Change in used car unit sales in China 2010-2024

In 2024, sales of used cars in China increased by about *** percent compared to the previous year.

International used car market

China is the largest automobile market worldwide, both in regard to production and sales. In 2024, the production volume of passenger cars in China had amounted to ************* units, that was more than *** times the number of Japan, the second largest automotive manufacturer in the world. Furthermore, approximately ************vehicles had been sold in China that year, more than ********** more than the sales volume in the United States. The steady year-on-year growth of the used car market has led to its increasing share of the overall Chinese auto market. In 2024, the number of used cars sold in China had reached around ********** units.

Chinese customers for used cars

Chinese customers viewed used cars much less favorably than buyers in developed countries, as newly registered vehicles still outnumbered the used car sales in China. Moreover, Chinese consumers preferred younger second-hand cars. More than **** percent of used cars traded in China aged below ten years old in 2021, while the price below ****** yuan seemed to be more favored.