Core Viewpoint - The phenomenon of "zero-kilometer used cars" is gaining attention in the market, where vehicles are sold at prices significantly lower than new cars, raising concerns about market dynamics and consumer protection [1][2]. Group 1: Market Dynamics - The circulation of "zero-kilometer used cars" is increasing, with 12.7% of the used car market consisting of vehicles registered for less than 3 months and having mileage under 50 kilometers, indicating a significant impact on new car sales and pricing structures [2]. - The presence of these vehicles is expected to disrupt the profit margins of new car retailers, leading to a potential decline in new car sales and increased pressure on manufacturers to adopt aggressive market strategies [2][4]. Group 2: Consumer Risks - Consumers purchasing "zero-kilometer used cars" may face hidden risks, including the loss of warranty rights, as many manufacturers only provide warranty coverage to the first owner, which could lead to high repair costs for subsequent owners [3]. - The export of "zero-kilometer used cars" to overseas markets has raised concerns about anti-dumping allegations and potential tariffs, posing a threat to the reputation and interests of Chinese automotive manufacturers [3]. Group 3: Regulatory Response - The industry is experiencing a push for regulatory measures to address the "zero-kilometer used car" phenomenon, with the Ministry of Commerce and the China Automotive Industry Association advocating for fair competition and the cessation of price wars [4][5]. - Initiatives are being implemented to promote healthy market practices, including enhancing product consistency checks and enforcing regulations against unfair competition, aimed at fostering a sustainable automotive industry [4][5].

Core Insights - The second-hand car market is facing significant challenges despite the influx of vehicles due to government policies promoting vehicle replacement, leading to a shift from quantity accumulation to quality enhancement in the industry [2][5] - The industry is at a crossroads, grappling with issues such as price competition, lack of transparency, and the need for new profit models [3][4] Industry Challenges - In 2024, only 3 out of 16 listed second-hand car companies reported profit growth, while 8 companies faced losses, indicating a tough market environment [3] - The cumulative transaction volume of second-hand cars in the first five months of the year reached 7.91 million units, showing a slight year-on-year increase of 0.62%, but growth is slowing [3] - Key challenges include difficulties in acquiring vehicles, maintaining value, selling cars, and slow turnover, exacerbated by intense competition from the new car market [3][4] Trust and Transparency Issues - Many second-hand car operators have historically compromised on integrity, leading to issues like misrepresentation of vehicle conditions and high transaction costs [4] - The lack of a unified and rigorous vehicle condition assessment standard hampers the development of a trustworthy market [4] Path to Transformation - The industry is exploring diverse strategies to overcome challenges, including enhanced marketing through live streaming and improved customer service offerings [5][6] - New business models are emerging, such as manufacturer replacement services and digital solutions that enhance transaction transparency [6][7] Ecosystem Reconstruction - The industry is shifting from a competitive to a collaborative ecosystem, emphasizing integrity and sustainable growth [7][8] - Initiatives like the "行" certification aim to standardize vehicle condition assessments and improve consumer trust [7] - Financial and policy support is crucial for sustaining the market's growth and innovation [8]

Core Insights - The second-hand car market in China showed moderate growth in June 2025, with a transaction volume of 1.6575 million units, reflecting a month-on-month increase of 3.34% and a year-on-year increase of 9.12% [1][3] - The total transaction amount for June reached 106.839 billion yuan, while the cumulative transaction volume for the first half of 2025 was 9.5701 million units, representing a year-on-year growth of 1.99% [1][3] Market Performance - The second-hand car market experienced a stable performance in June, attributed to a stable pricing system in the new car market and a reduction in promotional models, which positively impacted the second-hand market [3] - The average inventory cycle for June extended to 43 days, with 35.6% of companies facing inventory cycles exceeding 30 days, indicating increased operational pressure on dealers [5] Segment Analysis - In June, the transaction volume for basic passenger cars was 922,700 units, with a month-on-month increase of 2.22% and a year-on-year increase of 5.80% [8] - The MPV segment saw a significant year-on-year growth of 15.27%, while commercial vehicles also performed well, with a 17.17% increase in the transaction volume of cargo vehicles [8][9] Regional Insights - The East China region led the growth with a transaction volume of 471,900 units, a month-on-month increase of 3.03%, particularly driven by Shanghai's impressive growth of 6.8% [15] - The North China region showed a notable recovery, with a transaction volume of 255,000 units, reflecting an 8.83% month-on-month increase, especially in Beijing, which grew by 18.6% [16] Usage Age Analysis - In June, vehicles aged 3-6 years accounted for 42.23% of transactions, while vehicles under 3 years old saw a growth trend, indicating a shift in consumer preferences [12] Cross-Regional Flow - The second-hand car transfer rate was 29.52%, showing a slight decrease from the previous month but a year-on-year increase of 1.1 percentage points, with a total transfer volume of 489,200 units [20]

Core Insights - The article highlights the innovative approach of He Jian, a procurement specialist at Taoche, who utilizes professionalism and sincerity to bridge the trust gap in the used car selling process [1][2][3] Group 1: Professional Background and Skills - He Jian has a diverse career background, transitioning from a restaurant owner to a used car procurement expert, leveraging his experience in customer service to enhance the car selling process [2] - His expertise includes the ability to assess vehicle conditions through auditory and tactile cues, which he developed during his years in the used car industry [2] Group 2: Customer-Centric Approach - He Jian emphasizes a customer-first philosophy, establishing dedicated service groups for each car owner to keep them updated on vehicle inspection progress, thereby ensuring transparency [2] - He Jian's approach includes detailed analysis and communication regarding vehicle pricing, which helps alleviate customer concerns about being underpriced [3] Group 3: Service Excellence and Impact - The article illustrates a specific instance where He Jian's empathetic communication and professional advice led to a successful transaction, showcasing his commitment to customer satisfaction [3] - His exceptional service has resulted in positive word-of-mouth referrals, indicating a growing reputation for reliability and trustworthiness in the used car market [3] Group 4: Future Aspirations - He Jian aims to continue enhancing his professional skills while balancing vehicle quality and customer satisfaction, with the goal of promoting "reliable used cars" to a wider audience [3]

Core Viewpoint - The ongoing price competition in the new car market is significantly impacting the used car sector, leading to a decline in used car transactions and prices due to consumers opting for new cars at similar or slightly higher budgets [1][4]. Group 1: Used Car Market Performance - In May, the used car transaction volume decreased by 5.72% month-on-month and only increased by 1.22% year-on-year, primarily due to the diversion and pressure effects from the active new car market [1]. - The average resale value of three-year-old fuel vehicles dropped from 56.8% in 2023 to 51.8% in 2024, with mainstream brands seeing values fall to 45%-50% [6]. - The average resale value of three-year-old electric vehicles (BEVs) is below 50%, with specific figures showing 44.2% for BEVs and 46.1% for plug-in hybrids (PHEVs) [8]. Group 2: Market Challenges - The fundamental issue in the used car market is its struggle amidst the rapid transformation towards new energy vehicles, with inadequate certification, circulation systems, and supporting services [3][11]. - The used car industry faces integrity issues, with some operators engaging in deceptive practices that harm the overall industry image [3]. - The financial penetration rate for used car loans is only 48%, significantly lower than that for new cars, indicating a lack of supporting financial services [3]. Group 3: Market Dynamics and Future Outlook - The price war in the new car market is intensifying, with a record number of manufacturers participating and significant discounts being offered [5]. - Despite the challenges, the used car industry is entering a development window, supported by a large existing vehicle stock of 353 million units and the removal of inter-regional sales restrictions [11]. - The intensity of the price war is expected to decrease, with industry organizations advocating for healthier competition and regulatory measures being implemented to stabilize the market [12][14]. Group 4: Export Opportunities - The used car sector is looking towards overseas markets for growth, which require adherence to established regulations and standards, potentially benefiting the domestic used car industry [15].

Market Overview - In May 2025, the national used car market saw a transaction volume of 1.6039 million units, a month-on-month decrease of 5.72% but a year-on-year increase of 1.22%, with a transaction value of 102.962 billion yuan [3] - From January to May 2025, the cumulative transaction volume reached 7.9126 million units, a year-on-year growth of 0.62%, with a cumulative transaction value of 516.399 billion yuan [3] Weekly Analysis - From June 16 to 22, 2025, the used car market continued to show signs of recovery, with an average daily transaction volume of 65,900 units, a month-on-month increase of 1.95% [5] - The estimated total transaction volume for June is approximately 1.57 million units, indicating a slight decline of 2.6% compared to the same period in May [5] Segment Market Changes - In May 2025, the transaction volume for basic passenger cars was 902,600 units, down 5.94% month-on-month and down 1.82% year-on-year [7] - The SUV segment saw 209,500 units traded, a month-on-month decrease of 7.12% and a year-on-year decrease of 0.23% [7][8] - The MPV segment recorded 104,300 units, with a month-on-month decrease of 5.77% but a year-on-year increase of 6.10% [8] Price Analysis - The average transaction price of used cars in May 2025 was 64,400 yuan, a decrease of 400 yuan from April and a decrease of 200 yuan year-on-year [25] - The largest market share was for vehicles priced below 30,000 yuan, accounting for 32.4% of transactions, although this was a decrease of 0.4 percentage points from the previous month [23] Regional Performance - In May 2025, all six major regions experienced varying degrees of decline in transaction volumes, with the Southwest and Northwest regions showing the most significant drops [27] - The East China region recorded a transaction volume of 458,000 units, down 5.34% month-on-month [27] New Energy Used Cars - In May 2025, the transaction volume of new energy used cars reached 121,000 units, a month-on-month increase of 2.7% and a year-on-year increase of 41.1% [31] - From January to May 2025, the cumulative transaction volume of new energy used cars was 545,300 units, a year-on-year increase of 29.7% [31] Flow Analysis - The used car transfer rate in May 2025 was 29.76%, a month-on-month decrease of 0.32 percentage points but a year-on-year increase of 1.06 percentage points [37] - The total transfer volume was 476,900 units, a month-on-month decrease of 6.72% but a year-on-year increase of 4.96% [37] Dealer Insights - The top five provinces by transfer rate in May 2025 were Beijing (35.20%), Hebei (32.75%), Guangdong (32.46%), Zhejiang (32.25%), and Shanghai (31.63%) [46] - Dealers showed a preference for "premium cars" that can quickly deplete inventory and "old cars" with stable prices [61]

Core Insights - The second-hand car market in China is experiencing steady growth, with an average daily transaction volume of 66,300 vehicles from June 23 to June 29, 2025, reflecting a month-on-month increase of 2.4% [1][3] - The overall transaction scale for June is projected to be approximately 1.57 million vehicles, indicating that the market is still in a phase of fluctuation and adjustment [1][3] Weekly Transaction Trends - The second-hand car market shows a consistent upward trend in daily transaction volume, with a 0.73% week-on-week increase [1][3] - Approximately 30% of second-hand car dealers reported an increase in customer foot traffic, and over 25% of dealers achieved higher transaction volumes [3] - Online channels are becoming a significant source of market growth, with digital transformation showing positive results [3] - Despite the positive trends, about 30% of dealers noted that transaction prices are still in a downward trend, posing challenges for dealers [3] - The new car market is showing signs of price stabilization, which may positively impact the second-hand car market [3] Regional Analysis - In the East China region, the average daily transaction volume reached 22,000 vehicles, with a 1.1% increase week-on-week; notable growth was observed in cities like Hangzhou (16.7% increase) and Jinan [6] - The North China region saw a daily transaction volume of 2,700 vehicles, with a 4.5% increase; cities like Langfang and Shijiazhuang reported significant growth [6] - The Northeast region experienced a decline in daily transaction volume to 2,300 vehicles, with major cities like Harbin and Shenyang seeing drops exceeding 10% [7] - The Southwest region maintained a stable transaction volume of 13,700 vehicles, with cities like Lhasa showing a remarkable 20% increase [7] - The Central South region recorded a daily transaction volume of 24,600 vehicles, with Wuhan showing a significant 16.4% increase [8] - The Northwest region had a daily transaction volume of 1,100 vehicles, with a 2.42% increase, particularly in cities like Bazhou [8]

Core Insights - The 2025 China Used Car Conference, themed "Integrity Wins the Future," was held in Chongqing, focusing on policy benefits, the transition to new energy, and innovative development paths in the used car industry [1] - From January to May 2025, China's used car transaction volume reached 7.91 million units, with a total transaction value of 516.4 billion yuan, reflecting a year-on-year growth of 0.62% [3] - The used car industry faces challenges such as fragmented channels, information asymmetry, and insufficient service standardization, which hinder healthy development [3] Company Developments - Youliang Technology has rapidly developed over the past two years, with a monthly transaction volume exceeding 9,000 units and an expected annual transaction volume of over 100,000 units [4] - The company has launched several AI-driven products and services, including the PowerBid auction system, to enhance industry productivity and reduce cross-regional circulation costs [4] - Youliang Technology has established deep partnerships with leading manufacturers and dealer groups, focusing on refined operations and driving business upgrades through standardized technology [6] Market Trends - The used car export market is showing significant potential, with 2.83 million vehicles exported from January to May 2025, representing a year-on-year growth of 16% [7] - The company is actively sharing its internationalization strategy and working with industry partners to develop China's used car inspection and evaluation standards [7] - AI technology is being utilized to empower used car dealers throughout the entire business process, helping them navigate challenges in a competitive market [6]

Core Insights - The "2025 Annual Top 100 Used Car Dealers in China" list was announced at the China Used Car Conference, with the online used car trading platform TaoCheChe achieving second place and third place in the "Top 50 New Energy Used Car Dealers" list [1][2]. Group 1: Company Performance - TaoCheChe was evaluated based on strict criteria including retail and wholesale transaction volume, transaction value, average monthly inventory, and operational area [2]. - The company has over 70 direct-operated stores nationwide, making it the largest direct-operated used car platform in China [2]. - The recognition reflects TaoCheChe's commitment to technological innovation, quality service, and industry standardization [2][5]. Group 2: Industry Impact - The rankings provide an objective reflection of the competitive landscape, brand influence, and overall profitability of companies in the used car industry [2]. - TaoCheChe's self-developed TCN operational system integrates big data and AI algorithms, standardizing the traditionally chaotic used car trading process [5]. - The company aims to enhance the transparency, efficiency, and reliability of the used car circulation ecosystem in China [6].

Group 1 - TikTok is enhancing its presence in Latin America, emphasizing the need for localized systems to overcome barriers in logistics, payments, regulations, and culture for sustainable growth in this market [2] - The Chinese cross-border e-commerce platforms are competing to tap into the next trillion-dollar market by establishing localized capabilities [2] Group 2 - The Chinese Ministry of Commerce is promoting the healthy and orderly development of the second-hand car export market, with a focus on quality and safety [9] - In the first five months of 2024, Shenzhen exported electric vehicles worth 11.18 billion yuan, marking a year-on-year increase of 16.7% [9] - A new automotive logistics route has been established between China and the UAE, facilitating the export of nearly 4,000 domestic vehicles [9] Group 3 - Indonesia and Saudi Arabia signed cooperation agreements worth $27 billion, covering various sectors including clean energy and healthcare [10] - Alibaba Cloud plans to invest over 400 million yuan to support international partner ecosystem development, focusing on market activities and training [10] - Siemens announced that the U.S. has lifted export restrictions on chip design software to China, allowing full access for Chinese customers [10]