Recently, the China Automobile Dealers Association released the "China Automobile Value Preservation Rate Report in February 2025". The "Report" shows that medium and large models have a higher value retention rate. Lu Guangzhi, deputy director of the used car information department of the China Automobile Dealers Association, said that this year the second-hand car market will also face the dual challenges of new car price wars and industry changes. The continued adjustment of new car market prices will also have a certain impact on the second-hand car market. At present, the average transaction price of second-hand cars has dropped compared with the same period, and the market price is still in a downward channel.

The current situation is that the falling prices of new cars have squeezed out the living space of the second-hand car market. Extremely low down payments have further lowered the threshold for purchasing new cars, and consumer demand for second-hand cars has dropped significantly.

MPVs, medium and large cars and medium and large SUVs have higher value retention rates, which are 59%, 55.8% and 55.4% respectively. In contrast, compact cars, small SUVs, mid-sized SUVs and other models have lower value retention rates, all below 51%. Among them, compact cars have the lowest value retention rate, only 48.8%.

It can be seen from the decline in Porsche's value retention rate that consumers' main demand point is not in driving control. Such products have been greatly impacted by electric vehicles.

Specifically, the value retention rate of luxury brands has generally rebounded slightly, and this is due to the fact that some luxury brands have experienced multiple price cuts in recent years. From the second-hand market, the price drop of used cars is less than the drop of the guide price.

Regarding traditional fuel vehicles, the value retention rates of Honda and Toyota were 57.3% and 56.3% respectively, up 0.7% and 1.2% respectively from the previous month. They are still very stable, which shows that Chinese people still recognize Japanese brands.

However, the overall value retention rate of independent brands has declined. Among them, the Wuling brand's value retention rate dropped the most, from 51.4% in January to 46.1% in February, while the value retention rates of other domestic electric vehicles are still very serious.

The China Automobile Dealers Association analyzed that the value retention rate of independent brands has shown a downward trend, which is closely related to the market performance of automobile brand power, product strength, quality and other aspects. The above factors will be indirectly reflected in the value retention rate, which requires independent brands to pay attention to brand building.

In February, the value retention rates of plug-in hybrid models and pure electric models were 47% and 45.2% respectively. Among them, plug-in hybrid models remain stable, and the value retention rate is mainly supported by high-end models of independent brands.