Core Insights - The Chinese motor vehicle auction market has experienced rapid growth, with 1.2352 million vehicles sold and a transaction value of 49.361 billion yuan in 2024, marking increases of 75.83% and 55.21% year-on-year respectively [1] - The third China Motor Vehicle Auction Industry Conference will be held in October 2025, focusing on industry development and technological advancements [1] Market Growth - The auction market's role in promoting the circulation of second-hand vehicles and boosting automotive consumption has been increasingly significant, with its market share in the national second-hand vehicle market rising by 3 percentage points compared to the previous year [1] - The report indicates that online auctions accounted for 97.98% of total auction sessions in 2024, with pure online auction sessions increasing by 170.73% year-on-year [8] Standards and Regulations - Two new standards were released: the national standard "Auction Terminology" and the group standard "Electric Vehicle Auction Detection and Evaluation Specification," aimed at enhancing industry norms and supporting green development [4][5] - The "Auction Terminology" standard fills a gap in national standards and supports the construction of a unified national market [4] Technological Advancements - The integration of digitalization and AI technologies is reshaping the motor vehicle auction process, improving operational efficiency and customer experience [10] - Companies are leveraging big data and AI for vehicle value assessment and pricing optimization, enhancing transparency and efficiency in transactions [10] International Expansion - The establishment of a "Second-hand Vehicle Export Auction Service Platform" aims to create a global export channel for quality second-hand vehicles, integrating auction credibility with advanced technologies [15] - The platform will facilitate a standardized service system for second-hand vehicle exports, promoting China's automotive industry on the global stage [15] Industry Rankings - The conference revealed the top 30 motor vehicle auction companies by transaction volume and value, with the top three being Beijing Wubaipai, Shanghai Changxin Auction, and Beijing Hengtai Bochi Auction [16] - The top 30 companies accounted for 95.83% of transaction volume and 96.94% of transaction value, indicating a trend towards market concentration and increased professionalization [16]

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]