China's Used Car Sales Top 20 Million in 2025, Marking Tenth Straight Year of Growth

In 2025, China's used car sales volume surpassed 20 million units for the first time, marking ten consecutive years of growth and signaling a shift in automotive consumption from a sole focus on new vehicles toward a dual-driven model combining both new and used cars. Favorable government policies have been a key driver, including the removal of restrictions on vehicle relocation and the implementation of cross-provincial transaction facilitation measures, which have effectively boosted used car circulation. Meanwhile, trade-in programs have expanded the supply of used vehicles, and new energy used cars are increasingly gaining consumer favor. However, challenges remain, such as low residual values and an underdeveloped after-sales service system for new energy used vehicles. Starting January 1, 2026, the state will impose strict controls on the export of zero-mileage used cars. Looking ahead, new energy used cars are poised to become the fastest-growing segment, driving continuous optimization of the industry structure.