The rebound is improving. The average transaction price of new energy second-hand cars in Tiantianpaiche in July increased by 3,100 yuan month-on-month.

In July, under the influence of high temperatures and changeable extreme weather, the second-hand car market entered the traditional off-season. This year, faced with the challenge of fierce price marketing in the new car market, the second-hand car market has been greatly impacted. Second-hand car practitioners generally lament that they have experienced operating pressure not seen in many years.

However, in the complex market environment, the used car market has proactively adjusted, demonstrating the resilience and flexibility of industry development. According to data from the China Automobile Dealers Association, in July, the national second-hand car transaction volume reached 1.6094 million units, a month-on-month increase of 5.95%. From January to July 2024, the cumulative transaction volume of second-hand cars nationwide was 10.9923 million units, a year-on-year increase of 6.3%.

The implementation of car scrapping and updated consumption policies not only provides a rich source of cars for the second-hand car market, but also creates good opportunities for second-hand car consumption. Entering the second half of the year, as new car price marketing tends to be rational and moderate, the urgency of exchanging price for volume in the second-hand car market has been alleviated, which is conducive to price stability in the upstream and downstream of second-hand cars. Tiantianpaiche, as an Internet car selling platform, is a car source purchasing platform for many domestic second-hand car practitioners. It released the "July Used Car Transaction Price Express" to provide the market and consumers with real and effective price guidance.         

The purchase price of new energy second-hand cars has increased month-on-month

Since the beginning of this year, driven by a series of automobile consumption-promoting policies, a large number of "older" cars have been released into the second-hand car market. Judging from the data of Tiantian Paiche, the age of second-hand car transactions in July 2024 was 7.8 years, a year-on-year increase of 0.1 years. Among them, the age of second-hand car transactions in July 2024 for fuel vehicles was 8.3 years, a year-on-year increase of 0.2 years; new energy vehicles The age of second-hand car transactions was 3.8 years, a year-on-year increase of 0.3 years.

In terms of transaction price, the average transaction price of used cars on the platform in July 2024 was 56,400 yuan, of which the average transaction price of fuel used cars was 53,700 yuan. yuan, and the average transaction price of new energy second-hand cars was 77,400 yuan.

In June 2024, the average transaction price of used cars on this platform was 57,000 yuan, of which the average transaction price of fuel used cars was 54,700 yuan, and the average transaction price of new energy used cars was 74,300 yuan.

Judging from comprehensive data, the transaction prices of new energy second-hand cars showed signs of recovery in July this year. On the one hand, it benefited from the two-wheel drive development of the new energy industry by policies and the market. Consumers are more interested in new energy vehicles. The acceptance and demand for energy vehicles are increasing day by day; new energy used cars have become a new opportunity for industry development. As the market confidence of many second-hand car dealers is recovering, they are changing their business direction and opening up differentiated new energy used car operations in response to market changes. , especially some high-quality new energy used cars are welcomed by the market, such as Tesla Model 3 and Model Y.        

The purchase price of 15 most popular second-hand cars has "cooled down", and buyers have "cut costs"

The national average price of second-hand cars increased slightly in July. According to data from the China Automobile Dealers Association, since 2024, the national average price of second-hand cars has experienced a market high of 69,600 yuan in February, and has plummeted all the way to 64,400 yuan in June. The average price of second-hand cars in July was 65,100 yuan. yuan, a slight rebound of 700 yuan from the previous month.

Under the superimposed influence of multiple factors, the price of second-hand cars mainly traded on the Tiantian Paiche platform. The transaction prices of the 15 most popular second-hand cars in July this year have generally cooled down, among which 5 years The average transaction price of the top 15 models in terms of age dropped by 13.9% on average, with Buick Hideo seeing the largest year-on-year drop of 29%. The average transaction prices of Volkswagen Lavida and Volkswagen Polo 5-year-old vehicles increased by 8.6% and 3.5% respectively. In addition, in the 8-year age category, the average transaction price of the 15 major models fell by 15.1% on average, with the Volkswagen Lavida, Buick Hideo, and Honda Accord falling by 41.4%, 40.8%, and 35.3% respectively, showing poor performance. However, there are also models with outstanding performance, such as the eight-year-old Buick GL8, Volkswagen Magotan, and Mercedes-Benz E-Class, whose average transaction prices have increased significantly.

From the perspective of vehicle classification, Wuling Hongguang MINIEV, smart fortwo, Chery New Energy Ant, Leapmo T03, Suzuki Alto and other mini cars, because of their small size, classic style and low price, are the An economical choice for families to travel around and pick up their children; representative small cars such as the Volkswagen Polo, MINI-MINI, Honda Fit, Kia K2, and Hyundai Reina are generally not expensive and have low operating costs, making them suitable for urban travel. Compact cars such as the Ford Focus, Toyota Corolla, and Volkswagen Golf are highly durable. They are well-known models that the brand has built over many years and have a very large number of copies. In the mid-size car category, the BMW 3 Series, Audi A4L, Volkswagen Magotan, Mercedes-Benz C-Class and Honda Accord lead in second-hand car transaction volume, with average transaction prices ranging from 50,000 to 100,000.

In terms of transactions of medium and large cars and large cars, BBA models occupy the C position, with BMW 5 Series, Audi A6L, Mercedes-Benz S-Class and BMW 7 Series having larger transaction volumes. In terms of SUV transactions, the self-owned brand Haval H6 has a larger transaction volume, followed by joint venture brands such as Volkswagen Tiguan, Honda CR-V, BMW X1, Audi Q5 and other commonly seen models on the road. Buick GL8, Honda Odyssey, and Volkswagen Touran ranked at the top of the MPV category transaction list.

Regarding the transaction data in July, Tiantianpaike COO Zhang Yanwei generally believes that the market trend is improving in terms of confidence and transaction data. After all, after experiencing the complex situation and challenges in the first half of the year, the platform has also made great adjustments. I believe that operators in various formats in this industry have rested and accumulated confidence in their mentality, re-examined their business, and become more rational and based on mid- to long-term development. Anticipate development paths. Talking about Tiantianpaiche, since Tiantianpaiche belongs to the upstream of the second-hand car trading chain, that is, the generation link of car sources, logically speaking, the platform transaction volume illustrates the downstream demand, and the transaction price determines the downstream consumer price level. With current vehicle procurement costs at a low level, inventory can be appropriately reserved.

Regarding the upcoming second-hand car market, Zhang Yanwei said that we will maintain a cautious attitude and operating pace in the next few months. The most pressing time may have passed, but good times still require patience. On the one hand, we need to endure; on the other hand, we must seize market opportunities, integrate our own advantageous resources, and attack with clenched fists. Only by living long can we live well.​

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