China has seen a burst in trade volume of used new energy vehicles (NEVs) in the first nine month of this year, industrial data showed.
In a report released by the China Automobile Dealers Association (CADA) in early November, a total of 789,800 used new energy cars were traded nationwide in the first nine months of the year, up 54 percent year on year.
In a used vehicle trading market in Beijing, dealers have displayed used NEVs together at prominent positions for the trading craze.
"At present, our NEVs account for about 10 percent of our total inventory. The sales volume of used NEVs is increasing year by year. Almost all the customers coming in will ask if there are any NEVs," said used car dealer Lyu Shuai.
Most of the customers are under 40 years old, and they are attracted by the excellent performance, sense of technology and environmental protection attributes of new energy vehicles. "NEVs are more intelligent and can better meet the needs of young people. The configuration and practicality are better, and the maintenance cost is not that high," said a resident surnamed Zhang.
Dealers said that the rapid iteration of NEV technologies and the stimulation of the trade-in policies have made individual car owners who bought new energy vehicles early consider selling or replacing their old cars with new ones with higher performance, longer battery life and more intelligent functions, which has also brought more used cars into the market.
Data shows that in September this year, a total of 100,500 used new energy cars were traded nationwide, an increase of 8.1 percent month on month and 32.5 percent year on year.
Meanwhile, the demand for NEV inspection and evaluation also increases sharply, and the test usually focus on three aspects of physical damage, the battery power release capacity, and battery abnormal attenuation, said industrial insiders.
"The demands for NEV testing have skyrocketed. In the third quarter, the NEV test volume increased by nearly 130 percent year on year," said Xu Hongtao, general manager of testing department of Chaboshi, a domestic vehicle appraisal evaluation company.
China's used NEV trade surges 54 pct in first nine month
