China Automobile Dealers Association It is expected that the transaction volume of the used car market in July will reach 157 million vehicles

China Automobile Dealers Association predicts used car market transaction volume in July to reach 157 million vehicles

【PhoneAuto News】On July 27th, the China Automobile Distribution Association published an article analyzing the domestic used car market in July. Due to the arrival of the summer vacation in July, the demand for travel has increased, injecting new purchasing power into the market. However, July and August are traditionally the off-season, with overall weak consumer demand. Based on the changes in transaction volume in the previous few weeks, it is estimated that the transaction volume in July should be around 1.57 million vehicles, a 9% increase compared to the same period last year.

According to statistics from the organization, the average daily transaction volume in the third week of July in the used car market was 58,800 vehicles, an increase of 0.34% compared to the previous week, basically unchanged. The market has entered a stable operating state. Compared with the third week of June, there was a 7.9% increase. Looking back at the weekly changes since July, the average daily transaction volume in the first week of used car market was 59,900 vehicles, a decrease of 1.70% compared to the previous week. Although the market fell slightly this week, it is still 3 percentage points higher than the same period in June due to the impact of the market’s end-of-month surge. The average daily transaction volume in the second week of the used car market was 58,600 vehicles, a further decrease of 2.17%, and the transaction scale remained basically unchanged this week. The market trading volume in each week of July is relatively average, with little change. According to the same caliber calculation, a total of 1.18 million used cars were traded from July 1st to 23rd, a 3.5% increase compared to the same period in June. It is estimated that the transaction volume in July should be around 1.57 million vehicles, a 9% increase compared to the same period last year.

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Looking at the trading situation in various regions, the Northeast and Southwest regions showed significant growth this week, while other regions experienced varying degrees of decline. As most regions in the country are experiencing high temperatures, the climate in the Northeast region is pleasant at this time, and the market performed well this week. The average daily transaction volume was 2,000 vehicles, an increase of 11.9% compared to the previous week. Dalian remains the main driving force for growth in the three northeastern provinces, with a 20% increase compared to the previous week. Changchun also grew by 18% this week. It is expected that the last week of July will still show good performance. The second region of growth is the Southwest region, with an average daily transaction volume of 12,600 vehicles this week, an increase of 6.44% compared to the previous week. After a brief adjustment last week, the market has returned to the active range. This week, both Guiyang and Kunming saw increases of over 15%, while the Chengdu and Chongqing markets remained stable.

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