Source of this article: Times Finance Author: Yang Delin
Since the beginning of this year, in the face of the rising price of new energy vehicles, as well as the phenomenon of the industry's "lack of core and less electricity" brought about by the elongation of the new car pick-up cycle, some consumers who urgently need to buy a car have turned their attention to the second-hand new energy vehicle market. According to the "February 2022 Used Car Market Sales Analysis Report" released by DasouChe Zhiyun, in the first two months of this year, the cumulative trading volume of used new energy vehicles reached 47,000 units.
However, in the actual transaction of the terminal market, the popularity of second-hand new energy vehicles of different brands is different. When Visiting the Second-hand Car Trading Market in Huaxiang, Beijing, Times Finance found that the merchants who sell new energy used cars are basically only Tesla and BYD in front of their doors, and the hot-selling models of these brands are even "in short supply". Liu Yong, a second-hand car dealer, said, "The Model 3 that was just received received received on the same day received a deposit from the customer and immediately sold it." ”
However, most brands of second-hand new energy vehicles such as SAIC Roewe and BAIC BJEV are rarely favored, and even one cannot be sold in a year. Some consumers Zhao Jie told Times Finance that the cost of replacing batteries for new energy vehicles is too high, but some brand of second-hand car owners cannot enjoy the rights and interests of the first owner such as free lifetime battery warranty, "This model is not too valuable, not cost-effective." Another industry insider told Times Finance that the low retention rate is also one of the factors restricting the development of the second-hand new energy vehicle market.
Tesla parked in front of the main entrance of the merchant Image source / Times Finance Photo "Second-hand Tesla monthly sales of 2 units, Roewe New Energy put a year no one asked"
Entering 2022, some consumers have set their sights on the new energy used car market, and the demand for some popular models has increased.
On April 6, when Times Finance visited the second-hand trading market in Huaxiang, Beijing, it found that only some popular new energy models were parked in the parking lot of the second-hand car trading market. For example, Tesla Model 3, Model Y, BYD Qin New Energy, Han New Energy and other hot models, and one of the Tesla Model 3 was also told by the owner of the car dealership that it has been booked.
In the process of talking with Liu Yong, the owner of the second-hand car dealership, it was learned that after the Spring Festival, more customers came to the second-hand market to inquire about the price of popular models, and the circulation cycle of models was shortened, and some popular models could even be "sold on the same day". According to him, the average daily passenger flow in the store has increased by about 30% compared with the same period last year, and the average circulation cycle of vehicles in the store has dropped from the previous 30 days to 20 days. "These customers are more likely to see Tesla, and some good-looking cars can find buyers almost in a day." Like last month I sold 2 Teslas, and the Model 3 that I just received, I also received a deposit from the customer on the same day and sold it. ”
In addition, Liu Yong also said that there is currently a shortage of supply in popular models such as Tesla and BYD in the second-hand car market. According to Liu Yong's description, because of the large depreciation of electric vehicles, they did not dare to collect electric vehicles, and in most cases, after customers booked, they would go to find the source of the car. "Now customers with purchase intentions are rushing to the popular models, but the popular models have only been listed in the past two years, and most of the replacement cycle of new car owners has not yet arrived, so the supply of goods in their hands is limited."
In the parking lot is a pre-booked used Tesla Model 3 photo source/Time Finance Photo
From the perspective of time nodes, the growth of popular models of second-hand new energy vehicles has been affected by the price increase of new cars and the longer cycle of car lifting.
It is reported that at the beginning of 2022, the national new energy subsidy policy was officially implemented, coupled with the continuous rise in global raw material prices, the price of new energy vehicles rose collectively. In March alone, Tesla raised the price of some domestic Model 3 and Model Y models for three consecutive times, and the price of its domestic Model Y high-performance version increased by 30,000 yuan in just a few days, and the current price of the car has reached 417,900 yuan. BYD has also implemented two price adjustments this year, raising 1,000 yuan to 7,000 yuan and 3,000 yuan to 6,000 yuan, and the current high-end version of Qin PLUS new energy is priced at 175,800 yuan.
In addition to the increase in the price of the model, due to the lack of core and other factors, the pick-up cycle of some popular models has also been repeatedly extended. Times Finance has learned that at present, the pick-up cycle of Tesla Model 3 and Model Y has reached 20-24 weeks, and the pick-up cycle of popular new energy models such as BYD Qin and Song is 4 months.
Mr. Li, who inquired about the price in the Huaxiang second-hand car trading market, said that because the price of Tesla's new car is rising sharply, but the price fluctuation of second-hand cars is not so large, it is very cost-effective. "Tesla rose several times last year, and this year it continues to rise, and used cars can save a lot of money."
According to the quotation of a second-hand car online trading platform, many 2020 Tesla Model 3 standard endurance rear-drive upgraded models with a kilometer number of less than 50,000 kilometers are quoted in the quotation range of 210,000-230,000 yuan. According to Tesla's official website in China, the new Model 3 rear-wheel drive version of the model is sold for 279,900 yuan.
At the same time, the long pick-up cycle has also become a major factor for Mr. Li to consider used cars. "I originally wanted to buy a Model 3, but now the sales tell me that the pick-up cycle is almost 6 months, so I want to try my luck in the used car market."
However, in addition to some popular models, most other second-hand new energy vehicles are still rarely popular. In the few hours of the Huaxiang trading market, Times Finance did not see any customers asking about BAIC BJEV, Roewe New Energy and other models in the corner.
Roewe new energy models placed in the corner no one asked Photo source/Times Finance Photo
In this regard, the owner of the car dealership Wang Zi believes that in the market, in addition to seizing a new energy index or opening an online car, consumers who are willing to buy new energy second-hand cars still account for a minority, "Now the 'cost performance' of popular cars is high, and everyone comes to buy." If you can't sell an electric car for a few months, you will lose money in your hands. The aforementioned dealer Liu Yong said that a Roewe MARVEL X he had received before had not been consulted for nearly a year.
The retention rate needs to be improved
At present, due to factors such as high battery loss cost and no perfect evaluation system, although the retention rate of new energy second-hand vehicles has increased compared with before, it is still at a low level compared with second-hand fuel vehicles.
According to the latest data from the China Automobile Dealers Association, in March 2022, under the condition of 3 years of vehicle age, the retention rate of plug-in hybrid used cars was 54.9%, and the retention rate of pure electric used cars was 48.4%. In contrast, the average retention rate of used fuel vehicles in one year is 85.6%, and the average retention rate in three years is 72.6%.
It is reported that the battery as the core component of new energy vehicles, accounting for about 40% of the cost of the vehicle, and for second-hand new energy vehicles, many car companies give 60,000-100,000 km of warranty, or three years of free battery replacement and other preferential policies are only for the first owner, the battery life expires need to spend tens of thousands of pieces to replace the battery, further affecting the improvement of its retention rate.
Consumer Jiang Bin told Times Finance that if there is a problem with the power battery of the second-hand new energy vehicle bought, it will take about 50,000 or 60,000 yuan to change the battery at his own expense. "After looking at it several times, I found that the second-hand new energy vehicle power batteries on sale are all at a large loss, either the attenuation is too serious, or the charge is not enough, and I need to pay for the battery at my own expense, which is not cost-effective."
In addition, for second-hand new energy vehicles, there is still a lack of basis that can be used to accurately judge the value of the vehicle, and most second-hand car dealers can only make a simple assessment based on the service life of the car, the mileage and the basic condition of the car. Luo Lei, deputy secretary-general of the China Automobile Dealers Association, has previously said publicly that from the perspective of consumers, if the appraisal and evaluation is unprofessional, it will make them more worried, which may restrict the transaction of second-hand new energy vehicles to a certain extent.
In order to better improve the retention rate of new energy used cars, new energy OEMs have issued value preservation plans for new energy models in the past two years, and relevant agencies have also formulated a series of guidance specifications.
It is understood that on July 1, 2021, the "Technical Specifications for the Identification and Evaluation of Used Pure Electric Passenger Vehicles" issued by the China Automobile Circulation Association was officially implemented, which clarified the identification and evaluation process and methods of second-hand pure electric passenger cars, and gave scientific guidance for the identification and evaluation of new energy passenger car batteries and vehicles.
Many new energy vehicle companies have entered the new energy used car market. At present, many new energy vehicle brands, including Weilai, WM, Xiaopeng, Euler, Geometry and so on, have successively launched the value-preserving repurchase policy of new energy models. For example, WEILAI launched nio Certified's used car business, and WM launched a buyback that guarantees users naked cars up to 40% off for two years.
The implementation of the above measures has alleviated consumer concerns to a certain extent and promoted the trading of second-hand new energy vehicles. According to autohome statistics, the market share of new energy used cars jumped from 1.6% in 2019 to 4.0% in 2021; in 2021, the intended users increased by 43.9% year-on-year.
According to other data, by the end of 2021, the number of new energy vehicles has reached 7.84 million. In the industry's view, with the increasing number of new energy vehicle markets, ensuring the smooth and orderly second-hand car market is of great significance to the healthy development of the industry. However, the improvement of the retention rate of new energy used cars is not an easy task, and there is still a long way to go in the future.
(At the request of the interviewer, Liu Yong, Jiang Bin, and Wang Zi are pseudonyms)