China's Used Car Sales Hit 20.11 Million in 2025, EV Transactions Surge 43%

On February 7, Cui Dongshu, Secretary-General of the Passenger Car Association (CPCA), revealed that China’s cumulative used-car transactions in 2025 reached 20.11 million units, up 2.5% year-on-year, with a total transaction value of RMB 1.2898 trillion, a slight increase of 0.4%. In December alone, used-car sales hit 1.87 million units, up 7% month-on-month. Notably, annual transactions of new energy used vehicles (NEVs) reached 1.61 million units, surging 43% year-on-year; December sales alone totaled 169,000 units, up 36.5% year-on-year, accounting for 12% of the total used-car market. Meanwhile, the proportion of inter-regional transfers of used cars rose to a record high of 34%. Cui noted that supportive policies and optimized traffic management services have significantly improved used-car circulation. Although China’s current used-car transaction ratio remains lower than that of developed countries, the market is entering a phase of rapid growth—particularly driven by new energy vehicles—and holds immense future potential. He forecasts that the "trade-in-for-new" program will achieve exceptionally strong growth in 2026.