This statistic shows the average prices of used cars sold in China from 2010 to 2019. In 2019, the average price of a second-hand vehicle sold in China was around ****** yuan, up from about ****** yuan in the previous year.

China Automobile Price: DM: Passenger Car (PC) data was reported at 127,000.000 RMB/Unit in Aug 2023. This records a decrease from the previous number of 127,500.000 RMB/Unit for Jul 2023. China Automobile Price: DM: Passenger Car (PC) data is updated monthly, averaging 106,652.000 RMB/Unit from Jan 2007 (Median) to Aug 2023, with 196 observations. The data reached an all-time high of 128,800.000 RMB/Unit in Mar 2023 and a record low of 102,200.000 RMB/Unit in Nov 2012. China Automobile Price: DM: Passenger Car (PC) data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PB: Price Monitoring Center, NDRC: Automobile Price.

China: Vehicle prices, world average = 100: The latest value from 2021 is 84.3 index points, a decline from 84.95 index points in 2017. In comparison, the world average is 108.07 index points, based on data from 165 countries. Historically, the average for China from 2017 to 2021 is 84.63 index points. The minimum value, 84.3 index points, was reached in 2021 while the maximum of 84.95 index points was recorded in 2017.

China Automobile Price Index: CAI: Domestic Made: Passenger Car (PC) data was reported at 57.200 Jan2004=100 in Jun 2018. This records a decrease from the previous number of 57.600 Jan2004=100 for May 2018. China Automobile Price Index: CAI: Domestic Made: Passenger Car (PC) data is updated monthly, averaging 71.050 Jan2004=100 from Jan 2004 (Median) to Jun 2018, with 174 observations. The data reached an all-time high of 100.000 Jan2004=100 in Jan 2004 and a record low of 57.200 Jan2004=100 in Jun 2018. China Automobile Price Index: CAI: Domestic Made: Passenger Car (PC) data remains active status in CEIC and is reported by China Auto Index. The data is categorized under China Premium Database’s Price – Table CN.PB: China Auto Index: Automobile Price Index (Discontinued).

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 salesThere 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 **** million sold used cars stood against ***** million registered new cars in China. Potential of used car marketThe 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.

Significant fluctuations are estimated for all segments over the forecast period for the number of vehicle sales by make. In general, the number of vehicle sales by make appear to exhibit a positive trend, with more segments showing increasing values rather than decreasing values until 2029. Among them, the segment SUVs attains the highest value throughout the entire period, reaching **** million vehicles. Find further statistics on other topics such as a comparison of the revenue by make in Japan and a comparison of the average price in Bhutan. The Statista Market Insights cover a broad range of additional markets.

China Automobile: Manufacturer of Motor Vehicle: Cost of Sales data was reported at 2,322,363.240 RMB mn in 2015. This records an increase from the previous number of 1,985,875.330 RMB mn for 2014. China Automobile: Manufacturer of Motor Vehicle: Cost of Sales data is updated yearly, averaging 472,231.380 RMB mn from Dec 1995 (Median) to 2015, with 21 observations. The data reached an all-time high of 2,322,363.240 RMB mn in 2015 and a record low of 93,918.710 RMB mn in 1995. China Automobile: Manufacturer of Motor Vehicle: Cost of Sales data remains active status in CEIC and is reported by China Association of Automobile Manufacturers. The data is categorized under China Premium Database’s Automobile Sector – Table CN.RAF: Automobile Industry: Financial Data: Manufactuer of Motor Vehicle.

China Automobile: Manufacturer of Vehicle Engine: Cost of Sales data was reported at 115,925.260 RMB mn in 2015. This records a decrease from the previous number of 185,459.530 RMB mn for 2014. China Automobile: Manufacturer of Vehicle Engine: Cost of Sales data is updated yearly, averaging 43,262.080 RMB mn from Dec 1995 (Median) to 2015, with 21 observations. The data reached an all-time high of 185,459.530 RMB mn in 2014 and a record low of 7,173.360 RMB mn in 1996. China Automobile: Manufacturer of Vehicle Engine: Cost of Sales data remains active status in CEIC and is reported by China Association of Automobile Manufacturers. The data is categorized under China Premium Database’s Automobile Sector – Table CN.RAF: Automobile Industry: Financial Data: Manufacturer of Vehicle Engine.

In 2018, around 67 percent of the electric vehicles sold in China cost between 20,000 and 40,000 euros. The average of unit price of electric vehicles sold was much lower in China than in the United States or Europe.

China Used Car Market size was valued at USD 232.61 Billion in 2024 and is projected to reach USD 483.89 Billion by 2032 growing at a CAGR of 7.60% from 2026 to 2032.Key Market Drivers:Increasing Middle Class and Purchasing Power: China's growing middle class has created a strong demand for low-cost automobile solutions. According to the China Automobile Dealers Association (CADA), this income development has directly contributed to a 14.7% increase in used car transactions in 2023, as first-time car purchasers increasingly see used vehicles as a cost-effective option to new purchases.Favourable Government Policies: The Chinese government has developed supportive regulations to boost the used car sector. The Ministry of Commerce said that prohibitions on cross-provincial used car transfers will be lifted in 2023, affecting more than 300 cities across the country. This policy change, according to the China Automobile Circulation Association, resulted in a 23.5% increase in cross-regional used car transactions in the first half of 2023, representing approximately 2.3 million vehicles and demonstrating the immediate impact of regulatory support on market growth.

Key information about China Motor Vehicles Sales Growth

• China Motor Vehicles Sales grew 34.4 % in Feb 2025, compared with a decrease of 0.6 % in the previous month.
• China Motor Vehicles Sales Growth rate is updated monthly, available from Jan 2001 to Feb 2025, with an average growth rate of 10.1 %.
• The data reached an all-time high of 369.4 % in Feb 2021 and a record low of -79.1 % in Feb 2020.
• Car Sales of China recorded 2,128,611.0 units in Feb 2025.

In 2024, the Chinese passenger car market decreased by -1.9% to $185.3B for the first time since 2020, thus ending a three-year rising trend. In general, the total consumption indicated noticeable growth from 2012 to 2024: its value increased at an average annual rate of +3.2% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +33.3% against 2020 indices.

The average for 2021 based on 165 countries was 108.07 index points. The highest value was in Singapore: 355.77 index points and the lowest value was in Syria: 58.27 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

The cost of a workshop entry at a car dealer in China averaged 126 U.S. dollars in 2020. By contrast, network workshops were on average the cheaper option, at some *** dollars per entry. Overall, the price for service at an independent workshop and a network workshop was similar.

The China luxury car market, valued at $154.67 million in 2025, is projected to experience steady growth, driven by rising disposable incomes among high-net-worth individuals and a growing preference for premium vehicles. The market's Compound Annual Growth Rate (CAGR) of 3.25% from 2019 to 2033 indicates a consistent, albeit moderate, expansion. Key growth drivers include increasing urbanization, a burgeoning middle class with enhanced spending power, and a desire for status symbols. The segment is further propelled by technological advancements, particularly in electric vehicles (EVs), which are gaining traction due to government incentives and growing environmental consciousness. SUVs and MPVs are anticipated to maintain their dominance within the vehicle body style segments, reflecting evolving consumer preferences for spaciousness and versatility. However, the market faces certain restraints, such as stringent emission regulations, escalating raw material costs impacting vehicle pricing, and potential economic fluctuations that could affect consumer spending habits. Competition among established international brands like BMW, Mercedes-Benz, Audi, and Tesla, as well as burgeoning domestic players like Geely and FAW, is intense, leading to innovative product offerings and aggressive marketing strategies. The competitive landscape is marked by a blend of global giants and ambitious domestic brands. International players leverage established brand recognition and technological advancements, while Chinese manufacturers focus on price competitiveness and localized features tailored to the Chinese market. To navigate this dynamic environment, luxury car manufacturers are focusing on customization, digitalization, and enhanced customer experience to cater to the demands of increasingly discerning consumers. The market's future trajectory will be shaped by the balance between sustained economic growth, government policies, and technological innovations in the automotive sector. The transition towards electric mobility presents both opportunities and challenges, requiring significant investments in infrastructure and technological development. The continued growth of the Chinese luxury car market hinges on the ability of manufacturers to adapt to these evolving trends and meet the ever-changing demands of the Chinese consumer. Recent developments include: November 2022: According to BYD's official Weibo account, BYD's new luxury car brand is called "Yangwang." It will have a new and independent team for branding, products, sales and services network, and operation, with products expected to be officially launched in Q1 2023., August 2022: Infiniti announced the official launch of the QX55, an all-new luxury SUV, in China at the 2022 Chengdu Motor Show. It will be sold as an imported model in the country. It is available in four variants (one FWD and three AWD), with prices ranging from CNY 389,800 (USD 55,987.36) to CNY 475,300 (USD 68,267.81)., August 2022: In Wuhan, Hubei Province, Dongfeng Motor Company Limited (Dongfeng Motor) held a press conference. Dongfeng Motor introduced Mengshi, a luxury off-road EV (electric vehicle) brand, and its exclusive "M" logo at the conference. The Mengshi brand's first model will hit the market in 2023.. Key drivers for this market are: Growing Trend of EV are Likely to Drive the Market. Potential restraints include: High Cost of Luxury Vehicle May Hamper the Market Growth. Notable trends are: Premium Automakers and Second-Tier Brands Gaining Target Market Traction.

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Used Car Market Size 2025-2029

The used car market size is forecast to increase by USD 885.3 billion, at a CAGR of 7.4% between 2024 and 2029.

The market is experiencing dynamic shifts, driven by intensifying competition leading to an escalating launch of new car models and increasing consumer preferences for alternative mobility solutions. These trends are reshaping the market landscape, presenting both opportunities and challenges for stakeholders. Competition in the market is escalating, prompting automakers to introduce new models at a faster pace to maintain market share. This trend, in turn, is increasing the availability of pre-owned vehicles, providing consumers with a wider range of options. Meanwhile, consumer preferences are evolving, with a growing demand for car subscription services and car-sharing solutions.
These services cater to consumers seeking flexible, cost-effective mobility solutions, particularly in urban areas. However, this shift towards alternative mobility models poses a challenge for traditional used car dealers, requiring them to adapt and innovate to remain competitive. Digital marketing, including social media, mobile apps, and data analytics, helps sellers reach a wider audience. The market is undergoing significant transformation, fueled by increasing competition and evolving consumer preferences. Companies seeking to capitalize on opportunities and navigate challenges effectively must stay abreast of these trends and adapt their strategies accordingly. This may involve exploring new business models, such as car subscription services, or enhancing their offerings to cater to the changing needs of consumers.

What will be the Size of the Used Car Market during the forecast period?

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The market continues to evolve, with dynamic market activities unfolding across various sectors. Internal combustion engines power the majority of the market, but the emergence of electric vehicles is reshaping the landscape. Steering systems and suspension systems ensure optimal vehicle handling, while safety features such as backup cameras, parking sensors, and blind spot monitoring are becoming increasingly essential. Title transfer and engine displacement are crucial components of the sales process, with customer service and fuel efficiency key differentiators for dealers. Inventory management and pricing strategies are critical for wholesale auctions and online auto dealers, who must navigate the complex interplay of supply and demand. Vehicle registration and title transfer processes can be streamlined through digital means, and car refurbishment and connected car technology enhance safety and convenience.

Car loans and auto auctions offer financing options for buyers, while certified pre-owned vehicles and vehicle history reports provide transparency and value assurance. Adaptive cruise control and lane departure warning systems are among the advanced technologies enhancing the driving experience. Fuel efficiency and body panels are essential considerations for buyers, with infotainment systems and navigation systems adding convenience and value. The market's continuous evolution underscores the importance of staying informed and adaptable to changing consumer preferences and industry trends.

How is this Used Car Industry segmented?

The used car industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Vehicle Type

  Compact
  SUV
  Mid size


Channel

  Organized
  Unorganized


Fuel Type

  Diesel
  Petrol


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Vehicle Type Insights

The Compact segment is estimated to witness significant growth during the forecast period. The compact car segment in the used automobile market experiences significant growth due to increasing consumer preference for personal mobility and the availability of advanced features in compact vehicles. APAC and Europe lead the market, contributing a substantial share to the compact segment. Compact cars, which sit between subcompact and mid-size vehicles, offer easier handling in traffic congestion and lower emissions. Popular pre-owned compact models include the Fiat Panda and Volkswagen Golf in Europe. Inventory management plays a crucial role in the market, ensuring a steady supply of various models. Used car dealers source vehicles from private sellers, wholesale auctions, and trade-ins.

Vehicle history reports help assess the con

The average passenger car export price stood at $13,127 per unit in February 2025, increasing by 5.5% against the previous month.

China Electric Vehicle, Part, Transportation Facility: Taobao and Tmall Online Sales: Product Average Price data was reported at 223.340 RMB in Aug 2020. This records an increase from the previous number of 206.990 RMB for Jul 2020. China Electric Vehicle, Part, Transportation Facility: Taobao and Tmall Online Sales: Product Average Price data is updated monthly, averaging 206.990 RMB from Jun 2019 (Median) to Aug 2020, with 15 observations. The data reached an all-time high of 347.930 RMB in Feb 2020 and a record low of 121.420 RMB in Jun 2020. China Electric Vehicle, Part, Transportation Facility: Taobao and Tmall Online Sales: Product Average Price data remains active status in CEIC and is reported by Moojing Market Intelligence. The data is categorized under China Premium Database’s Consumer Goods and Services – Table CN.HTB: Taobao and Tmall Online Sales: Others.

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The new energy vehicle market share in China is expected to increase to USD 370.23 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 38.24%.

This new energy vehicle market in China research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers new energy vehicle market segmentation in China by propulsion (pure EV, PHEV, and FCV) and vehicle type (passenger NEV and commecial NEV). The new energy vehicle market in China report also offers information on several market vendors, including BYD Co. Ltd., Chery Automobile Co. Ltd., China FAW Group Co. Ltd., Chongqing Changan Automobile Co. Ltd., Dongfeng Motor Corp., Great Wall Motor Co. Ltd., Guangzhou Automobile Group Co. Ltd., Hezhong New Energy Automobile Co. Ltd., Jiangsu Kaiwo Automobile Co. Ltd., Li Auto Inc., NIO Ltd., SAIC Motor Corp. Ltd., Tesla Inc., Wuling Motors Holding Ltd., Xiaopeng Inc., Yutong Bus Co. Ltd., Zhejiang Geely Holding Group, Zhejiang Leapao Technology Co. Ltd., Zhongtong Bus Holding Co. Ltd., and Beijing Automotive Group Co. Ltd. among others.

What will the New Energy Vehicle Market Size in China be During the Forecast Period?

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New Energy Vehicle Market in China: Key Drivers, Trends, and Challenges

The growing focus on the development of NEV charging infrastructure is notably driving the new energy vehicle market growth in China, although factors such as the FCVs removed from the NEV benefits may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the new energy vehicle industry in China. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key New Energy Vehicle Market Driver in China

One of the key factors driving growth in the new energy vehicle market is the growing focus on the development of NEV charging infrastructure. 
The government, as well as original equipment manufacturers (OEMs), are focusing on developing the charging infrastructure, which would aid in the mass adoption of electric cars and public transport vehicles.
China has the highest number of charging stations in the world.
As of 2021, the total number of charging stations in China reached more than 1 million. China's draft energy vehicle development plan 2021-2035 is aimed to increase the share of NEVs to 20% of the total vehicle sales in China by 2025.
The plan also focuses on R&D areas for various charging infrastructures such as high-voltage charging, wireless charging, safety monitoring, and warning systems for charging infrastructure. Further, the government is planning to add more EV charging stations to support the target of 20 million EVs by 2025.

Key New Energy Vehicle Market Trend in China

The application of ultra-capacitors in EV energy storage systems is a new energy vehicle market trend in China that is expected to have a positive impact in the coming years. 
Ultra-capacitors used for energy storage and for the discharge function in the battery packs for EVs are highly attractive futuristic trends.
China-based CRRC Corp. Ltd. has already tested ultra-capacitors, and they have been in use for powering its public transport buses since 2008.
In June 2021, the first electric bus equipped with an ultracapacitor started operating in the Tongzhou district of China. 
The price of ultra-capacitors will decline during the forecast period, with a high demand for ultra-capacitors over batteries. Moreover, in the long term, the total cost of ownership will decrease with ultra-capacitors, as the lifespan of ultra-capacitors is more than two times compared to normal Li-ion batteries.
The implementation of this trend can boost the growth of the electric bus industry in China, thus driving the growth of the market in focus.

Key New Energy Vehicle Market Challenge in China

The FCVs removed from the NEV benefits will be a major challenge for the new energy vehicle market in China during the forecast period. 
FCVs were a part of the NEV policy and were getting subsidy benefits till April 2020, post which the Chinese government planned to remove these vehicles from NEV benefits. This severely affected the manufacturers who concentrated their major business on FCV rather than pure EVs. This pushed down the end user’s adoption of FCVs, especially in 2020. 
The government’s strict regulations on automakers toward NEV product portfolio will, in turn, make OEMs curtail their fuel cell businesses and move on to all-electric technologies, which will require huge investments and rapid R&D activi

China Consumer Price Index (CPI): TC: Transportation: Vehicle Use & Maintenance data was reported at 102.800 Prev Year=100 in 2018. This records an increase from the previous number of 101.800 Prev Year=100 for 2017. China Consumer Price Index (CPI): TC: Transportation: Vehicle Use & Maintenance data is updated yearly, averaging 101.900 Prev Year=100 from Dec 2001 (Median) to 2018, with 18 observations. The data reached an all-time high of 104.511 Prev Year=100 in 2012 and a record low of 98.900 Prev Year=100 in 2003. China Consumer Price Index (CPI): TC: Transportation: Vehicle Use & Maintenance data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Inflation – Table CN.IA: Consumer Price Index.