落地八折的二手车、粗放的交易模式，鱼龙混杂的交易主体、剧烈洗牌的二手车商，构成了二手车交易 市场中的方方面面。 杨超（化名）几乎每天都会分享最新的二手车市场行情，而在全国多个地区的二手车交易市场，车商们 拍摄短视频、直播卖车已成为常态，他们需要通过这样的形式获取更多的客源。与几年前不同，如今的 二手车市场获客成本越来越高，生意难做、行情低迷，亏损是多数车商的现实写照。 硬币的另一边，是二手车保值神话已经破灭。"前几年受疫情影响，消费力下降，大家买车更谨慎；这 两年又赶上新车市场结构大变，新能源新势力扎堆降价，燃油车新车也跟着促销，二手车的残值根本扛 不住。"杨超说。 第一财经记者近日走访二手车市场时发现，二手车的价格与新车市场价格相关，同时也与保值率挂钩。 一些热销的日系车和保时捷也曾因高保值率一度被称为理财产品，但随着新车价格竞争越来越激烈，二 手车的保值率越来越低。 新能源二手车保值率低的问题一直被市场热议。第一财经记者调查发现，新能源二手车"落地打八折"并 非空穴来风。 据中国汽车流通协会和精真估联合发布的《2025年4月中国汽车保值率研究报告》，在2025年4月一年车 龄主要纯电动车型保值率榜单中，除 ...

Core Insights - The depreciation rate of new energy vehicles (NEVs) in the second-hand market is significantly higher compared to traditional fuel vehicles, with many NEVs losing over half their value within three years [1][3][4] - The low resale value of NEVs is primarily attributed to frequent new model releases and price cuts, leading to a chaotic pricing structure in the market [5][6] - The penetration rate of second-hand NEVs is increasing, rising from 3.6% at the end of 2022 to 9.1% by April 2025, indicating a growing market potential [2] Group 1: Depreciation and Resale Value - The Polestar 2, registered in October 2021, has a resale price of 78,000 yuan, only 17% of its original price of 467,100 yuan, while the Polestar 4, registered in December 2023, is priced at 140,000 yuan, about 30% of its new price [1] - Data from Guazi shows that NEVs typically experience the highest depreciation in the first year, with over 10% of NEVs having a first-year resale value below 50% [3] - Brands with higher new car sales, such as Tesla and NIO, tend to have better resale values, with some Tesla models retaining over 60% of their value after three years [3] Group 2: Market Dynamics - The second-hand NEV market is still significantly smaller than the fuel vehicle market, with NEVs often requiring appointments for viewing, while fuel vehicles are readily available [4] - The ongoing "price war" in the new car market is impacting the second-hand market, forcing dealers to adopt a fast-moving sales model to avoid losses [5][6] - The rapid technological advancements in NEVs lead to older models becoming less competitive, further driving down their resale values [6] Group 3: Export Opportunities - The export of second-hand vehicles, including NEVs, is on the rise, with Zhejiang Province leading in this sector, and policies are being implemented to support this growth [8][9] - The demand for second-hand NEVs in international markets, particularly in Africa and the Middle East, is increasing, with domestic brands gaining attention [9]

Core Viewpoint - The competition in the automotive market, particularly in the new energy vehicle (NEV) sector, has intensified, leading to significant price fluctuations and concerns regarding the depreciation of used NEVs [2][3]. Group 1: Price Fluctuations and Market Dynamics - In early 2025, predictions indicated that competition in the automotive market would become increasingly fierce, which has proven accurate as 15 automotive brands announced new purchase incentives starting in January [2]. - By May, a new wave of price fluctuations emerged, particularly affecting the used car market, with NEVs being notably impacted [2]. - A report indicated that the top five pure electric vehicles with the highest one-year resale values included models like Xiaomi SU7 (88.7%), AITO M9 (85.2%), and Tesla Model 3 (75.7%), challenging the perception that NEVs depreciate rapidly [2]. Group 2: Used NEV Market Observations - Despite reports of price drops, many used car dealers in Beijing and Nanjing noted that while prices for used NEVs are fluctuating, they have not reached a "collapse" state [3]. - Dealers reported that the price of a 2024 Tesla Model 3 had decreased to approximately 185,000 yuan from a new car price of 231,900 yuan, reflecting a depreciation rate of about 80% [3]. - A significant decline in transaction volumes for used NEVs was observed, with sales dropping from over 20 units per month to around 10, attributed to consumer hesitance and concerns over pricing and vehicle quality [3]. Group 3: Factors Affecting Resale Value - The low resale value of used NEVs is a major factor hindering their market penetration compared to traditional vehicles [5][6]. - Rapid technological advancements in NEVs lead to quicker obsolescence of older models, negatively impacting their resale value [8]. - The lack of standardized assessment criteria for used NEVs results in significant price discrepancies among dealers, complicating consumer purchasing decisions [7]. Group 4: Consumer Concerns and Market Perception - Consumers express concerns regarding the longevity of NEV batteries and the overall condition of used vehicles, which affects their willingness to purchase [3][6]. - The perception of NEVs as having lower resale values compared to traditional fuel vehicles leads many consumers to prefer the latter [6]. - The absence of robust after-sales service for used NEVs further exacerbates consumer apprehension, as many brands do not offer comparable support for used vehicles [7]. Group 5: Future Outlook and Recommendations - Experts suggest that for NEVs to achieve higher resale values, they must establish strong brand recognition, consistent product quality, and comprehensive after-sales service [12]. - The current high resale value of models like Xiaomi SU7 may not be sustainable in the long term due to increasing competition and market saturation [12]. - Companies are encouraged to focus on stabilizing new car prices to positively influence the resale market, as ongoing price wars could lead to further depreciation of used NEVs [14].