China’s used car managers’ index was 42.5% in June 2022 From China Automobile Circulation Association

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On July 1, 2022, the China Automobile Circulation Association released the latest issue of the “China used car managers’ index” (ucmi). The current ucmi results show that the used car managers’ index was 42.5% in June, below the boom and bust line, and the used car market is still in a depressed range.

The survey showed that the total market demand decreased in June, and the proportion of used car managers who thought it was “reduced” was 37.3%; The proportion of “basically flat” was 41.3%; The proportion of “increase” is 21.3%.

Due to the role of the new car purchase tax policy, the vehicle replacement rate has increased, coupled with the further expansion of the removal of restricted relocation areas, the continuous enrichment of the source of used cars will also have a certain impact on the price, causing some consumers to wait and see on the used car market in the short term, thus having a certain impact on demand.

Used car market demand in June

The survey shows that the online collection volume of used cars increased and the offline collection volume decreased in June. Among them, the proportion of used car managers who believe that online customer collection has “increased” is 30.9%; The proportion of managers who believe that offline customer collection has “decreased” is 34.5%.

In the urban sample of this survey, due to the further liberalization of the relocation restriction policy, the online passenger flow increased in June compared with may, but the offline passenger flow decreased due to seasonal reasons.

Passenger volume of used cars in June

The survey showed that the trading volume of used cars increased in June, and the proportion of “increase” was 24.0%; The proportion of “flat” is 58.0%; The proportion of “decline” is 18.0%. With the stable epidemic and the liberalization of relocation restrictions, the sales of used cars have increased compared with May.

Used car sales in June

The survey showed that the inventory volume decreased and the inventory turnover time was basically flat in June. Among them, 28.7% of managers believed that inventory was “reduced”; 56.7% believed that the inventory turnover time was “basically flat”.

With the gradual liberalization of the relocation restriction policy, the inventory pressure of used car dealers has been released, and used car dealers have been able to recover part of their working capital.

Inventory of second-hand garage in June

The survey shows that used car managers think that the business condition in June 2022 is bad, and the proportion of managers who think that the business condition is “bad” is 24.0%.

Operating conditions of used cars in June

On the whole, although the used car market has warmed up compared with may, at the same time, the restrictions on the relocation of used cars have been liberalized, and the inventory pressure of used car dealers has been further released. However, the market improvement is not obvious. Affected by policies and vehicle sources, transactions and prices fluctuated in the short term, and the business performance of used car dealers in June was poor.

Among the used car managers surveyed, 30% said that the capital circulation increased by 10-30% in June 2022; At the same time, 50% of the managers expect that the capital circulation in July 2022 is basically the same as that in June.

Referring to the expectation for July, the used car manager said: with the gradual stabilization of the epidemic and the liberalization of the relocation restriction policy for used cars, used car dealers will usher in new opportunities, but in the short term, it will also bring consumers’ wait-and-see, and the impact on used car transactions and prices will continue. After entering July, or affected by the uncertainty of climate and epidemic situation, it will be difficult to improve customer collection, so we are not optimistic about the operation in July.

Used car managers are cautious about the prediction of the used car market in July 2022, with a confidence index of 44.1%, below the boom and bust line. More reading: China Automobile Circulation Association: China used car manager index was 39.6% in April 2022. China Automobile Circulation Association: China used car manager index was 52.5% in November 2019. China Automobile Circulation Association: China used car manager index was 49.3% in November 2020. China Automobile Circulation Association: China used car manager index was 52.7% in September 2020. China Automobile Circulation Association: China used car manager index in July 2020 The index is 40.7% China Automobile Circulation Association: China used car manager index in March 2020 is 46.6% China Automobile Circulation Association: China used car manager index in May 2021 is 48.1% China Automobile Circulation Association: China used car manager index in March 2019 is 47.7% China Automobile Circulation Association: China used car manager index in February 2022 is 39.8% China Automobile Circulation Association: China used car manager index in August 2021 The number is 49.8%. China Automobile Circulation Association: a brief analysis of the used car market in March 2022. China Automobile Circulation Association: China used car manager index in December 2019 was 48.6%. China Automobile Circulation Association: China used car manager index in May 2022 was 37.7%. China Automobile Circulation Association: China used car manager index in November 2021 was 46.8%. China Automobile Circulation Association: China used car manager index in October 2021 was 50.1%

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