The overall performance of the used car market in May 2022
In May 2022, a total of 1,188,400 second-hand cars were traded across the country, a month-on-month increase of 7.98% and a monthly decrease of 18.72% year-on-year. The transaction amount was 82.556 billion yuan, a month-on-month increase of 9.85% and a year-on-year decrease of 7.87%.
From January to May 2022, the cumulative transaction volume of used cars was 6,168,600 units, a year-on-year decrease of 10.69%, and a decrease of 739,000 units compared with the same period in the same period. 0.75%.
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In May, the national epidemic situation was still severe, and the prevention and control measures in various places were still being tightened. The offline passenger flow and transaction volume of the used car market were not strong. Although the market has a slight upward momentum after the May 1st holiday, it is obviously lack of upward momentum, and it is still hovering at a low level in a recession. At present, the small increase in transaction volume mainly comes from the gradual resumption of normal operations by operating companies in the three northeastern provinces. However, the epidemic in Beijing in May affected the entire North China region, and there was a very obvious decline in May. From the perspective of scale, North China The region accounts for about 13% of the national transaction volume, and cities such as Hebei Langfang and Tianjin have been greatly affected.
Judging from the used car manager index in May, it was only 37.7%, below the line of prosperity and decline. Due to the impact of the epidemic, the overall economic situation has declined, which has reduced residents' income. In addition, the continued rise in oil prices has reduced consumers' willingness to buy cars. .
From the perspective of dealers' operation, the decrease in the rate of consumers entering stores in May is still the main problem affecting the sales of used cars. At the same time, supported by the preferential price of new cars on May 1st and the local government's car purchase subsidies, some consumers who were willing to buy used cars If the customers buy new cars, the inventory in the saturated state will not be released, which will prolong the inventory turnover time. The data shows that the average inventory cycle of used cars in May was 47 days, which was 2 days longer than that in April. The recovery of funds by car dealers was delayed, and the operating risk was also increased.
Due to seasonal factors from June to August, the market has also entered a traditional off-season period. In June, some of the consumer demand that was delayed in the early stage will be transformed, especially the market transactions in Beijing, Shanghai, Zhengzhou and other places will rebound. At the same time, the national epidemic prevention trend continues to improve, and the resumption of work and production in various regions is carried out in an orderly manner, but there are also occasional cases of sporadic distribution and local gatherings. Therefore, the market in June is still cautiously optimistic. It is expected to be the same as the same period last year.
The following is a detailed analysis of the structural characteristics of the used car market in May:
Structural analysis of used cars by model in May 2022
Specifically, the passenger car situation in May: a total of 704,100 basic passenger cars were traded, a month-on-month increase of 8.21%, and a year-on-year decrease of 20.46%; a total of 154,400 SUVs were traded, a month-on-month increase of 8.66% and a year-on-year decrease of 2.43%; MPV A total of 68,300 vehicles were traded, a month-on-month increase of 7.51% and a year-on-year decrease of 19.63%; a total of 28,100 cross-type passenger vehicles were traded, a month-on-month increase of 8.96% and a year-on-year decrease of 14.44%.
Commercial vehicles: 82,200 passenger cars, a month-on-month increase of 5.35% and a year-on-year decrease of 26.23%; 96,900 trucks, a month-on-month increase of 9.78% and a year-on-year decrease of 21.22%.
In May, both passenger cars and commercial vehicles increased month-on-month, but they were still down 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 the service life of used car trading vehicles in May 2022
In May, the transaction volume of used cars with a service life of 3-6 years was the largest, accounting for 40.8%, an increase of 0.4 percentage points from the previous month and an increase of 3.8 percentage points from the same period last year; models with a service life of 3 years accounted for 31.8%, The number of vehicles increased by 0.3 percentage points month-on-month and 10.4 percentage points year-on-year; vehicles aged 7-10 years accounted for 17.8%, an increase of 0.2 percentage points month-on-month and a decrease of 7.3 percentage points compared with the same period last year; vehicles aged more than 10 years The proportion of models sold by the company was 9.6%, a decrease of 0.9 percentage points from the previous month and a decrease of 6.8 percentage points from the same period last year.
Analysis of the six major regions in May 2022
Used car transactions in six regions in May 2022
In May 2022, only the North China region of the six major regions in the country saw a significant decrease month-on-month, and other regions all increased to varying degrees. Among them, the Northeast region has the most obvious growth, with a month-on-month increase of 98.02%, and the second-hand car transaction volume was 64,500; followed by the East China region, which increased by 16.73% month-on-month, and the second-hand car transaction volume was 383,300; the Northwest region increased by 6.91% month-on-month. The transaction volume was 55,600; the southwest and central-south regions increased by 3.35% and 2.31%, respectively, and traded 203,800 and 357,000 used cars respectively. In May, Changchun City returned to normal production and life in an orderly manner, and the second-hand car market The resumption of normal operations has become the main factor driving the growth of the Northeast region. North China decreased by 12.21% month-on-month, with a total of 124,200 vehicles traded. Mainly because the second-hand car transactions in Beijing and Hebei have dropped significantly month-on-month due to the impact of the epidemic.
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 May, the proportion of second-hand car transfers was 21.77%, a slight decrease of 0.4% from the previous month, and a decrease of 6.6 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 second-hand cars in the country will improve significantly in June.
