China Used Car Transactions Top 20 Million Units for First Time in 2025
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China's used car transactions exceeded 20 million units for the first time in 2025, marking a nearly 3% increase from the previous year. The total transaction value reached CNY1.3 trillion (USD186.4 billion). Notably, used NEV transactions rose to 1.6 million units, accounting for almost 8% of total sales. The average transaction price for used vehicles was CNY64,500 (USD9,250). Young first-time buyers are increasingly opting for used cars due to their affordability, with a preference for online transactions.
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