Highlights:
1. Sina Technology visited the used motor vehicle trading market in Beijing and found that in just half a year, the second-hand car market has experienced a "double day of ice and fire", and now the price increase carnival has ended.
2. The appraiser of the second-hand car platform bluntly said that the pure electric vehicle model that will be evaluated in 2022 will have a 50% discount on the basis of the new car price for two years, and a 40% discount for three years, and the retention rate is extremely low.
3. New energy vehicle owners usher in the "3-year replacement" node. Some second-hand car intermediaries revealed that new energy vehicles have reached 40% of the proportion of cars received. However, according to the survey, in the whole of 2021, 82% of the new energy used car transaction prices are less than 120,000 yuan.
Beijing used motor vehicle trading market was established in 1985, because it is located in The Huaxiang Bridge of the South Fourth Ring Road of Beijing, so it is often called "Huaxiang Used Car Market".
Under the background of "lack of core", the second-hand car market in the past six months can be described as "ice and fire double heaven". The owner, Mr. Luo, previously revealed that he sold the car in August last year, and the Model Y was recycled at a high price. A recent visit by Sina Technology found that the "good things" that Mr. Luo encountered have disappeared.
Is it true that new energy vehicles are not fragrant?
"After entering 2022, all pure electric vehicle models evaluated on the doorstep, the car evaluation price of about two years (on the basis of the price of new cars) is 50% off, and most of the three years are 40% off, and the retention rate is extremely low." A used car appraiser told Sina Technology that the price of fuel used cars is no longer higher and returns to rationality.
Visit: Why are used car prices falling?
Throughout 2021, many car companies are deeply troubled by "lack of cores" and reduce production, resulting in an extension of the delivery cycle of new cars and a reduction in discounts. Under the favorable policies, many consumers turn to second-hand cars.
The influx of demand has pushed up the price of some used cars. "In fact, it is more of a BBA (Mercedes-Benz, BMW Audi) and other used cars to increase prices, and some special car models (such as Camry, Passat, Tianlai) have not directly increased prices, but the price is very stable." A car dealer at The Used Car Market in Huaxiang, Beijing, told Sina Technology.
The car dealer said that before October 2021, if you charge a Camry, the price is the same as two years ago; the main models of brands such as Mercedes-Benz C-Class and BMW 3 Series are even higher than two years ago.
The reason why used car dealers are willing to collect cars at a high price is because they are easy to sell after recycling, and they can sell at a higher price. "Last year, when we had a good time, a car stayed in our hands for no more than 6 days, and the fastest was collected in the morning and sold in the afternoon." An intermediary in the used car market said.
Many economic vehicles, such as Volkswagen's Golf and Toyota's Corolla, have been affected by the price increase of second-hand cars, and the price decline has also slowed down significantly. "When I wanted to sell my golf in 2019, the 35,000 yuan that the used car dealer gave me an appraisal was too low at the time. When it was sold again after two years, the second-hand car dealer quoted 33,000 yuan. It is equivalent to spending 2,000 yuan to open for two years. Ms. Che told Sina Technology.
However, this round of used car price increases ended in October 2021. A second-hand car appraiser in Huaxiang said that near the end of the year, generally major brands have to rush annual sales, dealers also have to clean up inventory, some models that rely less on chips Will not have too long delivery periods, and merchants will also give discounts.
Mr. Li, the owner of the car, told Sina Technology that when he went to see Audi in August 2021, the offer was not as big as before, almost negligible. By the end of the year, the offer was much bigger. "Go see it before the Spring Festival, and there are even a few existing cars with a discount of 20%." He said that second-tier luxury brands such as Volvo and Cadillac have greater discounts than before.
The above-mentioned used car intermediary said that as far as the second-hand car market is concerned, generally from March to September is the off-season, and the price of used cars shows a gradual downward trend, from November to February of the following year is the peak season. But 2021 is an exception, from March to October, the price of used cars continues to rise, it is advisable to sell and not to buy; from the middle and late October of 2021, the price of used cars is relatively stable, and the prices of many cars are going down.
The price of used cars is greatly affected by the supply and price of new cars. Sina Technology visited the 4S stores of Volvo, Cadillac, Audi and other brands and found that many new car discounts are very strong, and the highest bicycle discount is even 110,000. Although Audi's 20% discount is only a rare case, many popular models have also given 30,000-40,000 discounts.
"This preferential policy is extended from the end of 2021 to the Spring Festival in 2022, and there are some additional discounts for Spring Festival activities." The sales staff of a brand 4S store told Sina Technology.
However, many second-hand car dealers are still stepping up their car collection, hoping to seize the tail of the peak season to impact performance. "The price in February will certainly not be the same as in March, much lower than in February. So now we are all stepping up to collect the car and ship it out. "A car dealer in the Huaxiang used car market said that at present, they are more willing to collect some low-cost small-displacement cars and then ship them to other places." Mercedes-Benz C-Class, Camry and other best-selling models, if the car is particularly good, now also received. He added.
Although prices have fallen, the proportion of new energy models in used car transactions continues to rise.
"A year ago, the number of new energy vehicles we tested at home was only 1 in 10, and from recently, almost 4 out of 10 are new energy vehicles." A second-hand car platform inspector said that many new energy car owners have stood at the time point of 3-5 years, such as the first batch of imported Model 3 owners, which has been almost three years ago.
This was unthinkable a year ago.
The person in charge of a second-hand car platform said that the market share of new energy vehicles in early 2021 is not high, and the price is more unstable, so the proportion of new energy vehicles in many second-hand car platforms is not high, "On our platform, the new energy models sold in early 2021 are only three or four at most." ”
By the end of 2021, the number of new energy models and quantities on used car platforms has increased significantly. Sina Technology has found on multiple platforms such as Guazi Used Car, Uxin, renren car, etc., that there are many new energy models for sale, including representatives of new car-making forces such as Ideal, Weilai and Xiaopeng, as well as foreign brands such as Mercedes-Benz and Tesla.
According to the survey data of the China Automobile Dealers Association, in 2021, the price of new energy second-hand cars under 50,000 yuan will account for 50%, of which 28.02% will be less than 30,000 yuan, and 22.98% will be 30,000-50,000 yuan. 82% of new energy used cars are trading at less than 120,000 yuan.
However, 63% of the new energy vehicles that enter the second-hand market in 2021 have a service life of less than 4 years, of which 22.6% are less than two years old.
Continued boom in the used car market?
From 2018 to 2020, China's cumulative passenger car sales fell for three consecutive years, until 2021, when positive growth returned. In stark contrast, in 2018 and 2019, China's used car trading volume maintained positive growth.
At the beginning of 2020, due to the impact of the epidemic, the volume of used car transactions shrank. However, at the end of 2020, the volume of used car transactions rebounded strongly, according to the Data of the China Automobile Dealers Association, in December 2020, China's used car trading volume exceeded 1.7 million units, even higher than the trading volume in December 2021.
Statistics from the China Automobile Dealers Association show that in 2021, China's used car trading volume will continue to maintain positive growth, with an increase of 22.62% over 2020. If the impact of the epidemic is excluded, compared with 2019, the growth rate of China's used car trading volume has also reached 17.84%, which is far more than the new passenger car trading volume.
In the past three years, the used car market has received more and more policy support, which has boosted the prosperity of the market.
In the government work report of the two sessions in 2018, it was proposed to "completely cancel the policy of restricting the relocation of second-hand cars". The March 2021 "Two Sessions" government work report mentioned "abolishing unreasonable restrictions on used car transactions". Subsequently, in April 2021, the three ministries and commissions of the Ministry of Commerce, the Ministry of Public Security and the State Administration of Taxation issued the Notice on Promoting the Registration of Used Car Transactions and Facilitating the Cross-provincial Communication and Facilitating The Transaction of Used Cars in Different Places (hereinafter referred to as the "Notice"), once again accelerating the cross-regional circulation of used cars.
From June to August 2021, the number of pilot cities notified was also expanded from 20 to 218. According to the data of the All-China Federation of Industry and Commerce Automobile Dealers Chamber of Commerce, after the implementation of the new policy, the proportion of this off-site transaction has changed from 7:3 to 4:6, and consumers can handle the transaction registration procedures at the place where the vehicle is transferred, avoiding the time-consuming and laborious travel between the two places, and the transaction cost has been greatly reduced.
The domestic used car market is undergoing structural upgrading and adjustment, and there is even optimism that the transaction volume of China's used car market will stand ahead of the 20 million vehicle mark in 2022. Luo Lei, deputy secretary-general of the China Automobile Dealers Association, expects that benefiting from the favorable factors such as the continuous "loosening" of the mainland's second-hand car market restrictions, the mainland's second-hand car trading volume will exceed 19 million in 2022, and will launch an impact on 20 million vehicles.