Core Insights - The current state of the second-hand new energy vehicle market in China reflects a significant lack of consumer confidence, primarily due to concerns over battery degradation, rapid technological iterations, and the absence of a robust certification system [1][2] Group 1: Market Overview - In April 2023, the penetration rate of second-hand new energy vehicles was only 8.8%, while the penetration rate for new energy new cars was 47.34%, indicating a stark contrast in consumer interest [1] - The government aims for a 45% increase in second-hand vehicle transactions by 2027 compared to 2023, with new energy vehicles playing a crucial role in this growth [2] Group 2: Trust and Confidence Issues - The low performance of the second-hand new energy vehicle market is fundamentally a reflection of a lack of trust, necessitating the establishment of a comprehensive trust chain covering the entire vehicle lifecycle [2][3] - The need for a national-level data platform for second-hand new energy vehicles is critical to ensure transparency and traceability of vehicle information, including battery health and maintenance history [3] Group 3: Innovations and Solutions - Innovative insurance products, such as "battery degradation insurance," are emerging as key drivers to alleviate consumer concerns and enhance market engagement [3] - The "separation of vehicle and battery" model is being adopted, allowing for specialized battery asset management, which can significantly reduce consumer purchase costs and shift the focus of second-hand vehicle valuation back to the vehicle itself [3][4] Group 4: Technological Advancements - Rapid advancements in battery technology are changing market dynamics, allowing older models to regain market value through battery upgrades, thus altering traditional valuation methods [4] - The healthy development of the second-hand new energy vehicle market is essential for the transformation of the automotive industry and the realization of green consumption principles [4]