1-8 There are nearly 450,000 vehicles in a month, and the top ten countries consume 78%: the flow chart of China's used cars going out to sea is different from what you think

From January to August 2026, China's second-hand car exports approached 450,000 units.

This number is beautiful enough. But looking at the total amount is nothing. The more fatal question is: Whose pocket did these cars go into? Where in the chain does the money stay?

Spread out the country-by-country data for the first half of this year, and you will find something counter-common sense-the country ranked first on the export map is not the same as the market that really makes money.

01 Calculate the account first: What is the caliber of 450,000 vehicles?

Make rules first, otherwise every number in this article will be misread.

Official/association data that has been released only in the first half of the year:

● From January to June 2026, China exported 325,000 used cars, with an export value of US$7.6 billion, a year-on-year increase of 61% and 54% respectively

● Exports in the first quarter were 128,000 vehicles,+103% year-on-year; 197,000 vehicles in the second quarter,+42% year-on-year

● The top ten exporting countries in the first half of the year accounted for 78% of the total

Country-by-country data from July to August has not yet been released.

Extrapolating according to the shipment pace in the second quarter, it fell to around450,000 vehiclesfrom January to August-the magnitude is standing. But please note: 450,000 vehicles are the industry's estimated magnitude, not the official caliber. You have to write it into the materials, either mark the industry calculations or wait for the official data to be implemented.& nbsp;

02 Top 10 countries eat 78%: List and their respective roles

Note: The order of places 4-6 and 8-10 has been clarified, and the respective export volumes have not been disclosed in the public format.

Summarize this table in one sentence:

In the top ten, the market dominated by real local digestion is actually less than half_on this map, there are more transit warehouses than terminal markets.

03 Four blocks, four sets of completely different logic

Eurasia (Russia + Central Asia): about 38%, the largest and most dangerous

Russia ranks first with 61,000 vehicles, but the real bulk is on the transit channel of Kyrgyzstan and Kazakhstan: vehicles are first cleared and licensed at low taxes within the Eurasian Economic Union, and then use the rules of free circulation of vehicles within the Union to enter Russia.

The value of this channel is not in the sales volume, but in the tax difference.

But the channel is being attacked from both ends:

● Russian side: СП т Т

When the system is launched, goods imported from highways in Eurasian Economic Union countries must be declared in advance, paid a deposit, and cleared through customs with QR codes. The declared price is lower than the official market price and is directly taxed at the lowest market price--

The old way of low-tax reporting in Central Asia is basically abandoned

● Kazakhstan side: On July 21, the Prime Minister personally ordered that a plan to crack down on the illegal import of cars be drawn up within 10 days.

Comprehensively strengthen supervision from September 1

West Africa (Nigeria + Ghana): 20.1%, the strongest increase this year

Nigeria

The population exceeds 200 million, and the annual demand for imported used cars is about 1 million. The demand for second-hand heavy trucks is particularly strong-in 2025, China exported 4352 second-hand heavy trucks to Nigeria, a year-on-year increase of 187.8%, and exceeded 3600 units in the first four months of this year. Domestic heavy trucks are extremely competitive locally, and under the same operating conditions, they are only sold for second-hand similar models in Europe.

One-third, coupled with the supply of accessories keeping up, market acceptance is rapidly increasing.

Ghana

In the first half of the year, 14,000 vehicles were exported, a year-on-year growth rate of more than 290%, making it the fastest among the top ten markets.

The underlying logic in West Africa is very hard: the road network is expanding, the Lagos Port Area is the cargo transit hub for the entire West Africa, andmore than 80% of logistics relies on road transportation. Cars are just needed, not consumption upgrades.

Middle East (United Arab Emirates): terminal + transit, dual identity

United Arab Emirates eathigh-end new energy-vehicles such as Ideal, Krypton, and NIO are shipped to the Middle East. Coupled with tariffs and freight charges, the terminal is still much cheaper than new local cars of the same class.

But the more important identity isthe allocation of positions: a large number of used cars first arrive in Dubai and then distributed to East African countries. The essence of doing the Middle East is to doinventory turnover and capital efficiency, not to do bicycle price differences.

Southeast Asia (Vietnam, Cambodia): The volume of micro pure electricity

Micro pure electricity such as Hongguang MINIEV and BYD Dolphin are the main carriers in Southeast Asia and Central Asia. Southeast Asia's policy windows are relatively friendly, butthe coverage of charging networks is the ceiling-if this problem is not solved, the peak of growth will come faster than expected.

04 Category differentiation: +196% of new energy, where did it go

The most explosive figure in the first half of the year was not the total amount, but the structure: new energy used vehicles accounted for 31% of total exports, with a year-on-year increase of 196%(almost three times that of the same period last year)

The average FOB price of new energy used vehicles and bicycles is 30% higher than that of fuel vehicles

The gross profit level is generally 1.5-2 times that of fuel vehicles

When breaking the line of new energy, the three threads are clear:

Bottom line: New energy used cars are not substitutes, but a new category with high gross profit.

The underlying support for this growth rate is also very solid-public data shows that as of the end of June 2026, the number of new energy vehicles in the country was 48.97 million, including 33.675 million pure electric vehicles. These cars are continuing to flow into the second-hand market, while the new energy replacement cycle for young people in China is only 2-3 years. The vehicle source pool is expanding visually.

Source: Xiong Yu, digital automobile export

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