Second-hand transaction volume of used cars increased by 21%

Recently, the China Automobile Dealers Association released data, in June the country's second-hand car trading market traded 10.33 million used cars, an increase of 3.92%, compared with the same period last year increased 25.47%, the transaction amount of 70.766 billion yuan. Based on this, in the first half of this year, a total of 5,837,100 used cars were sold, a cumulative increase of 21.53% over the same period last year, and the transaction amount was 389.592 billion yuan.

Over one million units sold in a single month in June

Statistics show that in the first half of this year, a total of 5.837 million used cars were sold, a cumulative increase of 21.53% year-on-year, and the transaction amount was 389.592 billion yuan. Among them, a total of 3.804 million basic passenger cars were traded, an increase of 20.39% year-on-year; passenger cars were 610,400, an increase of 17.56% year-on-year; and freight cars were 519,900, an increase of 6.28% year-on-year.

Among them, in June the country's second-hand car trading market traded 10.33 million used cars, an increase of 3.92%, an increase of 25.47% compared with the same period last year, the transaction amount of 70.766 billion yuan. From the perspective of its major trading models, the basic passenger vehicles traded 627,700 vehicles, an increase of 6.23% compared with the previous period; the number of passenger cars was 112,800, an increase of 6.72% compared with the previous period; and the number of trucks carrying goods was 8,900, a month-on-month decrease of 0.66%.

Shen Jinjun, president of the China Automobile Dealers Association, said that the outbreak of used cars has originated from three factors: the growth of the used car market, policies, and respect for capital.

It is reported that the used car industry is hot in terms of capital inflows. After incomplete statistics, in January, Youxin used vehicles received US$500 million in financing; in February, Car 300 announced that it had received nearly 200 million yuan in C round of financing; in March , Che Qibao won 100 million U.S. dollars in financing; in April, Dazai announced the completion of 180 million U.S. dollars D round of financing, Yixin announced to sign up to 4 billion yuan of investment agreement; in May, Maimai car received 200 million yuan of financing In June, the used car of Guazi obtained 400 million U.S. dollars of round B financing.

Private market share increased

According to research, it is expected that by 2020, the scale of second-hand car transactions (number of transfer) will reach 20 million, and the transaction volume will reach 1.5 trillion yuan.

The proportion of second-hand MPVs, SUVs, and other models from January to June increased compared with the same period of last year, which was an increase of 0.93 percentage points and 0.68 percentage points, respectively. And 1.5 percentage points.

Judging from the structural characteristics of the used car market, private cars still dominated the market in January-June, with a total of 5.630 million vehicles, of which cars accounted for 60.27%. There are 5,399,900 domestic cars and 49.72 million imported cars. The used car market is still dominated by domestic cars.

Judging from the age distribution of vehicles, the models in the 3-6 years have traded 2,559,900 vehicles, accounting for 43.80% of the total transaction volume, while the proportion of models within 3 years has accounted for 24.44%. It is worth noting that the proportion of vehicle models within the three years of the used vehicle age structure of the used car market has increased by 4.54% compared with the same period of last year.

In addition, the China Automobile Dealers Association predicts that by 2020, China’s second-hand car trade volume is expected to reach 20 million vehicles, which is more than doubled in 2016.