Used cars are becoming the first car for many young people

More and more young people are buying cars based on their actual needs. A previous used car consumption insight report released by a related automotive platform shows that young people in economically developed regions are the main group interested in used cars, with over 30% of users in first-tier cities frequently following used car content.

A 2021 Tesla Model 3 Standard Range Rear-Wheel Drive version with approximately 46,000 kilometers on the odometer was offered at a flash sale price of only 98,000 yuan, equivalent to a 36% discount compared to the then-new car price of 267,700 yuan (including tax).

A 2022 Lexus UX EV with only 30,000 kilometers on the odometer was offered for 93,800 yuan on Dongchedi, a 25% discount compared to its original new car price of 363,000 yuan (including tax).

A 2022 Volkswagen Passat 330TSI with only 5,600 kilometers on the odometer was priced as low as 107,900 yuan during Dongchedi's promotional event, a 50% discount compared to its original new car price of 225,500 yuan (including tax).

Such vehicles are readily available on the Yitongda automotive platform.

For relatively expensive new cars, consumers can easily find similar models with significant discounts in the used car market. Especially in recent years, with the decline in car resale value, the cost-effectiveness of used cars has been gradually improving.

According to the "China Automobile Residual Value Research Report for October 2025" released by the China Automobile Dealers Association, the residual value of all vehicle classes after three years declined overall in October compared to September. Among luxury brands, even Porsche, known for its high residual value, only achieved a 66.2% residual value, while Infiniti's was as low as 36.5%. Among joint venture brands, Honda had the highest residual value at 55.6%, while Chevrolet had the lowest at only 41.2%. Among domestic brands, Trumpchi had the highest residual value at 55.8%, while NIO had the lowest at only 38.4%.

This year, my country's used car market has seen steady growth. The latest data from the China Automobile Dealers Association shows that from January to October 2025, the cumulative transaction volume of used cars reached 16.4907 million units, a year-on-year increase of 3.53%, representing an increase of 562,400 units compared to the same period last year, with a cumulative transaction value of 1.057181 trillion yuan.

II. The Rise of the Used New Energy Vehicle Market

As an important part of the used car market, the proportion of used new energy vehicles has been gradually increasing in recent years. Data shows that new energy used cars are emerging as a new force in the market in 2025, with a cumulative transaction volume of 978,000 vehicles from January to August this year, a year-on-year increase of 41.8%, far exceeding the growth rate of the overall market.

A previous used car consumption insight report released by a related automotive platform surveyed users' willingness to purchase used new energy vehicles. Data shows that users' average acceptance of used new energy vehicles exceeds 40%, with even higher acceptance rates among new energy vehicle owners and those who have previously purchased used cars. High cost-effectiveness and availability are the main reasons attracting users. The report also points out that as users' preferences for used car consumption gradually increase, high-end used car transactions are rising; specifically, in the used new energy vehicle sector, users' purchase budgets are concentrated between 50,000 and 150,000 yuan, twice the average budget for used gasoline vehicles.

Within the used new energy vehicle market, Tesla is a unique player.

A new energy used car dealer stated that any dealer doing new energy used car business cannot avoid Tesla because Tesla has a large number of used cars on the road, a high residual value, and relatively stable prices. Because Tesla doesn't frequently undergo major exterior redesigns or generational changes, new car prices are relatively stable, and used car prices also tend to remain stable. Furthermore, there's high demand for Tesla used cars, leading to relatively fast vehicle turnover.

III. Online Shopping for Used Cars Becomes a New Trend

Online shopping is commonplace among young people for fast-moving consumer goods, and this shopping habit has been carried over to the used car industry. Data from relevant automotive platforms shows that approximately 40% of used car transactions in the past three months were completed through "nationwide purchase" platforms.