On March 18, 2026, the "2026 Automobile Market Development Forum and 2025-2026 Automobile Circulation Industry Development Report Conference" with the theme of "Dominance, Symbiosis and Transition" was successfully held in Nanning. This meeting was hosted by China Automobile Dealers Association, hosted by the Industrial Coordinated Development Working Committee of China Automobile Dealers Association, and co-organized by Guangxi Automobile Dealers Association.

In the "Macroeconomics and Market Development Section" of the morning forum, Luo Lei, vice president of China Automobile Dealers Association, shared "Market Insights and Prospects in the Era of 20 Million."

He said that in 2025, my country's second-hand car trading volume exceeded the 20 million mark for the first time, but the growth rate was lower than the growth rate of transaction volume, indicating that the average transaction price has dropped and is significantly affected by the new car price war.

From the perspective of market segments, the growth of passenger cars is sluggish, while commercial vehicles and motorcycles both achieved double-digit growth, performing outstandingly. It is noteworthy that the trading volume of new energy used cars has exploded, with a year-on-year growth rate far exceeding the overall market growth rate, becoming an important driving force for the development of the used car industry. In terms of price structure, low-priced models dominate, while the proportion of high-priced models has narrowed. In terms of vehicle age, the proportion of old vehicles continues to increase, reflecting the trend of aging of the ownership structure.

Luo Lei said that benefiting from the popularization of national circulation and cross-provincial cooperation policies, testing reports and the promotion of Live streaming eCommerce, cross-regional circulation has grown significantly. In addition, demand for used cars is shifting from first-tier cities to sinking markets. In order to cope with the risk of price fluctuations of new cars, used car dealers took the initiative to accelerate turnover, and the average inventory cycle dropped significantly.

Under the guidance of the policy, used car operators are transforming from self-employed car dealers to enterprise-oriented enterprises. The proportion of enterprise-oriented car dealers surveyed has reached 73.2%. The market has been significantly reshuffled, with medium-sized car dealers having the most difficulty operating, while the scale of leading car dealers and chain brands has grown rapidly. Leading second-hand car dealers have begun to attach importance to after-sales service, and after-sales revenue has increased significantly. Some car dealers have begun to follow the path of branding and differentiation.

Faced with losses on new cars, dealer groups began to use the used car business as a new profit growth point. Some groups 'used car sales have accounted for more than 40%. The used car trading market is changing from purely property management to participating in transactions and empowering car dealers.

Luo Lei expressed full confidence in the market in 2026. The lowering of sales expectations by the main engine factory will help stabilize the price of new cars and benefit the operation of used cars. The huge ownership base provides room for growth in used car transactions. New energy used vehicles will continue to be an important driving force in the market, and the industry's development in the direction of standardization and branding will enhance consumers 'purchasing confidence. He expects used car trading volume to increase by more than 5% in 2026.

Source: China Automobile Dealers Association

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