Core Viewpoint - The emergence of "zero-kilometer used cars" is seen as a detrimental practice that undermines the foundation of the automotive circulation industry, as highlighted by Wei Jianjun, the chairman of Great Wall Motors [2][17]. Summary by Sections Definition and Market Response - "Zero-kilometer used cars" refer to vehicles that have been registered but not sold to end users, essentially new cars sold at used car prices, leading to concerns about their reliability and potential for misrepresentation [2][5]. - Some used car dealers defend the practice, arguing that lower prices benefit consumers, while others express concerns about after-sales service and the risk of odometer fraud [2][5]. Regulatory Actions - Regulatory bodies, including the Ministry of Commerce, have begun discussions with automotive manufacturers and used car platforms regarding the implications of "zero-kilometer used cars" [3]. Market Dynamics - The supply of "zero-kilometer used cars" comes from various sources, including 4S dealerships and manufacturers, often as a means to clear inventory [6][9]. - The price of these vehicles is significantly lower than that of new cars, which has contributed to their increasing prevalence in the market [6][9]. Industry Insights - The traditional used car market is struggling, prompting dealers to pivot towards "zero-kilometer used cars" as a more profitable alternative [9][11]. - The financial pressures on manufacturers due to unsold inventory have led to collaborations with used car dealers to manage stock effectively [11]. Statistical Data - In 2024, the total transaction volume of used cars in China is projected to reach 19.61 million units, with "zero-kilometer used cars" potentially accounting for 463,400 to 855,000 units [12]. - The proportion of "zero-kilometer used cars" in the traditional fuel vehicle market is estimated to be between 1% to 3%, while in the new energy vehicle market, it ranges from 3% to 5% [7][12]. Consumer Behavior - The typical buyers of "zero-kilometer used cars" include budget-conscious young consumers, business owners, and traditional used car dealers seeking profit margins [14]. Risks and Concerns - The practice of selling "zero-kilometer used cars" raises concerns about misleading sales data and potential financial misrepresentation, which could have serious implications for companies involved [15][16]. - Recommendations have been made for regulatory bodies to establish a vehicle lifecycle tracking system to enhance transparency and accountability in the market [17].

Core Viewpoint - The emergence of "zero-kilometer used cars" is causing significant controversy in the automotive industry, with concerns about their impact on the market and potential risks for consumers [2][4][10]. Group 1: Definition and Market Dynamics - "Zero-kilometer used cars" refer to vehicles that have been registered but not sold to end users, essentially new cars sold at used car prices [2][3]. - The pricing of "zero-kilometer used cars" is significantly lower than that of new cars, often by tens of thousands of yuan, which has led to their increased presence in the market [4][5]. - The traditional used car market is struggling, prompting dealers to shift towards "zero-kilometer used cars" as a more profitable business model [5][6]. Group 2: Industry Reactions and Regulatory Actions - The chairman of Great Wall Motors, Wei Jianjun, has publicly criticized "zero-kilometer used cars," highlighting their potential to undermine the automotive distribution foundation [2][10]. - Regulatory bodies, including the Ministry of Commerce, are reportedly convening discussions with automotive manufacturers and used car platforms to address the issues surrounding "zero-kilometer used cars" [2][6]. Group 3: Market Statistics and Projections - In 2024, the total transaction volume of used cars in China is projected to reach 19.61 million units, with "zero-kilometer used cars" accounting for an estimated 46,340 to 855,000 units [7]. - The export of "zero-kilometer used cars" is also significant, with over 90% of exported new energy used cars being classified as such [6][7]. Group 4: Consumer Concerns and Risks - Consumers are expressing concerns about the reliability and potential hidden issues of "zero-kilometer used cars," including the risk of odometer tampering [2][8]. - Experts warn that the existence of "zero-kilometer used cars" may distort market demand and mislead manufacturers and investors regarding actual sales figures [8][9]. Group 5: Recommendations and Future Outlook - Industry experts suggest the establishment of a vehicle lifecycle tracking system to enhance transparency and accountability in the sale of "zero-kilometer used cars" [10]. - Addressing the underlying issues of price wars and regulatory discrepancies is essential for resolving the challenges posed by "zero-kilometer used cars" in the market [10].

Core Viewpoint - The emergence of "zero-kilometer used cars" has sparked widespread attention and debate within the automotive market, highlighting the complexities of market competition, sales strategies, and policy environments [2][13]. Group 1: Market Dynamics - The proportion of "zero-kilometer used cars" in the used car market surged to 12.7% in 2024, a significant increase of 7.2 percentage points over four years [3]. - Intense competition in the automotive market has led manufacturers to set challenging sales targets, resulting in dealers selling vehicles beyond market demand, which contributes to the rise of "zero-kilometer used cars" [3][4]. - Overcapacity in the automotive industry, particularly in rapidly changing segments, has forced dealers to register unsold new cars as used cars to alleviate inventory pressure [4]. Group 2: Policy and Regulatory Aspects - The phenomenon of "zero-kilometer used cars" has been exacerbated by loopholes in government subsidy policies, allowing dealers to exploit these for profit [4][12]. - A proposed seminar by the Ministry of Commerce aims to address the issues surrounding "zero-kilometer used cars," indicating a potential shift towards regulatory measures [2][13]. Group 3: Consumer Perspectives - Consumer opinions on "zero-kilometer used cars" are polarized, with some attracted by the lower prices while others are concerned about the loss of first-owner benefits and potential depreciation [6][7][8]. - Data indicates that "zero-kilometer used cars" can depreciate 15%-20% more than regular used cars upon resale, raising concerns about their long-term value [7]. Group 4: Industry Implications - The sale of "zero-kilometer used cars" presents unique advantages for dealers, including lower after-sales risks and the ability to sell in bulk through modern sales channels like live streaming [9]. - The ongoing challenges posed by "zero-kilometer used cars" necessitate a multi-faceted governance approach to ensure market sustainability and consumer protection [12][13].

Core Viewpoint - The issue of "zero-kilometer used cars" has emerged as a significant topic of discussion, revealing a fraudulent practice where unsold new cars are registered as used cars to inflate sales figures and mislead the capital market about the true supply and demand in the industry [1] Group 1: Industry Practices - "Zero-kilometer used cars" refer to new cars that are registered but not used, circulating as used cars, which creates a false market prosperity [1] - This practice involves a gray industrial chain with participation from traditional car manufacturers and new energy brands, indicating widespread involvement across the industry [1] - The manipulation of vehicle registration and resale undermines the integrity of market data and can lead to misinterpretation of industry health [1] Group 2: Consumer Impact - Consumers face hidden and long-term damages from "zero-kilometer used cars," including the loss of exclusive rights such as lifetime warranties once the car is transferred [1] - The resale value of these vehicles is significantly affected, as it is calculated based on the initial registration date, leading to substantial depreciation [1] - Long-term inventory issues can result in vehicle problems such as battery depletion and tire deformation, further impacting consumer interests [1] Group 3: Regulatory Recommendations - There is a need for enhanced regulation on the registration and market entry of used cars, including the establishment of a vehicle lifecycle traceability system using blockchain technology for transparency [2] - The industry should promote self-discipline among leading companies to move away from a focus solely on sales figures and avoid chaotic competition [2] - Consumer education is essential, advocating for practices such as the "three checks and three looks" method to ensure informed purchasing decisions [2] Group 4: Future Outlook - As China transitions from an "automobile power" to an "automobile strong power," addressing the "zero-kilometer used car" issue is crucial for high-quality development in the automotive sector [2]

Group 1 - The Ministry of Commerce organized a seminar to discuss the promotion of zero-kilometer used cars and the circulation of used car consumption [1] - Participating organizations include the China Automobile Industry Association, China Automobile Circulation Association, and various car manufacturers such as Dongfeng Group and BYD [1] - A representative from Dongfeng Group indicated that the meeting aimed to guide used car exports and standardize the zero-kilometer used car market [1]

Core Viewpoint - The phenomenon of "zero kilometer used cars" has gained attention following a statement from Great Wall Motors' chairman, Wei Jianjun, highlighting the confusion and irregularities in the market for these vehicles [1][2]. Group 1: Market Dynamics - The automotive market has become increasingly competitive, leading manufacturers to implement incentive policies to encourage dealers to clear inventory, resulting in the registration of new cars as used cars to meet sales targets [2][3]. - Dealers often register new vehicles as used cars to qualify for manufacturer rebates, creating a situation where vehicles with very low or zero mileage are sold as "used" [2][3]. Group 2: Zero Kilometer Used Cars - "Zero kilometer used cars" refer to vehicles that have completed registration but have minimal or no actual mileage, creating a misleading classification in the market [1][2]. - The practice of selling zero kilometer used cars has become common among dealers, driven by the need to meet sales quotas and take advantage of favorable manufacturer policies [2][3]. Group 3: Export Opportunities - The zero kilometer used car phenomenon is not limited to the domestic market; it also appears in the context of parallel exports, where these vehicles are shipped overseas to tap into higher profit margins [3]. - Numerous certified used car export companies have emerged in China, sourcing vehicles primarily from domestic dealers and some new energy vehicle manufacturers, with a significant focus on zero kilometer used cars for export [3].

Core Viewpoint - The article discusses the tax implications for businesses involved in the sale of second-hand vehicles, detailing various tax rates and regulations applicable to such transactions [3][7][9]. Tax Types and Rates - **Value-Added Tax (VAT)**: Businesses selling second-hand vehicles are subject to a reduced VAT rate of 0.5% from May 1, 2020, to December 31, 2027. The sales amount is calculated using the formula: Sales Amount = Tax Sales Amount / (1 + 0.5%) [3][4]. - **Urban Maintenance and Construction Tax**: The tax rate varies based on the location of the taxpayer, with rates of 7% for urban areas, 5% for county towns, and 1% for other locations [7]. - **Education Fee Surcharge**: This is charged at a rate of 3% based on the actual VAT, business tax, and consumption tax paid [7]. - **Local Education Surcharge**: This is calculated at 2% of the actual VAT, business tax, and consumption tax paid within the province [7]. - **Stamp Duty**: No stamp duty is required for the sale of second-hand vehicles as the contracts do not fall under the taxable scope [8]. - **Corporate Income Tax**: The standard rate is 25%, but small and micro enterprises may benefit from a reduced rate of 5% under certain conditions [9][10]. Additional Information - The article highlights that from January 1, 2023, to December 31, 2027, small-scale VAT taxpayers and small micro enterprises can enjoy a 50% reduction in various taxes, including urban maintenance and construction tax, property tax, and education fees [10].

Group 1 - The implementation of the vehicle trade-in policy has led to a significant increase in the number of vehicles being scrapped, with 322.5 million applications for subsidies by May 11, 2025, and 103.5 million vehicles scrapped, accounting for nearly one-third of the total [2][3] - The number of scrapped vehicles reached 7.872 million in 2024, a year-on-year increase of 70.7%, with over 2.92 million vehicles scrapped and more than 3.7 million vehicles replaced, generating over 920 billion yuan in sales [3] - The current trend shows that many vehicles with low mileage and good condition are being scrapped due to the higher subsidies offered, raising concerns about the waste of still-valuable vehicles [4][5] Group 2 - Industry experts have differing opinions on the scrapping of relatively new vehicles, with some arguing that older vehicles are often outdated in design and energy efficiency, while others believe that vehicles around ten years old still have significant value and should not be scrapped prematurely [5][6] - The recycling industry for scrapped vehicles is still in its early stages, with many reusable parts being treated as waste, indicating a need for improved standards and practices in the dismantling process [6][7] - There is potential for exporting scrapped vehicles to markets with high demand, such as Southeast Asia and Africa, where older vehicles may still hold value, suggesting a need for policy optimization regarding the export of used vehicles [8]

全年方面，优信集团总交易量达26，148辆，同比增长73.2%；总收入为18.144亿元，同比增长29.7%。 零售交易量达21，773辆，同比增长133.8%；全年毛利率提升至6.8%。全年调整后EBITDA亏损大幅收 窄至8，080万元，同比减亏近54%。 优信集团首席财务官林峰表示，2024年，优信零售交易量持续高增长，盈利能力持续改善，对2025年实 现全年调整后EBITDA盈利充满信心。 优信创始人、董事长兼CEO戴琨指出，将继续以超级大卖场模式为核心，稳步推进新区域展业，扩大业 务规模和盈利水平，并继续完善线上线下协同的大卖场网络。目前，武汉超级大卖场已经试营业，郑州 大卖场也将按照计划在下半年实现营业。公司预期2025年优信零售销量增长再次超过100%，并首次实 现全年经调整后EBITDA盈利。（闫妍） 责任编辑：何俊熹 新浪科技讯 4月30日下午消息，优信集团（NASDAQ：UXIN）发布2024年第四季度及全年未经审计财 报。 数据显示，2024年第四季度，优信集团总交易量达9439辆，同比增长116.8%；总收入达5.97亿元人民 币，环比增长20.0%，同比增长45.4%；零售交易量为8 ...

Group 1 - The government work report emphasizes the need to boost consumption and improve investment efficiency to expand domestic demand comprehensively [1] - Zhang Hongwei, a representative from Shandong Province, highlights that domestic demand is a fundamental driver of economic development and a necessary requirement to meet the growing needs of the people [1] - Since last year, Zaozhuang has leveraged the "two new" policy window to organize promotional activities for major consumer goods such as automobiles, home appliances, and home decoration, successfully attracting the JD Smart Logistics Park project [1] Group 2 - Zaozhuang is actively developing diverse consumption potentials through live e-commerce and second-hand car trading, while also enhancing cultural empowerment and tourism [1] - The city has launched various tourism routes and innovative consumption scenarios, including slow city living, cultural research, and leisure ecology, aiming to create a year-round, shared experience for both residents and visitors [1] - Zhang Hongwei states that Zaozhuang will focus on project construction as a key measure to promote investment and stabilize growth, closely monitoring project planning, recruitment, construction, and production [2]