New Energy Used Car Sales Surge 29.1% YoY in First 4 Months of 2026; Domestic Brands See Rising Resale Values

From January to April 2026, nationwide transactions of used new energy vehicles (NEVs) totaled 547,900 units, up 29.1% year-on-year. In April alone, sales reached 143,200 units, a 21.6% year-on-year increase, with a market penetration rate of 8.57%. The residual value of used NEVs showed divergent trends: battery electric vehicles (BEVs) saw steady recovery in residual value, while plug-in hybrid electric vehicles (PHEVs) declined due to aggressive price competition in the new car market and seasonal risk-averse pricing pressures. Domestic NEV brands such as Denza, BYD, and NIO recorded month-on-month increases in residual value of 0.2 to 0.3 percentage points. The market clearly reflects an upgrading consumption trend. In April, A00-class sedans accounted for 15.4% of used NEV transactions, down 2.6 percentage points from the previous month. B-class and C-class sedans represented 13.2% and 6.7% respectively, up 0.5 and 0.3 percentage points month-on-month. SUVs accounted for 29.3% of transactions, an increase of 0.3 percentage points from the prior month. Consumer acceptance of domestically produced NEV brands in the used car market continues to rise, supported by their competitive advantages in premium intelligent driving technologies and battery-swapping solutions, which have bolstered their residual values.