The overall performance of the used car market in June 2022
In June 2022, a total of 1.4166 million second-hand cars were traded across the country, a month-on-month increase of 19.20% and a month-on-month decrease of 7.23% year-on-year, with a transaction amount of 95.941 billion yuan.
From January to June 2022, the cumulative transaction volume of used cars was 7.5852 million, a year-on-year decrease of 10.07% and a decrease of 849,000 compared with the same period, with a cumulative transaction value of 526.332 billion yuan.
In June, the overall situation of my country's epidemic prevention and control has stabilized and improved. The area where the restrictions on the relocation of used cars have been cancelled has been further expanded. The transaction scale of the used car market is significantly better than that in May, with a month-on-month increase of 19.2%, and the market has gradually recovered.
Looking at the market situation in the first half of the year, due to the impact of the epidemic, the income of residents has decreased, and the continuous rise in oil prices has generally reduced consumers' willingness to buy cars. The used car market has experienced an unprecedented difficult period. From the perspective of monthly transaction trends, the epidemic situation across the country has been severe since mid-to-late March. The offline passenger flow and transactions in the second-hand car market are not strong. The transaction has experienced negative growth for the first time year-on-year. The market has been hovering in a recession. This trend has been continue until May. This month, with the implementation of the purchase tax policy in the new car market, the retail side also showed substantial growth. At the same time, the vehicle replacement rate has also increased, the second-hand car source has been continuously enriched, and the second-hand car market has begun to gradually improve. Judging from the second-hand car manager index, it was 42.5% in June. Although it is still below the line of prosperity and decline, it is generally higher than other months in the first half of the year, indicating that the business confidence of enterprises is gradually recovering. In addition, judging from the inventory situation of used car dealers, with the gradual release of the relocation restriction policy, inventory pressure has also been effectively released this month, which is also one of the factors for the increase in transaction volume this month.
On June 22, the executive meeting of the State Council proposed to further release the potential of automobile consumption. One of the most important is to activate the used car market and promote car renewal consumption. It can be seen that trade-in has become the largest demand in the auto market, and in the process of trade-in, used cars will play a decisive role. As an important link in the entire life cycle of automobiles, used cars play an increasingly important role in revitalizing the car stock, driving the increase in new cars, and promoting car consumption. With the continuous optimization of the consumption environment, it is expected that the consumption in the second-hand car market will continue to make up next month, and the transaction volume is expected to be higher than the same period. In addition, a series of policies that benefit the second-hand car industry have been implemented. The second half will be full of more opportunities and challenges.
The following is a detailed analysis of the structural characteristics of the used car market in June:
Structural analysis of used cars by model in June 2022
Specifically, the passenger car situation in June: a total of 834,200 basic passenger cars were traded, an increase of 18.47% month-on-month and a year-on-year decrease of 9.67%; a total of 181,600 SUVs were traded, a month-on-month increase of 17.61% and a year-on-year increase of 9.52%; MPV A total of 89,600 vehicles were traded, an increase of 31.24% month-on-month and a year-on-year increase of 0.65%; a total of 32,700 cross-type passenger vehicles were traded, a month-on-month increase of 16.49% and a year-on-year decrease of 4.22%.
Commercial vehicles: 90,500 passenger cars, an increase of 10.10% month-on-month and a year-on-year decrease of 21.16%; 119,300 trucks, a month-on-month increase of 23.05% and a year-on-year decrease of 7.46%.
In June, both passenger cars and commercial vehicles increased month-on-month, but still fell significantly from the same period last year. Passenger cars increased by 8.25% month-on-month, down 17.77% from the same period last year. Commercial vehicles increased by 7.70% month-on-month, down 23.60% from the same period last year.
Analysis of vehicle service life in used car trading in June 2022
In June, the transaction volume of used cars with a service life of 3-6 years was the largest, accounting for 41.5%, an increase of 0.7 percentage points from the previous month and an increase of 3.1 percentage points from the same period last year; models with a service life of 3 years accounted for 31.5%. It decreased by 0.3 percentage points month-on-month and increased by 8.7 percentage points compared with the same period last year; 18.2% of the models were 7-10 years old, an increase of 0.3 percentage points month-on-month and a decrease of 5.5 percentage points compared with the same period last year; vehicles aged more than 10 years The proportion of models sold by vehicles was 8.8%, a decrease of 0.8 percentage points from the previous month and a decrease of 6.3 percentage points from the same period last year.
Analysis of the six major regions in June 2022
Used car transactions in six regions in June 2022
In June 2022, there will be significant growth in the six regions of the country. Among them, the northwest region has the most obvious growth, mainly driven by Gansu and Qinghai, which increased by 55.9% month-on-month, and the second-hand car transaction volume was 86,700; followed by the North China region, which increased by 40.83% month-on-month, and the second-hand car transaction volume was 174,900. Among them, the Beijing-Tianjin-Hebei three places had a low base due to the impact of the epidemic last month, and the suppressed consumer demand was transformed this month;
The Northeast region increased by 39.31% month-on-month, and the second-hand car transaction volume was 89,900, of which Heilongjiang and Jilin provinces increased by more than 40% month-on-month; after Shanghai lifted the blockade in early June, the transaction volume in East China continued to rebound and increased by 22.14% month-on-month. The second-hand car transaction volume was 468,200 units; the southwest and central-south regions increased slightly, increasing by 8.28% and 5.40% respectively, and the second-hand car transactions were 220,700 units and 376,200 units respectively;
Cross-regional circulation in 2022
Data shows that the upgrade of anti-epidemic policies in many places has had a great impact on the cross-regional circulation of used cars. Since March, the transfer rate has dropped significantly compared with the same period last year. In June, the prevention and control situation in Shanghai, Beijing and other places has been fully stabilized, and the order of social production and life has been gradually restored. The ratio of second-hand car registration was 25.19%, an increase of 3.4% month-on-month and a decrease of 3.1 percentage points from the same period last year. With the improvement of the national epidemic prevention and control situation and the promotion of the comprehensive cancellation of the policy of restricting the relocation of used cars, it is expected that the cross-regional circulation of used cars across the country will continue to improve in July.
