Used car transactions in 2021 increased 22.62 percent year-on-year

2022-06-27 0 By

China Automobile Dealers Association has released an in-depth analysis report on the country’s used car market in 2021.In 2021, 17.5851 million used cars were traded, up 22.62 percent from the same period last year, according to the report.During the same period last year, due to the impact of the epidemic, 14.34 million used cars were traded in China, up 17.84 percent from the same period in 2019.In December 2021, the number of used cars traded nationwide was 1.618,200, down 5.25 percent from the same period last year.Since the fourth quarter, year-on-year negative growth has been recorded, mainly due to the spread of the epidemic and the high base of the same period last year.The demand for the same period of 2020 was released in the fourth quarter, with the transaction volume increasing by 17% compared with the third quarter, reaching the highest growth rate in the same period of the year.The number of used cars traded in December 2020 reached 1.7 million, also the highest in years.From the perspective of the trading curve in 2021, the overall trend shows an upward shock. December is still the highest point of the year, which is basically consistent with the trading trend of previous years.In terms of market segment changes, in 2021, a total of 10.5911 million basic passenger cars were traded, with a year-on-year growth of 23.34%.1,320,300 passenger cars, up 7.02% year on year;There were 1.4538 million trucks, up 9.63% year on year;1.9763 million SUVs, up 44.18% year on year;MPV 1.0086 million, with a year-on-year growth of 21.24%;There were 402,300 crossover passenger vehicles, up 18.59 percent year on year.In 2021, all models have different degrees of growth compared with 2020, among which SUV models have the most obvious growth, with a growth rate of more than 40%.In general, the first quarter of 2021 was the least affected by factors such as the Spring Festival holiday.The second and third quarter of second-hand transactions are relatively stable, accounting for the basic flat.In the fourth quarter, affected by adverse factors such as the spread of the epidemic, the proportion of second-hand car trading volume fell significantly compared with the previous two years, but it was still the highest for the whole year.In terms of regional distribution, in 2021, the second-hand car trading volume in the six regions of China has increased significantly compared with the same period in 2020.The most obvious growth was in central and southern China, with a 26.26% increase compared with the same period in 2020, with the volume of used car transactions reaching 4.9703 million.This was followed by the Southwest region, which saw a year-on-year growth of 25.94%, with 2.5035 million second-hand car transactions.The northwest region saw a year-on-year growth of 24.19%, with 914,100 second-hand cars traded;East China saw a year-on-year growth of 22.59%, with the volume of used car transactions reaching 5.8737 million;The northeast and North China regions traded 1.1590 million and 2.1645 million units respectively, up 15.13 percent and 14.95 percent from the same period in 2020.In 2021, the transaction volume of each region has increased. This year, with the good national economic situation, the demand for automobile consumption has increased, and the second-hand car transaction activity has improved.The low base effect caused by the epidemic in 2020 is gradually diminishing.In terms of the cross-regional circulation of second-hand cars, the ratio of second-hand cars to naturalization in 2021 was 27.32%, slightly lower than the same period in 2020.With the gradual elimination of barriers to the circulation of second-hand cars in various regions of the country, the free circulation of second-hand cars in China is getting faster and faster. This positive factor promotes the domestic second-hand car trade in the past 10 years, the conversion rate has been increasing year by year.(Article source: International Business Daily)