In January–September 2024, 789,800 used new-energy vehicles were sold in China, up 54% year on year.

According to the China Automobile Dealers Association (CADA), used new energy vehicles (NEVs) became the fastest-growing segment of China’s used car market in 2024. From January through September of this year, a total of 789,800 used NEVs were sold nationwide, a 54% increase from the previous year. The volume of used NEV transactions is expected to exceed one million units for the first time by the end of 2024.

“The “Report on Online Used Car Transaction Data for the Third Quarter of 2024,” published by Tiantian Paiche, a Chinese online used-car trading platform designed to connect individual buyers with dealers, showed that in the third quarter, 68.2% of used NEVs on the platform were three years old or younger, and the average age of the vehicles involved in transactions was 3.8 years. The average transaction price for used NEVs was 78,200 yuan ($10,900), while the average transaction price for used gasoline-powered cars during the same period was 54,300 yuan ($7,600), and the average transaction price for used cars was 57,100 yuan ($8,000).


The Chinese used-car market plans to sell 20 million used cars this year. From January through September 2024, the total volume of used car transactions reached 14.2168 million units, an increase of 5.37% higher than during the same period last year—an increase of 725,000 units—and the total transaction value reached 939.232 billion yuan (130 billion U.S. dollars). Specifically, the total volume of used passenger car transactions reached 11.3714 million units, a 5.06% increase compared to the same period last year. Among these, the volume of SUV transactions totaled 1.9097 million units, a 10.26% increase, while minivan transactions totaled 901,900 units, a 9.20% increase compared to the same period last year.

Furthermore, looking at September, the largest share was accounted for by transactions involving used cars that were three to six years old, totaling 48.64%, which is 1.12% higher than the previous month and 2.65% higher than the previous year. Vehicles less than three years old accounted for 24.99%, which is 1.07% less than the previous month and 3.63% less than the previous year. Models with a service life of seven to ten years accounted for 17.42%, which is 0.49% less than the previous month and 0.89% less than the previous year. Finally, models with a service life of more than 10 years accounted for 8.95%, which is 0.44% more than the previous month and 1.87% more than the previous year.