April Used Car Resale Value Report: NEV Values Rebound, Joint-Venture Brands Diverge Further

In April 2026, the China Automobile Dealers Association (CADA) and Jingzhenggu jointly released the "China Automotive Residual Value Research Report." The data showed that online used car listings increased slightly month-over-month, primarily driven by local government "trade-in" policies that stimulated replacement demand and brought high-quality vehicles into the market. However, listings declined slightly year-over-year, reflecting lingering consumer caution—some buyers delayed purchases due to the influx of new models unveiled at the Beijing Auto Show and the approaching May Day holiday. A concentrated release of inventory is expected in May. By vehicle segment, residual values for mainstream sedans and SUVs rose month-over-month, while those for mini cars declined, mainly due to continuous price cuts on new mini EVs disrupting the used-car pricing structure. Among one-year-old pure electric mini cars, the BYD Seagull, Dolphin, and Wuling Bingo ranked top three in residual value at 53.5%, 48.9%, and 48.8%, respectively. The overall new energy used vehicle market showed a trend of "residual value recovery." Plug-in hybrid (PHEV) models saw a significant rebound in residual values, with the Aito M8, M9, and Tank 400 PHEV taking the top three spots among one-year-old PHEVs. In the PHEV MPV segment, the Buick GL8 PHEV led with a residual value of 80.5%, followed closely by the GAC Trumpchi E8 NEV (70.4%) and Denza D9 (69.2%). For pure electric vehicles (BEVs), the Aito M9, Li Auto MEGA, and Zeekr 009 ranked highest in one-year residual value, with domestic brands dominating the segment. Luxury brand residual values stabilized across the board. Porsche and Lexus maintained their lead, Mercedes-Benz and BMW rebounded, Audi dipped slightly, and Tesla also saw improved residual values. Joint-venture brands exhibited clear divergence: Japanese brands remained strong overall, though Toyota and Mazda saw minor declines; German brands retained their advantage in the midsize segment, with the Passat, Asian Dragon, and Magotan ranking top three; American and Korean brands gained traction in lower-tier markets thanks to strong cost-performance ratios. Among domestic brands, performance varied. GAC Trumpchi and Tank sustained high residual values by leveraging their niche market strengths. In the sub-¥100,000 compact car segment, the MG5 led with a residual value of 65.7%, followed by the Changan Eado and Geely Emgrand. New energy and premium domestic models generally rose: the BYD Seal 06, Avatr 06, and Deepal SL03 topped the PHEV midsize sedan rankings, while the LeDao L60 led pure electric midsize SUVs with a residual value of 75.7%. Brands such as Leapmotor, BYD, Li Auto, Zeekr, and NIO all recorded notable gains in residual value. The report highlighted three key trends shaping the current used car market: policy-driven release of existing inventory, value restoration in new energy vehicles, and intensifying brand competition increasingly centered on technology and product strength.