Over 80% of Gasoline Car Owners Prefer New Energy Vehicles for Their Next Purchase; ¥200,000–¥300,000 Emerges as the Main Price Range

According to the "White Paper on Consumer Insights into Auto Trade-in Programs," jointly released by Dongchedi and China Automotive Technology & Information Center (CATARC), the total number of vehicles expected to be traded in under auto replacement programs between 2024 and 2025 will reach 18.3 million, with nearly 60% being new energy vehicles (NEVs). The data shows that 81.2% of internal combustion engine (ICE) vehicle owners switched to NEVs—including battery electric vehicles (BEVs), plug-in hybrids (PHEVs), or extended-range electric vehicles—when replacing their cars. Furthermore, 74.1% of newly purchased vehicles were priced above RMB 200,000, making the RMB 200,000–300,000 range the dominant price segment. Although ICE vehicles accounted for 64.1% of traded-in vehicles, they represented only 13.3% of newly purchased cars. NEV owners also demonstrated shorter replacement cycles: 90% replaced their vehicles within five years, significantly faster than ICE vehicle owners, among whom 70% kept their cars for over five years. The primary motivations for vehicle replacement were “cost savings” and “upgraded driving experience,” with consumers placing particular emphasis on smart features and high-end configurations. Chinese brands, leveraging strong product competitiveness, have gained a comprehensive lead in the trade-in market, with both established automakers and new-energy startups enjoying strong consumer favor.