March China Car Residual Value Study Report: Small MPVs Face Decline in Resale Value due to Electrification Substitution.

On April 1st, the China Automobile Dealers Association and Jingzhengu jointly released the "March 2025 China Automobile Residual Value Research Report." The report stated that the rise in used car prices is a favorable factor for the first half of the year, and car dealers should seize the market situation to avoid a decrease in the circulation speed. Different types of vehicles that experienced a decline in residual value this month are facing various challenges. Among them, the market size of compact sedans is shrinking, the unit price of medium-sized SUVs is too high, and small MPVs are facing electrification substitution, all of which are unfavorable for price stability. Luxury brand used cars are mainly fuel-powered, and there is still a large audience that recognizes the brand value. Due to the inevitable adjustment of sales targets for new cars by various manufacturers, the current terminal pressure has temporarily eased. Tesla's advanced driver assistance features are close to fruition, leading existing car owners to delay their selling plans. After the decline in Land Rover's residual value this month, it is more in line with the brand's long-term performance in the domestic market. By focusing on residual value data, we can understand the past market environment, industry trends, the relationship between enterprise development and residual value, and also reflect the overall strength of the brand in terms of product power, awareness, reputation, etc. The residual value price data on this list is calculated based on the resale price of used cars in good condition (B2C). The following are the rankings based on the data: Policy direction Stimulate consumption special action plan The release of the "Action Plan" at a high level has already indicated the significant importance of "consumption," making it a top priority in economic work and a solution to maintain stability in all aspects. In addition to the already implemented "old for new" policy, extending the automobile consumption chain is a relatively novel approach directed at multiple pain points in the used car market. The original text proposes to nurture and expand the main operators of the second-hand car market and continue to implement facilitation measures such as "reverse invoicing" for second-hand car sales, remote trading registration, etc. Strengthening information sharing in the automobile sector, supporting the development of third-party platforms for querying second-hand car information, and promoting safe and convenient second-hand car transactions. Hot event Old operating trucks being scrapped and renewed This detailed regulation was jointly issued by the Ministry of Transportation, the National Development and Reform Commission, the Ministry of Public Security, the Ministry of Finance, and the Ministry of Commerce. Commercial vehicles are also a key focus of the country's "two new" policy, and this time, the financial subsidies funds are shared between the central and local governments, with an increase in intensity. Users and owners of old operating trucks are sensitive to prices, and the effects and elasticity of subsidies are expected to be good. This update will also have an impact on the promotion of new energy trucks. Change in online car listings The volume of car listings has significantly increased The hot sales of new cars are also one of the reasons for the active second-hand market. Extending the scope of the "old for new" policy is stimulating consumer enthusiasm throughout the demand side, with a noticeable increase in spring car demand. Some regions are testing subsidies for second-hand car transactions, which currently have a very small impact on the overall market situation. Residual value rates at all levels Residual value rates at all levels are generally on the rise Luxury brand residual value rates Tesla's residual value rate increases Luxury brand used cars are mainly fuel-powered, and there is still a large audience that recognizes the brand value. Due to the inevitable adjustment of sales targets for new cars by various manufacturers, the current terminal pressure has temporarily eased. Tesla's advanced driver assistance features are close to fruition, leading existing car owners to delay their selling plans. After the decline in Land Rover's residual value this month, it is more in line with the brand's long-term performance in the domestic market. Residual value rates of mainstream international brands Residual value rates of joint venture brands have significantly improved The "one-price" initiative launched by brands such as Volkswagen and Buick has been imitated by many brands, especially joint venture brands, which are mostly implementing similar schemes combined with new car generations. The prices of second-hand cars usually include risk factors, and when a fixed one-price becomes a consistent reference factor, the prices of second-hand cars can be appropriately increased. The ranking of residual value rates for American and Korean brands has changed significantly, clearly influenced by recent international conditions. Residual value rates of domestic brands Residual value rate changes for domestic brands In terms of domestic brands, the residual value rates show a slight downward trend. GAC Motor continues to retain the highest residual value. Many domestic brands are leveraging the new energy track to overtake their competition, surpassing joint venture counterparts in terms of sales volume and ranking, and opening up a "acceleration" mode for brand development. Popular residual value ranking list Joint venture Luxury Mid-sized cars Residual value ranking The Cadillac CT5 stands out in the luxury mid-sized car market due to its excellent luxury configuration and powerful performance, winning the favor of many consumers. The main competitors of the Cadillac CT5 undoubtedly include the 3 Series, C-Class, and A4L of BBA, but in terms of their emphasized sportiness, the CT5 is undoubtedly purer, ranking third in the same category, with Mercedes-Benz C-Class and BMW 3 Series ranking first and second respectively. Popular residual value ranking list 150,000-200,000 yuan Domestic Pure electric Mid-sized cars residual value ranking SAIC Roewe has officially introduced the policy of "zero spontaneous combustion and three electric lifetime quality assurance" addressing consumers' concerns regarding new energy and battery safety, regardless of the first owner, year, or mileage, providing a lifetime of quality assurance and pledging to "pay one if it burns". In the competitive new energy vehicle market, the Roewe D7 ranks first in its class due to its excellent value, advanced technology, and rich configuration. Popular residual value ranking list Joint venture Large SUV residual value ranking Among the large SUVs in the market, only the SAIC Volkswagen Touareg meets the distinctive label of "big space" and "big size." This label has been recognized by the vast majority of Touareg owners, and precise handling and high configuration are also major advantages of this car. The reputation that Volkswagen has built over the years is also the best guarantee for the Touaregs residual value, ranking first in its class. Popular residual value ranking list New energy Electric Large SUV Residual value ranking As the flagship SUV of Hongmeng Zhihang, the new car has achieved outstanding results with a cumulative delivery of over 100,000 units since its launch. With intelligent cockpit and advanced technology of Huawei Qinxun smart driving, the Wenjie M9 ranks first in its class. Popular residual value ranking list Domestic Plug-in hybrid MPV Residual value ranking In the domestic plug-in hybrid MPV market, GAC Motor, with its leading plug-in hybrid technology, proven reliable quality, and comprehensive advantages in luxurious space and intelligent configuration, strikes a perfect balance between family travel and business needs. With GAC Motor's years of technological accumulation and brand reputation, the GAC E8 new energy and GAC E9 secure the top two spots in their class. Changes in the new energy car market Product access, recalls, andSoftware online upgrade managementDuring the software upgrade process, the primary responsibility of the enterprise still needs to be emphasized, and the upgraded products must still meet various national standards requirements. The attention of regulators has been drawn to cases where the driving assistance system fails or the vehicle is involved in a collision. During the "315" period, the Market Supervision Administration also issued a "Car Recall User Guide" to guide consumers in protecting their rights. In the case of the recovery of the March car market, competition in the new energy vehicle sector has become more intense, especially with hybrid cars being greatly impacted by price wars. With BYD Company Limited announcing the "standard configuration" of intelligent driving, the disadvantages of older second-hand cars are very apparent, as the differences in features cannot be compensated for by a "good condition" alone. Hybrid models from luxury brands like Mercedes-Benz and BMW are popular in the second-hand market, but with the upgrade of charging infrastructure and manufacturers actively stopping production of hybrids in favor of developing pure electric vehicles, the value of older models is gradually decreasing. Major pure electric vehicle depreciation rates In the March 2025 list of major pure electric vehicles, the top three pure electric models are Wanjie M9, Ideal MEGA, and Model X; this month, several new models have made it to the list, with a significant proportion of domestic brands in the top 15 list of pure electric models. Major plug-in hybrid vehicle depreciation rates In this month's plug-in hybrid list, the top spot is taken by the Tank 700 new energy vehicle, and domestic brands are still showing strong momentum, with a majority of domestic brands making it to the list; after three years of use, domestic brands still dominate and have a significant market share. The penetration rate of domestic new energy vehicles has exceeded expectations, and domestic brands still have a significant advantage.