Used Cars Surpass New Cars（August 14）
As competition in the automotive industry becomes increasingly fierce, the landscape of the new and used car markets has undergone earth-shattering changes.
The latest data released by the China Automobile Dealers Association shows that in June, the transaction volume of used cars surpassed that of new car retail sales for the first time, marking a turning point in the development of the used car market. Meanwhile, BBA (BMW, Mercedes-Benz, Audi) companies are experiencing downward pressure in their operations.
The transaction volume of used cars has surpassed that of new cars
Data shows that the transaction volume of second-hand cars nationwide reached 1.6184 million units in June, marking a month-on-month increase of 1.05%. Meanwhile, the domestic retail sales of passenger cars amounted to 1.602 million units during the same period, with the new car market sales continuing to experience negative growth.
Based on the overall trend in the first half of the year, the transaction volume of the domestic used car market has been steadily increasing, showing a robust growth trend. Data indicates that in the first half of 2026, a total of 9.7132 million used cars were sold, marking a year-on-year increase of 1.5%. This figure represents an increase of 143,100 vehicles compared to the same period in 2025, with the cumulative transaction value nearing 640 billion yuan.
In previous years, the growth of the used car market primarily relied on the two major vehicle types: sedans and SUVs. However, in June, both sedan and SUV transaction volumes declined year-on-year. The commercial vehicle market performed flat, and the industry was able to achieve overall positive growth solely through the growth of MPVs and crossover passenger vehicles. Segmentation data shows that MPVs sold 115,300 units in June, marking a month-on-month increase of 1.17% and a year-on-year increase of 5.09%, becoming the core growth driver of the market.
Lu Guangzhi, Deputy Director of the Used Car Information Department of the China Automobile Dealers Association, stated that the consumption logic for used cars is undergoing a profound transformation. Consumers are increasingly emphasizing the practicality and multifunctional attributes of vehicles when purchasing cars, which directly drives the continuous increase in transaction volume of related models, including seven-seater MPVs.
In addition to scale expansion, the value of the used car industry continues to increase, and the industry is undergoing comprehensive and deep-seated structural changes. The China Automobile Dealers Association predicts that with the implementation of the expanded policies related to the scrapping and renewal of motor vehicles, the total number of scrapped and renewed vehicles throughout the year is expected to reach a record high.
New energy second-hand cars are favored
It is noteworthy that new energy second-hand cars are increasingly favored by the market. Zhao Zhifeng, the head of the second-hand car business at Dongche Di, said that in the first half of the year, both online browsing and transaction growth of new energy second-hand cars on the Dongche Di platform saw significant and substantial increases. Moreover, there have been several notable changes in consumers' demands for purchasing new energy second-hand cars.
Firstly, in the early years, users placed more emphasis on the entry price when purchasing second-hand new energy vehicles. Nowadays, more and more consumers are paying attention to core indicators such as battery health, three-electricity detection reports, and remaining warranty period of the original manufacturer. Smart cockpits and assisted driving have become essential screening criteria for an increasing number of consumers. At the same time, buying a car is no longer limited to the local area. Cross-regional nationwide "hunting" for cars through online platforms has become a new trend. In addition, after-sales guarantees such as 7-day return policy, three-electricity warranty, and lifetime buyback in case of major accidents have become decision-making factors for consumers when placing orders.
The stereotype that "new energy vehicles (NEVs) do not retain their value" is changing. According to the "Research Report on China's Car Retention Rate in the First Half of 2026" jointly released by the China Automobile Dealers Association and the automotive data service platform Jingzhen Gu, the average retention rate of fuel vehicles over the past three years in the first half of 2026 was 46.07%, while the average retention rate of NEVs over the same period was 44.8%. Compared with historical data, the gap between the two is narrowing.
In the second-hand new energy vehicle market, the popularity of domestic brands has been on the rise. Zhao Zhifeng analyzed that in recent years, the sales of new domestic brand new energy vehicles have grown rapidly, expanding the foundation for the circulation of second-hand vehicles. Domestic brands accurately cover the full price range through product segmentation, providing consumers with a vast selection of options. From new energy commuter vehicles priced from 30,000 to 80,000 yuan to luxury new energy vehicles priced at 500,000 or even over 1 million yuan, domestic brands are in a significant leading position.
Luxury new cars collectively reduce prices
While the second-hand car market is booming, luxury new cars such as BBA have seen a collective price reduction.
Since the beginning of this year, the price defenses of Mercedes-Benz, BMW, and Audi have weakened, and competition is shifting from covert price reductions by dealers to price adjustments and public disclosure of official prices by the companies. The price reductions are no longer limited to electric vehicles, entry-level cars, or marginal models, but are gradually covering mainstay products such as the A6L, Q5L, C-Class, and GLC, which once supported the sales and price systems of luxury brands.
In terms of price, Audi has taken the most aggressive approach in offering discounts. The comprehensive discount for the Q6 is as high as 130,000 yuan. A model that originally had a landing price of around 500,000 yuan can now be acquired for just 330,000 yuan without any additional options. Mercedes-Benz GLB offers a discount of around 100,000 yuan, while the C-Class offers a discount of 90,000 yuan. A BMW store is currently clearing the last batch of iX1 inventory cars. The full payment is just over 180,000 yuan, and with a mortgage plan, it can be as low as 170,000 yuan.
Multiple front-line sales personnel of SAIC Audi stated that the terminal discounts for some models have reached 150,000 to 160,000 yuan. "It's the most cost-effective to buy now, and the price is still negotiable.".
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