14,341,400 second-hand car transactions in 2020, favorable policies
Yesterday (January 12), the China Automobile Dealers Association released data showing that in December 2020, the national second-hand car market transaction volume was 1,707,900 vehicles, an increase of 8.52% month-on-month and a year-on-year increase of 1.27%; annual second-hand car transaction data Following the announcement, in 2020, a total of 14.341,400 second-hand vehicles were traded nationwide, a year-on-year decrease of 3.90%, and the decline narrowed to less than 4%. The total transaction amount reached 888.837 billion yuan, a year-on-year decrease of 5%.
From a trend point of view, after the domestic used car transaction was affected by the epidemic approaching freezing point in February last year, the remaining 10 months of the year showed an 'astonishing' 'ten consecutive riseCompared with 2019, the trend of domestic second-hand car transactions is also significant. After the 'recovery period' after the epidemic, domestic second-hand car transactions from July to December have exceeded the same period of the previous year. Since August, there have been two consecutive months. The number of digits increased until December reached the highest point of the year.
From the perspective of the main trading models in the second-hand car market, in 2020, a total of 8,586,800 basic passenger vehicles were traded, a year-on-year decrease of 0.32%; a total of 1,370,700 SUVs were traded, a year-on-year decrease of 7.44%; a total of MPVs were traded 831,900 vehicles, a year-on-year decrease of 13.09%; a total of 339,300 crossover passenger vehicles were traded, a year-on-year decrease of 9.16%; passenger cars were 1,233,700, a year-on-year decrease of 12.73%; trucks were 1,326,100 vehicles, a year-on-year decrease of 3.11%.
From a regional perspective, East China is still the most actively traded area, with a total of 4,792,200 second-hand vehicles traded throughout the year, accounting for 33.41% of the national trade volume; followed by Central South and Southwest China, with 3,936,600 vehicles respectively And 1,987,900 vehicles, accounting for 27.45% and 13.86% of the national transaction volume. The three major regions accounted for 74.72% of the total; North China, Northeast, and Northwest China respectively traded 1.883 million vehicles, 1.067 million vehicles and 736,100 vehicles, accounting for the country’s total transaction volume. 13.13%, 7.02% and 5.13%.
From the perspective of vehicle age, in 2020, a total of 3.4293 million second-hand cars with a vehicle age of less than 3 years were traded, accounting for 23.91% of the total transaction volume; a total of 5,416,300 car models with a vehicle age of 3-6 years were traded Vehicles, accounting for 37.77%, although a year-on-year decrease of 3.41 percentage points, it still accounted for the largest proportion; the proportions of vehicles with 7-10 years of age and vehicles over 10 years of age increased by 1.82 percentage points and 2.47 percentage points, respectively.
In 2020, the total number of second-hand car transfers will be 3.938 million, and the transfer ratio will be 27.46%, a year-on-year decrease of 0.41%. This is mainly affected by the epidemic. However, with the effective prevention and control of the domestic epidemic, the cross-regional circulation of second-hand cars is showing signs of gradual improvement. Among them, the transfer rate for 6 consecutive months from July to December was higher than the same period last year. The proportion of car transfers has reached a new high of 28.88% during the year.
It is worth noting that, as the growth of new cars is showing signs of weakness, coupled with the vigorous promotion of policies, used cars are becoming a new growth point in the domestic automobile circulation market. On March 31 last year, the State Council’s executive committee determined that a 0.5% value-added tax would be levied on the sales of used cars by second-hand car dealerships; on April 29, the Development and Reform Commission and other 11 departments announced the 'Notice on Several Measures to Stabilize and Expand Automobile Consumption' Procedures for car dealership enterprises, etc.
