Domestic Used Car Prices Slide Broadly in April 2026, with Sharp Structural Divergence

In April 2026, wholesale prices for used vehicles in China declined significantly, with the wholesale price index dropping from 84 points in March to 80 points—a month-over-month decrease of 4 points—marking the first substantial correction in the past 10 months. Meanwhile, the Used Car Manager Index stood at 45.1%, up 2.5 percentage points year-over-year but down slightly by 0.4 percentage points month-over-month. Following the post-Chinese New Year surge in car-buying demand, the market momentum driven by earlier recovery, increased customer traffic, and revival impetus has gradually weakened. The dense launch of new models during the Beijing Auto Show in April heightened price risks in the used car market, leading to strong consumer caution and overall weak demand, with dealers primarily focused on inventory reduction. Certain structural bright spots emerged. Mainstream models demonstrated notable price competitiveness in international markets, creating potential export opportunities. Brand performance diverged further: Chinese-brand used cars saw a year-over-year price increase of 18.2%, while joint-venture and imported brands faced pressure—Korean brands dropped 14.1% year-over-year, French brands declined 3.3%, and American brands edged up slightly by 3.4%. By vehicle type, sedan and SUV prices rose 13.1% and 1.4% year-over-year, respectively, while MPV prices corrected downward by 12.7%. Across segments, micro cars surged 69.2% year-over-year, mid-large cars increased by 30.3%, and mid-size cars declined by 5.6%. Inter-regional circulation data showed Shandong Province remained the top destination for net inflows of inter-provincial used vehicles nationwide, reinforcing its role as a core hub in the used car distribution network. Regional consumption preferences varied significantly: Northeast China favored German sedans and Japanese SUVs, Shandong concentrated demand on compact cars, and South China exhibited strong appetite for Japanese brands. The above data are derived from a price index tracking 30 mainstream vehicle models, based on real-time transaction information nationwide, reflecting the market’s phased adjustment patterns and price trends.