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In 2024, about ** million used cars had been sold in China, an increase of some ***percent compared to 2023. During the past fifteen years, used vehicle transactions in China have increased almost **** times from *** million units in 2010.

Used car market sales

There had been remarkable growth in the demand for used car in China. In 2024, the overall used car sales revenue amounted to approximately **** billion yuan, which has been growing for the past years from *** million yuan in 2010. This six-fold increase displays the remarkable growth in demand for used vehicles in China. Over ** percent of used vehicles traded had been passenger cars. The steady year-on-year growth of the used car market has led to its increasing share of the overall Chinese auto market. In 2023, around ****Ìý³¾¾±±ô±ô¾±´Ç²Ô sold used cars stood against Ìý³¾¾±±ô±ô¾±´Ç²Ô registered new cars in China.

Potential of used car market

The used car market in China has tremendous potential. China has been the world’s largest market for passenger cars since 2008, reaching a sales volume of approximately **** million units in 2024. Average price of second handed vehicles has increased to over * yuan since 2017.