Core Insights - The second-hand car market in China showed a trading volume of 1.66 million units in July 2025, with a month-on-month increase of 0.2% and a year-on-year increase of 3.2% [1][4] - The total transaction amount for July reached 106.01 billion yuan, while the cumulative trading volume from January to July was 11.23 million units, reflecting a year-on-year growth of 2.17% [1][4] Market Performance - The average transaction price for second-hand cars in July was 63,800 yuan, down 700 yuan from the previous month and 1,300 yuan from the same month last year, indicating a continued downward trend in prices, although the rate of decline has narrowed [4] - The proportion of nearly new cars (under 3 years old) reached 26%, an increase of 1 percentage point compared to the same period last year, indicating improved supply of high-quality vehicles [4] - The average inventory turnover period extended to 45 days, indicating a slowdown in inventory turnover and increased capital occupation costs for dealers [4] Market Trends - The current trend in the automotive market is towards reduced new car price cuts and promotional efforts, which is expected to positively impact the second-hand car market by stabilizing consumer price expectations and stimulating demand [5] - The penetration rate of second-hand new energy vehicles surpassed 10% for the first time, becoming a significant variable in reshaping the market landscape [5] Vehicle Type Analysis - In July, basic passenger cars traded amounted to 924,100 units, with a month-on-month increase of 0.15% and a year-on-year increase of 0.5% [8] - The SUV segment saw 217,400 units traded, with a month-on-month increase of 0.57% and a year-on-year increase of 0.03% [8] - Commercial vehicles also showed positive performance, with 96,000 buses traded (up 7.87% year-on-year) and 147,000 trucks (up 10.62% year-on-year) [9] Regional Performance - The East China region experienced a decline in trading volume, with a total of 464,400 units, down 1.59% month-on-month [15] - The Northeast region stood out with a significant growth of 10.39%, trading 139,400 units in July [17] - The North China region saw a 2% increase in trading volume, totaling 260,100 units, with notable growth in Hebei and Shanxi provinces [16] Cross-Regional Flow - The second-hand car transfer rate reached 30.41%, an increase of 0.9 percentage points from the previous month and 1.4 percentage points year-on-year, with a total of 505,100 vehicles transferred [21]