智通财经APP获悉，中国汽车流通协会发布新一期"中国二手车经理人指数"(UCMI)。数据显示，2026年1月份二手车经理人 指数为46.5%，同比增长6.3个百分点，环比下降0.6个百分点，反映出2026年1月二手车市场景气度较上月微降，仍处在不 景气区间。 1月份二手车经理人指数 从二手车经理人指数走势来看，今年 1 月二手车市场处于新旧生态交替的关键阶段，一方面由于去年年底的翘尾效应，部 分消费者赶在以旧换新补贴政策收尾前夕购车，购车需求在12月提前释放，透支部分1月份的需求；另一方面，2026年两新 政策将报废补贴按固定补贴改为按新车售价的比例(单车补贴平均降 20%-30%)，置换补贴全国拉齐，同时对车辆持有时间 有严格要安全，地方置换补贴申领流程陆续出台，消费者观望情绪加重。同时二手车出口方面的新规也限制了，二手车出 口短期有所回落。 根据调查，1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28.8%。 从二手车市场需求维度分析，反映出消费者购车决策周期有所延长，观望情绪加剧，同时也有部分春节返乡出行、家庭置 换等刚性消费需求，2026年1月市场总体需求与去年12月略有回落。 调查显示 ...

Core Insights - The December used car manager index (UCMI) stands at 47.1%, reflecting a month-on-month increase of 0.8 percentage points but a year-on-year decrease of 6.3 percentage points, indicating a slight improvement in market conditions but still within a recessionary zone [1] Market Demand - The demand for used cars in December has decreased, with 32.9% of respondents indicating a reduction in market demand, influenced by year-end promotions for new cars and increased consumer hesitation [5] - Despite traditional year-end demand, the market exhibited a "旺季不旺" (旺季不旺) characteristic due to factors such as new car price cuts and the conclusion of trade-in subsidy policies [4] Pricing Trends - The acquisition and sales prices of used cars have decreased compared to the previous month, with 37.5% of managers reporting a decline in acquisition prices and 20.7% noting a drop in sales prices [11] - The ongoing pressure from new car promotions and weak demand has led to a simultaneous decline in both acquisition and sales prices in the used car market [11] Inventory and Operational Conditions - There has been a reduction in used car inventory, but the turnover time has increased, indicating that dealers are controlling inventory levels due to shrinking demand and the impact of new car promotions [13] - 24.0% of used car managers reported "average" operational conditions, reflecting significant pressure on dealers, with 30% indicating a decline in turnover funds by over 10% [15] Future Expectations - Dealers are cautious about future expectations, with a forecast index of 46.4%, remaining in a recessionary zone, indicating a lack of confidence in market recovery [19]

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]

Core Insights - The latest "Used Car Manager Index" (UCMI) released by the China Automobile Dealers Association indicates a slight recovery in the used car market, with the index at 44.9% in May, reflecting a year-on-year increase of 2 percentage points and a month-on-month increase of 2.3 percentage points, although it remains in a recessionary zone [1] Market Demand - During the May Day holiday, various regions organized auto shows that boosted both new and used car sales, but ongoing price fluctuations in the new car market led to a decline in used car purchasing demand as some potential buyers opted for new cars [3][6] - The demand for used cars in May remained relatively stable, with a slight decrease in the proportion of used car managers reporting reduced demand compared to the previous month [3][6] Sales Volume - The used car transaction volume in May was largely flat compared to the previous month, with a higher proportion of used car managers indicating that sales were "stable" [6] - The new car market's price discounts during the May Day holiday contributed to a decrease in used car transaction volume as some customers shifted their focus to new cars [6] Pricing Trends - In May, both the acquisition and sales prices of used cars remained stable compared to the previous month, although there was a slight increase in the proportion of used car managers reporting price increases [9] - The fluctuations in new car prices continued to impact the used car market, but increased exhibition activities led to a greater influx of quality vehicles into the used car market, prompting minor adjustments in acquisition and sales prices [9] Inventory Situation - The proportion of used car managers reporting an increase in inventory levels rose in May, driven by a surge in quality vehicle sources entering the market, while the overall market activity and transaction volume declined [11] - The inventory turnover time in May remained stable compared to the previous month, despite the increased inventory pressure [11] Business Conditions - The proportion of used car managers reporting "average" business conditions increased, indicating continued pressure on the operations of used car dealers [13] - The market growth remained weak in May due to multiple factors, including the holiday demand release and new car price discounts [13] Future Outlook - Looking ahead, used car managers anticipate a significant reduction in market activity as the automotive market enters the traditional off-season, with expectations of a decline in used car transaction volume in June compared to May [15][16] - The expected index for June is projected to be 40.5%, indicating that the used car market will continue to be in a recessionary zone [16]

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].