China Used Car Transactions Climb to 1.79 Million Units in Mar After Seasonal Slowdown

Takeaways by AI

China’s used car transactions hit 1.7918 million in March, up 37.7% MoM and 2.1% YoY.
Q1 used-car volume rose 4.66% YoY to 4.822 million units, with RMB 312.9 billion in value.
Vehicles 3–6 years dominated at 43.13% while cars under three years climbed to 29.88%.

China’s used car market rebounded in March as post-holiday recovery and pent-up demand drove a noticeable pickup in activity, according to data released by the China Automobile Dealers Association on April 14.

Total transactions reached 1.7918 million units during the month, up 37.73% month-on-month and 2.11% year-on-year, with transaction value totaling RMB 117.868 billion ($17.09 billion).

Bar chart comparing transaction volumes in March 2026 (179.18) and February 2026 (130.10), with an upward arrow indicating increase. — China’s used car transactions in Feb and Mar 2026

For the first quarter, the market maintained moderate growth. From January to March, cumulative transactions reached 4.822 million units, up 4.66% YoY, an increase of 214,600 units compared with the same period last year. Total transaction value stood at RMB 312.882 billion ($45.37 billion).

In March, as the Chinese New Year holiday ended, used car dealers resumed full operations and consumer demand continued to recover, lifting the market from February’s low base.

Overall, the market posted broad-based month-on-month growth, with more mixed year-on-year trends.

By vehicle type, passenger cars remained dominant. Basic passenger car transactions reached 968,400 units, up 38% MoM but down 3.45% YoY.

Bar chart comparing passenger vehicle transactions, displaying basic passenger cars, MPVs, SUVs, and other types. — China’s used passenger car transactions in Mar 2026

SUV transactions totaled 236,300 units, rising 35.43% MoM and 1.36% YoY, while MPVs recorded stronger growth, with 127,300 units traded, up 38.49% MoM and 12.06% YoY.

Cross-type passenger vehicles reached 43,600 units, up 37.52% MoM but down 3.22% YoY.

Commercial vehicles continued to perform steadily, with buses and trucks posting YoY growth of 8.76% and 6.64%, respectively, reflecting resilient demand for production and operational vehicles.

The age structure of vehicles showed divergence. Cars aged 3–6 years accounted for the largest share at 43.13%, though this was down 2.57 percentage points year-on-year. Meanwhile, the share of vehicles under three years old rose to 29.88%.

Pie charts comparing usage statistics for March 2026 and February 2026, showing distribution across different time periods: 3 years, 3-6 years, 7-10 years, and over 10 years. — China’s used car by age structures in Feb and Mar 2026

Vehicles aged 7–10 years accounted for 16.28%, while those over 10 years made up 10.13%, indicating a market characterized by both rigid demand and a parallel increase in supply of newer and older vehicles.

Regionally, all six major regions recorded strong MoM growth. Northern markets stood out, with North China and Northeast China both posting YoY growth exceeding 40%.

A bar and line graph comparing data for regions in 2026.3 and 2026.2, showing values for each region alongside a line indicating percentage growth or change. — China’s used car by regional distributions in Feb and Mar 2026

Beijing and Shanghai remained key circulation hubs, continuing to drive regional market activity.

Cross-regional circulation remained active. The transfer rate of used vehicles reached 32.08% in March, up 1.41 percentage points MoM and 2.57 percentage points YoY.

Total transfers reached 574,900 units, rising 44.04% MoM and 10.99% YoY.

Overall, the market maintained both month-on-month and year-on-year growth during its seasonal recovery in March, with accelerating adjustments in vehicle mix and age structure, alongside improved efficiency in cross-regional circulation.