Analysis of China's National Used Car Market in the First Half of 2024
TapTechNews August 5th news, the China Automobile Dealers Association released in-depth analysis data of the national used car market in the first half of 2024.
In June 2024, the trading volume of the national used car market was 1.519 million units, a decrease of 4.14% month-on-month and a decrease of 0.93% year-on-year, and the transaction amount was 97.82 billion yuan.
In the first half of 2024, the cumulative trading volume of used cars was 9.3829 million units, an increase of 7.01% year-on-year, an increase of 614,300 units compared with the same period, and the cumulative transaction amount was 625.212 billion yuan.
From the trading situation of each subdivided vehicle model, in the first half of 2024, the cumulative trading volume of basic passenger cars was 5.4602 million units, an increase of 4.66% year-on-year; a total of 1.255 million SUVs were traded, an increase of 12.1% year-on-year; a total of 592,100 MPVs were traded, an increase of 10.81% year-on-year; and a total of 220,700 cross-passenger cars were traded, an increase of 29.50% year-on-year.
From the perspective of service life, in the first half of this year, the used cars with a service life of 3 to 6 years had the largest trading volume of used cars, accounting for 46.5%, an increase of 5.4 percentage points compared with the same period last year; the models with a service life within 3 years accounted for 26.9%; the models with a service life of 7 to 10 years accounted for 17.7%; and the models with a service life of more than 10 years accounted for 8.9%.
TapTechNews noticed that the trading volume of new energy used cars increased significantly. In the first half of 2024, a total of 506,500 new energy used cars were traded nationwide, an increase of 63.5% compared with the same period in 2023.
