Is the second-hand car market picking up "a flash in the pan" or "Tuyere has come"?

According to the "2022 China Motor Vehicle Auction Market Statistical Annual Report" released by the China Auction Industry Association, in 2022, the national motor vehicle auction turnover was 644,900 units, with a turnover of 27.284 billion yuan, and the national motor vehicle auction transfer ratio was 40.98%.

The introduction of a series of favorable policies such as accelerating the construction of a unified national large market and comprehensively abolishing the restriction on the relocation of second-hand cars has laid a solid policy foundation for the standardization, scale and brand development of the second-hand car industry.

The industry believes that the second-hand car industry policy has been fully implemented, especially the policy of limiting relocation and raising files in different places has been loosened, which has broken the barriers of off-site motor vehicle auction and created a good marketing environment for the automobile aftermarket. With the steady growth of the total number of passenger cars in China, the demand for maintenance, maintenance, accessories and other related growth in the automobile aftermarket is expected to reach 1.74 trillion yuan in China's automobile maintenance market in 2025.

In the increasingly fierce market competition, the second-hand car market is not calm. Since the beginning of this year, affected by the price reduction of some brands of new cars, the competition between manufacturers has become more intense, and the resulting fluctuations in vehicle prices have also been rapidly transmitted to the used car market.

Industry insiders said that although the second-hand car market is recovering growth, there has not been explosive growth. It can be predicted that in the next five to ten years, China's automobile aftermarket will continue to grow and grow.