Core Insights - The second-hand car market in China is experiencing growth, with a transaction volume of 1.6575 million units in June 2025, reflecting a month-on-month increase of 3% and a year-on-year increase of 9% [1] - The total transaction value for second-hand cars reached 106.8 billion yuan in June 2025, showing a year-on-year increase of 9.2% [1] - For the first half of 2025, the cumulative transaction volume of second-hand cars was 9.57 million units, representing a year-on-year increase of 2%, while the transaction value was 623.2 billion yuan, which is a slight year-on-year decrease of 0.3% [1] Market Trends - The growth in new energy vehicle (NEV) sales is significantly impacting the second-hand car market, with the penetration rate of second-hand NEVs increasing from 3.6% at the end of 2022 to 11.3% by June 2025 [1] - The potential for the development of second-hand NEVs is substantial, driven by the rapid growth of the NEV market and stabilizing prices [1]