从二手车经理人指数走势分析，今年 12 月二手车经理人指数较往年同期出现明显回落，市场信心与经营预期同步走低。尽 管年底传统消费旺季为市场带来一定刚需支撑，但受新车大规模冲量降价、以旧换新补贴政策收尾引发的消费者观望情绪 等因素影响，最终呈现出 "旺季不旺" 的市场特征，行业景气度未能实现季节性回升。 调查显示，12月二手车市场需求有所减少，其中表示市场需求"减少"的比例为32.9%。 从二手车市场需求维度分析，受新车年终冲量促销分流、消费者年末购车观望情绪加剧等因素影响，12 月市场总体需求较 11 月呈现进一步收缩态势。 智通财经APP获悉，2026年1月5日，中国汽车流通协会发布新一期"中国二手车经理人指数"（UCMI）。本期UCMI结果显 示，12月份二手车经理人指数为47.1%，环比上升0.8个百分点、同比下降6.3个百分点，反映出12月二手车市场景气度较上 月有所改善，但仍处在不景气区间。 2024-2025年中国二手车经理人指数趋势图 12月份二手车市场需求 从二手车经理人反馈来看，12 月二手车市场呈现 "微增" 特征，一方面，受新车年终大规模促销分流、消费者购车决策推 迟等因素影响，整体交易 ...

Core Insights - The October used car manager index (UCMI) in China is reported at 47.8%, showing a slight month-on-month increase of 0.1 percentage points but a year-on-year decline of 3.8 percentage points, indicating a marginal improvement in market conditions while still remaining in a recessionary zone [1] Market Demand and Sales - October is traditionally a peak sales month for automobiles in China, with the "Golden Week" in early October contributing to a surge in used car market activity, leading to a 12.6% year-on-year increase in national automobile sales revenue during the holiday [4] - A survey indicates that 23.8% of respondents reported an increase in market demand for used cars in October, although the overall demand increase compared to September was not significant due to concentrated purchasing during the holiday [5] - The transaction volume of used cars saw a slight increase, with 23.4% of dealers reporting higher sales in October, suggesting a steady recovery in the market [7] Pricing and Inventory - The acquisition and sales prices of used cars remained stable in October, with 24.2% of managers reporting a decrease in acquisition prices and 13.5% noting an increase in sales prices [9] - There was a reduction in inventory levels among used car dealers, with inventory turnover times remaining stable, reflecting improved market activity and sales growth [11] Business Conditions - 24.2% of used car managers reported improved business conditions in October, indicating a further enhancement in dealer operations [13] - Despite signs of market recovery, dealers continue to face significant pressures, with many adopting a "low-margin, high-volume" strategy to accelerate cash flow, influenced by unstable end-consumer demand [18] Future Outlook - The expected UCMI for November is projected at 49.2%, still within the recessionary range, suggesting ongoing challenges for the industry despite recent improvements [19]

Core Insights - The China Automobile Circulation Association reported that the used car manager index for August this year is 43.1%, reflecting a year-on-year increase of 1.5 percentage points [1] Industry Summary - The used car manager index indicates a positive trend in the used car market, suggesting improved confidence among managers in the industry [1] - The year-on-year growth of 1.5 percentage points may signal a recovery or stabilization in the used car sector, which could attract more investment and interest [1]

调查显示，5月二手车交易量环比上月基本持平，认为销量"持平"的二手车经理人比例高于上月。 5月由于新车市场在五一期间加大价格优惠同时在地方促消费政策刺激下，部分潜在二手车客户转而购买新车，二手车交易 量环比有所下降。 智通财经APP获悉，6月5日，中国汽车流通协会发布新一期"中国二手车经理人指数"（UCMI）。本期UCMI结果显示，5月 份二手车经理人指数为44.9%，同比增长两个百分点，环比增长2.3个百分点，二手车经理人指数环比，反映二手车市场有 所回暖，但仍处在不景气区间。 2024-2025年中国二手车经理人指数趋势图 五一假期间，多地组织车展拉开了汽车促销的序幕，同时叠加"两新"政策，有力地促进新车及二手车销量的增长。但由于 新车价格波动影响持续，客户观望情绪蔓延，也有部分潜在二手车消费者转而购买新车，从而导致二手车购买需求及客流 下降，5月二手车交易量没有达到预期，二手车市场活跃度下降。 调查显示，5月二手车市场需求基本持平，其中表示市场需求"减少" 的二手车经理人比例相比上月有所减少，增加的比例 有微量增加。 5月主要受五一假期需求集中释放后的自然回调影响，市场虽呈现出小幅回升的态势，但整体增幅 ...

Core Insights - The latest "Used Car Manager Index" (UCMI) released by the China Automobile Dealers Association indicates a decline in the used car market, with the index at 42.6% in April, down 3 percentage points year-on-year and 5.6 percentage points month-on-month, reflecting a downturn in the market [1][3]. Market Demand - The used car market experienced a slight decrease in demand in April, influenced by the Qingming Festival and the Shanghai Auto Show, which led to increased consumer hesitation due to new car releases and price fluctuations [3][5]. - The proportion of used car managers reporting a decrease in market demand was higher than the previous month, indicating a growing consumer wait-and-see attitude [3][5]. Sales Volume - Used car transaction volume in April decreased compared to March, with a higher percentage of managers reporting a decline in sales [5][6]. - The impact of the "trade-in" policy was noted, but the overall effect was limited due to the timing of the Qingming Festival and the influx of new cars at the Shanghai Auto Show [5][6]. Pricing Trends - In April, the proportion of used car managers reporting stable acquisition and sales prices increased, suggesting that fluctuations in the new car market continued to affect the used car market without significant price changes [8]. Inventory Status - There was an increase in the proportion of used car managers reporting a decrease in inventory levels, as dealers adopted a cautious approach to reduce risks amid the approaching summer season [10]. - The inventory turnover time remained stable compared to the previous month, indicating that dealers are maintaining a fast-moving inventory strategy [10]. Operational Conditions - The proportion of used car managers rating their operational conditions as "average" increased, reflecting market pressures from the Qingming Festival and new car launches [13]. - Overall, the operational conditions in April showed little change compared to the previous month, indicating ongoing challenges in the market [13].