Core Insights - The average daily transaction volume in the used car market is projected to reach 71,200 units from December 29, 2025, to January 4, 2026, reflecting a slight increase of 1.4% compared to the previous week, indicating a stable and gradually warming market trend [1] Market Overview - Feedback from enterprise surveys indicates a mixed yet overall stable market sentiment, with 20% of surveyed companies reporting improved market conditions compared to the previous week, while over 40% believe the market remains stable [3] - More than 60% of companies reported stable used car prices without significant fluctuations, highlighting a relatively balanced supply-demand relationship [3] - Approximately 20% of companies mentioned slight price reductions due to year-end inventory clearance pressures, aimed at improving cash flow and inventory turnover [3] Seasonal Trends - The used car market is experiencing a steady upward trend as the year-end approaches, traditionally a peak consumption period, with consumers eager to finalize purchases before the new year [3] - Consumers focused on cost-effectiveness and new year vehicle upgrades are driving the increase in transaction volumes [3] Regional Performance - The overall used car market shows a slight recovery, with daily transaction volumes increasing in Northeast, North China, East China, and Central South regions, while the Southwest region saw a slight decline [6] - East China recorded an average daily transaction volume of 27,100 units, with notable growth in cities like Hangzhou and Wenzhou, both exceeding 20% growth [7] - North China reported an average daily transaction volume of 3,100 units, with cities like Shijiazhuang and Langfang showing significant increases, both over 20% [7] - Northeast region's average daily transaction volume reached 2,500 units, with cities like Changchun experiencing over 25% growth [8] - The Southwest region's average daily transaction volume decreased to 11,400 units, with Chengdu showing a notable decline of over 20% [8] - Central South region's average daily transaction volume was 26,200 units, with East Dongguan showing over 20% growth [9] - The Northwest region maintained an average daily transaction volume of 1,100 units, with cities like Lanzhou showing significant recovery [9]

Core Viewpoint - The latest "Used Car Manager Index" (UCMI) released by the China Automobile Dealers Association indicates a decline in the used car market's performance in November, with the index at 46.3%, reflecting a slight decrease from the previous month and year, suggesting the market remains in a downturn phase [1][4]. Market Demand - In November, 19.8% of surveyed managers reported a decrease in market demand for used cars, indicating a slight overall decline compared to October, attributed to the waning effects of the National Day holiday [5][7]. - Feedback from used car managers shows that 18.2% reported a decrease in transaction volume, while the proportion of those reporting stable transactions increased, indicating a stabilization in the market [7]. Pricing Trends - The survey revealed a decline in acquisition prices for used cars, with 24.4% of managers noting a decrease, while 73.1% reported that sales prices remained stable compared to the previous month [10]. - The overall balance in supply and demand has led to stable sales prices despite the drop in acquisition prices, driven by increased vehicle turnover and a higher influx of vehicles into the used car market [10]. Inventory and Operational Conditions - Inventory levels and turnover times for used car dealers remained stable compared to the previous month, reflecting no significant changes in inventory growth [12]. - A notable 24.0% of managers reported poor operational conditions, an increase from the previous month, with many indicating a decline in working capital by over 10% [14]. Market Outlook - The overall sentiment among used car managers is pessimistic, with an expected index of 45.5% for the following month, indicating continued challenges in the market [16].