Used Car Sales Nationwide Surpass New Car Sales in First Half of 2026, Averaging 38% of New Car Prices

In the first half of 2026, China’s cumulative used-car transactions reached 9.7132 million units, up 1.50% year-on-year, with a total transaction value of RMB 638.53 billion, resulting in an average price per vehicle of approximately RMB 65,700. During the same period, retail sales of new passenger vehicles totaled around 8.7 million units, marking the first time that used-car transaction volume surpassed new-car sales. In May, the average price of new cars stood at RMB 173,000, while the average price of used cars was about 38% of that figure. In June alone, used-car transactions amounted to 1.6184 million units, up 1.05% month-on-month but down 2.36% year-on-year, with a transaction value of RMB 107.158 billion. By vehicle age, used cars aged three to six years accounted for the largest share of transactions at 43.6%, although this represented a decline compared to the same period last year. Meanwhile, nearly-new vehicles (three years old or younger) made up 30% of transactions, an increase of 3.1 percentage points year-on-year. The penetration rate of new-energy used cars continued to rise, climbing from 3.6% at the end of 2022 to 11.6% in April 2026.