Analysis of China's used car trading volume and export in 2021

First, automobile supply and demand

With the promotion of new energy vehicles, automobile production and sales increased, among which China's automobile production in 2021 was 26.082 million units, a year-on-year growth of 3.4%; China sold 26.275 million vehicles, up 3.8 percent year on year.

Automobile production and sales in China, 2016-2021

Second, second-hand car trading volume

Second-hand cars refer to motor vehicles that are registered in the public security traffic administration organs and can continue to be used before reaching the scrapping standards stipulated by the state or during the economic and practical life period. Among them, 17.5851 million used cars were traded in China in 2021, up 22.62 percent year-on-year.

Second-hand car transaction volume and growth rate in China, 2016-2021

Third, second-hand car export situation

By June 2021, China had exported a total of 10,889 used cars, and the export volume exceeded 10,000. The cumulative export amount was 68.847 million US dollars, and the average unit price was 6,322.6 US dollars. Among them, 3,488 used cars were exported in the first half of 2021, with an export amount of US $32.892 million, up 1.4 times and 3.3 times year-on-year, respectively; The average unit price is $9,430, nearly double from $4,821.1 in 2020.

In terms of specific export countries, Nigeria, Angola, Benin, Mongolia and Djibouti are the top five export markets. China's five export markets have exported 6,864 used cars, accounting for 63% of the total export volume, and the export amount is 31.81 million US dollars, accounting for 46.2% of the total export amount. Nigeria had the highest average unit price at $7,074.9, while Djibouti had the lowest at $1,275.2.

China's top five used car export regions in terms of quantity and value in the first half of 2019-2021

In terms of product type, the export volume of used passenger vehicles is higher than that of commercial vehicles. By June 2021, China exported 5,842 used passenger cars, accounting for 53.7% of the total export volume, and the export value was $36.402 million; Used commercial vehicles were exported 5,047 units, accounting for 46.3% of the total export volume, with an export value of US $32.444 million.

Quantity of China's used car products exported in the first half of 2019-2021

Among them, 2,551 used new energy passenger vehicles were exported, with an export value of $23.27 million; Only 21 used new energy commercial vehicles were exported, with an export amount of US $200,000. The export volume of used new energy passenger vehicles is much higher than that of used new energy commercial vehicles. As the first batch of new energy passenger vehicles listed in China has entered the replacement period, it is expected that the export volume of used new energy passenger vehicles will continue to grow in the future.

Amount of used car products exported from China in the first half of 2019 to 2021