China’s average 2-year retained value rate for hybrid and new energy used cars in October shows an increase compared to the previous month.

October brings an increase in China's average 2-year retention rate for hybrid and new energy used cars, surpassing the rate of the previous month.

【PhoneAuto News】Recently, PhoneAuto noticed that according to the “October 2023 Second-Hand Car Online Transaction Data Report,” the online transaction volume of new energy second-hand cars in the Chinese market has grown significantly in October 2023. At the same time, the average resale value of hybrid new energy cars has increased compared to the previous year. This trend indicates that as the new energy car market rapidly develops, the new energy second-hand car market is gradually emerging as a new force in the automotive consumer market.

New Energy Cars

In recent years, the number of new energy cars has grown rapidly, providing a rich source of vehicles for the new energy second-hand car market. At the same time, the rapid iteration and updates of technology in domestic brand new energy cars have solidified the influence of domestic brands in the new energy car field. The improvement of brand awareness and market influence provides strong support for the rapid development of the new energy second-hand car market.

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In the new energy second-hand car market, hybrid models are favored by consumers due to their unique advantages. Compared to pure electric new energy cars, hybrid models have certain advantages in range, operating costs, and charging convenience. This high demand for hybrid new energy cars in the second-hand car market has driven the increase in their average resale value.

Currently, with the rapid development of the new energy car market and the continuous improvement of domestic brand technology, the new energy second-hand car market is gradually rising. In the future, with further improvement of market mechanisms and increasing consumer awareness of new energy cars, the new energy second-hand car market is expected to achieve even faster development.

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