]. - Specific models, such as the BYD Han, have seen drastic price drops, with some vehicles losing over 50% of their value within two years [6][7]. Brand-Specific Insights - Different brands exhibit varying resale values, with NIO's rental battery models experiencing particularly low demand and high depreciation [7][8]. - Tesla stands out in the second-hand market due to its relatively stable resale value and strong demand, especially in regions like Shanghai [8][9]. Market Challenges - The second-hand car market is facing a decline in sales due to several factors, including the competitive pricing of new cars, increased consumer awareness, and rising operational costs for dealers [16][17]. - Many dealers are struggling with low profit margins, with nearly 90% of dealers reporting a gross margin below 6% [15][17]. Industry Restructuring - The industry is undergoing a significant restructuring, with many small dealers exiting the market and a trend towards specialization in specific brands to mitigate risks [14][17]. - The current market environment has led to a focus on professionalization, with successful dealers adopting refined operational strategies to navigate the challenges [17].

Core Insights - The second-hand car market is facing increasing customer acquisition costs and declining profitability, leading to widespread losses among dealers [1][10] - The myth of high resale value for second-hand cars has been shattered due to changes in the new car market, particularly with aggressive pricing from new energy vehicles (NEVs) [1][2] - The market is experiencing a significant reshuffle, with many dealers exiting and only a few managing to remain profitable [10][12] Market Dynamics - The resale value of second-hand cars is closely linked to new car prices and depreciation rates, with many popular models now seeing lower resale values [1][2] - A report indicates that most pure electric vehicles have a one-year resale value below 80%, with many models around 70% [2] - The depreciation of certain models, such as the BYD Han, can exceed 50% within two years, highlighting the volatility in the market [2] Brand-Specific Insights - Different brands exhibit varying resale values, with NIO's rental electric vehicles showing particularly low resale values due to weak market demand [3][4] - Tesla stands out in the second-hand market with relatively stable prices and high demand, leading to quicker vehicle turnover for dealers [4][5] - The Xiaomi SU7 has experienced significant price drops due to market oversupply, demonstrating the cyclical nature of the second-hand market [5][10] Transaction Challenges - The second-hand car market is characterized by a lack of standardization, leading to a "one car, one condition, one price" approach, complicating transactions [6][8] - Many dealers do not provide after-sales support, relying on official warranties, which further complicates consumer trust [8][9] - The introduction of third-party inspection services, like "Check Doctor," aims to improve transparency regarding vehicle conditions, particularly for battery health [7][9] Industry Restructuring - The second-hand car industry has been undergoing a significant restructuring since 2020, exacerbated by economic fluctuations and changes in the automotive market [10][11] - A report indicates that nearly 90% of second-hand car dealers have a gross profit margin below 6%, with many facing operational losses [10][12] - The market is shifting towards specialization, with successful dealers focusing on one or two brands to better understand pricing dynamics and reduce risks [12]

Core Insights - The second-hand car market is facing increasing customer acquisition costs and declining profitability, with many dealers reporting losses due to a combination of factors including market saturation and fierce competition from new energy vehicles [1][10][11] - The myth of high resale value for second-hand cars has been shattered, particularly for new energy vehicles, as their depreciation rates have surged due to aggressive pricing strategies in the new car market [1][2][10] Market Dynamics - The second-hand car market is experiencing a significant shift, with the resale value of many models, especially electric vehicles, dropping sharply. For instance, many one-year-old electric models have a resale value below 80%, and three-year-old models often fall below 50% [2][3] - The market is characterized by a lack of standardization and transparency, leading to a "one car, one condition, one price" approach, which complicates transactions for consumers who may not fully understand the nuances of electric vehicle battery health [6][8] Brand Performance - Different brands exhibit varying resale values, with NIO's rental electric models showing particularly low resale values due to weak market demand and complex rental agreements that deter potential buyers [3][4] - Tesla stands out in the second-hand market with relatively stable prices and high demand, attributed to its strong brand presence and consumer confidence [4][5] Dealer Challenges - The second-hand car dealer landscape is undergoing a significant shake-up, with many small dealers exiting the market due to sustained losses. Reports indicate that nearly 90% of dealers have a gross profit margin below 6% [10][12] - Dealers face increased operational costs as they adapt to digital marketing strategies and customer engagement methods, which further compresses their profit margins [11][12] Consumer Behavior - Consumer preferences are shifting, with many potential buyers opting for new cars due to better marketing and pricing strategies, which has led to a decline in second-hand car sales [11][12] - The rise of information accessibility has empowered consumers, allowing them to make more informed decisions, thereby increasing their bargaining power in negotiations [11][12]

Core Viewpoint - The second-hand car market is experiencing significant challenges, including declining car values, increased competition, and a shift in consumer behavior towards new cars, particularly in the context of the rising popularity of electric vehicles [1][10][11]. Group 1: Market Dynamics - The second-hand car market is characterized by a mix of players and a lack of standardized trading practices, leading to a chaotic environment [1][6]. - The depreciation of second-hand cars, especially electric vehicles, has become pronounced, with many models losing substantial value shortly after purchase [2][4]. - The market for second-hand electric vehicles is particularly volatile, with brands like NIO experiencing significant drops in resale value due to low demand and complex ownership structures [3][10]. Group 2: Consumer Behavior - Consumers are increasingly cautious, with many opting for new cars due to aggressive pricing and marketing strategies, which diverts potential buyers from the second-hand market [11][12]. - The rise of online platforms has empowered consumers with better access to information, enhancing their bargaining power and reducing the margins for dealers [11][12]. Group 3: Dealer Challenges - Many second-hand car dealers are facing financial difficulties, with a significant portion operating at a loss, leading to a wave of market exits [10][12]. - The cost of customer acquisition has risen sharply, as dealers now rely on digital marketing and social media to attract buyers, which adds to their operational costs [11][12]. - The market is undergoing a consolidation phase, with successful dealers focusing on specialization and brand-specific strategies to mitigate risks [12]. Group 4: Valuation Trends - The depreciation rates for electric vehicles are alarming, with many models seeing values drop to around 50% after three years [2][3]. - Specific models, such as the BYD Han, have been reported to lose over 50% of their value within two years, highlighting the volatility in the second-hand electric vehicle market [2][4]. - The overall profitability of second-hand car dealers is under pressure, with many reporting margins below 6%, and a significant number operating with margins of 4% or less [10][11]. Group 5: Industry Responses - Major companies, such as CATL, are entering the second-hand electric vehicle market, offering buyback guarantees and comprehensive inspection services to enhance consumer confidence [9]. - The introduction of third-party inspection services is becoming more common, helping to address concerns about vehicle condition and battery health, which are critical for electric vehicles [7][9].