New Energy Used Car Sales Hit 839,000 in First Seven Months, Up 22% Year-on-Year

In the first seven months of this year, China's cumulative used-car sales exceeded 11.27 million units, including 839,000 new-energy used vehicles—a 22% year-on-year increase—accounting for 8.6% of total used-car transactions. In the first half of the year, the ratio of used-car to new-car sales approached 1:1. The mainstream transaction price range in the market was between RMB 50,000 and RMB 150,000. Data from the first half of 2026 shows that the average three-year residual value rate for fuel-powered vehicles stood at 46.07%, compared to 44.8% for new-energy vehicles. Multiple regions have introduced subsidies for used-car trade-ins, offering up to RMB 4,000 per vehicle. Nationwide restrictions on relocating used cars have been lifted, and measures such as electronic transfer of vehicle records and reverse invoicing for used-car transactions have been implemented.