One second-hand fuel-powered car is being auctioned, while 1000 new energy vehicles are being sold in a bundle.

According to Yicai, in recent years, the policy of replacing old cars with new ones and scrapping policies has driven domestic new car sales growth by more than 11%, and has also led to a surge in the number of second-hand cars entering the market. By the first half of 2025, the cumulative number of second-hand car transactions in China reached 9.57 million, with a year-on-year growth of about 2%, and the total transaction amount exceeded 600 billion yuan. In order to further digest the inventory of second-hand cars, auctions are increasingly being used in the market. "Currently, traditional fuel cars are often auctioned off individually, while new energy vehicles are auctioned off in packages, with a package containing tens, twenties, thirties, or even hundreds of cars, and the cars in the same package are roughly the same in terms of age and model." Han Tao, Vice Chairman of the China Auction Industry Association and Director of the Vehicle Committee, said that the reason for selling new energy vehicles in packages is that in recent years, the largest number of new energy vehicles owned by mobility platforms and the fastest rate of renewal are seen in new energy vehicles. At the time of the renewal of these new energy vehicles, a large number of new energy second-hand cars enter the circulation market through auctions. The "2024 China Motor Vehicle Auction Market Statistical Yearbook" shows that in 2024, a total of over 1.11 million traditional fuel cars were auctioned off, accounting for over 90% of the total market share, indicating that traditional fuel cars still dominate the motor vehicle auction market. Additionally, the market share of plug-in hybrid vehicles in the auction market has shown a noticeable increase. Furthermore, the volume of accident vehicles such as water-damaged cars has been steadily increasing, with a compound annual growth rate of 70% from 2019 to 2024 for auctions of accident electric vehicles. Wang Yufeng, Deputy Secretary-General of the Vehicle Committee of the China Auction Industry Association, conservatively estimates that the rate of growth for the auction of electric vehicle accident cars will exceed 50% in the next 3 years.