Core Insights - The second-hand market is becoming a popular choice among young consumers in China, driven by a shift in their consumption mindset towards high cost-performance products and practicality over brand prestige [1][2][4] Group 1: Market Trends - The number of registered users on a major second-hand trading platform is expected to exceed 600 million by 2024, with over 50% of users being post-95 and post-00 generations [1] - The second-hand car market is witnessing a steady growth, with a total transaction volume of 16.49 million vehicles from January to October 2025, representing a year-on-year increase of 3.53% [9] - The second-hand new energy vehicle market is emerging as a significant segment, with a transaction volume of 978,000 units from January to August 2025, reflecting a year-on-year growth of 41.8% [10] Group 2: Consumer Behavior - Young consumers are increasingly opting for second-hand cars due to lower prices and better value, with many sharing experiences of transitioning from considering high-priced new cars to purchasing affordable second-hand options [2][4] - The trend of "online shopping" for second-hand cars is gaining traction, with approximately 40% of transactions completed through a national purchasing model on a major platform [16][18] Group 3: Pricing and Value - Significant discounts are available in the second-hand car market, with examples such as a 2021 Tesla Model 3 priced at 98,000 yuan, compared to its original price of 267,700 yuan, representing a 63.4% discount [5] - The depreciation of new cars is evident, with many models losing over 50% of their value within three years, making second-hand cars a more attractive option for budget-conscious consumers [8] Group 4: Platform Development - A major platform has established itself as a key player in the second-hand car industry, offering comprehensive services including deep vehicle inspections and robust after-sales support [14][19] - The platform has also contributed to the development of industry standards, such as the first local standard for second-hand new energy vehicle appraisal [19]

Core Viewpoint - The article highlights the growing trend of young consumers in China embracing the second-hand market, particularly for cars, driven by a shift in consumption values towards high cost-performance products and practical needs [2][4][10]. Group 1: Young Consumers and Second-Hand Market - Young consumers are increasingly turning to second-hand markets as a new lifestyle choice, with over 60 million registered users on a major second-hand trading platform, where users born after 1995 and 2000 account for more than half [2][4]. - The shift in consumer mindset reflects a preference for practical value over brand prestige, leading to a significant interest in second-hand goods, including cars [2][4]. Group 2: Second-Hand Car Market Growth - The second-hand car market in China has shown steady growth, with a cumulative transaction volume of 16.49 million vehicles from January to October 2025, representing a year-on-year increase of 3.53% [10]. - The average transaction amount for second-hand cars reached 1,057.18 billion yuan during the same period [10]. Group 3: Price Comparisons and Value - Significant price differences between new and second-hand cars are evident, with examples such as a 2021 Tesla Model 3 priced at 98,000 yuan compared to its new price of 267,700 yuan, representing a 64% discount [6]. - The depreciation of new cars has led to a market where three-year-old vehicles often sell for half their original price, making second-hand cars an attractive option for budget-conscious consumers [9]. Group 4: Rise of Second-Hand New Energy Vehicles - The second-hand new energy vehicle market is emerging as a significant segment, with transactions reaching 978,000 units from January to August 2025, marking a 41.8% year-on-year growth [11]. - Consumers show a higher acceptance of second-hand new energy vehicles, with a budget for these cars averaging between 50,000 to 150,000 yuan, which is double that of traditional fuel vehicles [11]. Group 5: Online Purchasing Trends - The trend of "online shopping" for second-hand cars is gaining traction, with approximately 40% of transactions on a major platform completed through a "national purchase" model [17][19]. - The platform has established a standardized process for online purchases, including comprehensive vehicle inspections and a seven-day return policy, enhancing consumer confidence in buying second-hand cars online [15][19]. Group 6: Industry Standards and Regulations - The company has played a pivotal role in the development of industry standards, participating in drafting the first local standard for second-hand new energy vehicle assessment in October 2023 [20].