National Used Car Sales Drop 6.5% Year-on-Year to 1.301 Million Units in February 2026

In February 2026, China's nationwide used car market recorded a transaction volume of 1.301 million units, down 25% month-on-month and 6.5% year-on-year; the transaction value amounted to RMB 88.4 billion, a 6% decline year-on-year. From January to February 2026, cumulative used car transactions reached 3.03 million units, up 6% year-on-year, with a total transaction value of RMB 195 billion, an increase of 4.7% year-on-year. During the same period, in February 2026, transactions of new energy used vehicles (NEVs) totaled 107,000 units, down 32% month-on-month but up 8% year-on-year, accounting for 11% of the total used car transaction volume that month. From January to February 2026, cumulative NEV used car transactions reached 265,000 units, surging 40% year-on-year. Relevant data indicates that China’s used car circulation environment has improved, with local traffic management authorities introducing facilitation measures to boost used car transactions. Although China’s current used car transaction ratio remains below international levels, the market is in a rapid growth phase and holds significant development potential.