China Automobile Dealers Association: The used car managers' index in October was 45.7%, down 2.1 percentage points year on year, up 1.8 percentage points month on month

The Zhitong Finance App learned that on November 2, the China Automobile Dealers Association released a new edition of the “China Used Car Managers Index” (UCMI). According to the current UCMI survey, the used car managers' index for October was 45.7%, down 2.1 percentage points from the previous year, and up 1.8 percentage points from the previous month. Although the index was up from the previous month, the market recovery was weak.

Used Car Managers Index for October

Judging from the trend of the used car managers' index, the used car managers' index remained below the boom and bust line from January to October 2026. The overall operating characteristics of fluctuation, restoration, and slight recovery continued. The industry's sentiment was still in a sluggish range, and the operating status of the industry under pressure on profits did not change.

According to the survey, demand in the used car market was basically flat in October, with 82.3% indicating “flat” market demand.

Judging from the managers' feedback, the National Day holiday only brought about a short-term increase in customer traffic. After the holiday, terminal to store volume and transaction rates declined rapidly, and there was no continuous increase in demand throughout the month.

Used car market demand in October

According to the survey, the volume of transactions in the used car market remained flat in October, with 83.3% of managers believing that the transaction volume was “flat”; the increase was slightly higher than last month; as offline passenger traffic increased during the National Day holiday period, demand for personal transportation, immediate entry, and car purchases from abroad was released, driving some transactions.

Used car sales volume in October

According to the survey, the used car purchase price was basically the same as the sales price in October. Among them, the proportion of used car managers who thought the purchase price was “flat” was 90.8%; the proportion of used car managers who thought the sales price was “flat” was 86.9%.

In October, new car prices stabilized in stages, and used car supply and demand entered a balanced range. Combined with transparent industry information and increased competition in cross-regional circulation, the sales price gap continued to narrow; the buying side was constrained by peer bidding, and price stability was stronger. The retail side was affected by end customer bargaining, and the price fluctuated slightly.

Used car trading prices in October

According to the survey, used car companies' inventory volume and inventory turnaround time increased in October. Among them, the proportion of managers who think that inventory volume has “increased” is 10.3%; the ratio of managers who think that inventory turnaround time has “increased” is 19.1%;

After the concentrated release of demand during the peak season in early October, the popularity of car purchases at terminals declined, and the speed of car source digestion slowed; the compounding price difference narrowed, car merchants were not willing to cut prices and clear the inventory, inventory turnover pressure increased markedly, inventory size increased slightly, and turnover efficiency weakened.

Used car inventory status in October

According to research data, in October, 81.6% of used car managers believed that their business conditions were at a “normal” level, and their business conditions were further improved;

Among the used car managers surveyed, 70% believed that working capital had dropped by more than 10%, while 30% of managers believed that the capital turnover in November was basically the same as in October.

Used car business conditions in October

Overall, the used car managers' index continued its weak recovery trend in October, and industry sentiment was still below the boom and bust line. The National Day holiday led to a slight recovery in passenger traffic and turnover, but did not usher in explosive growth; market prices showed a pattern of differentiation, sales prices fluctuated narrowly, structural price increases for popular models, depreciation pressure on old fuel vehicles continued, and the industry as a whole maintained a thin profit turnover.

In response to subsequent market trends, the interviewed used car managers predicted that the market is likely to continue to operate at a weak pace in November, making it difficult for the demand side to be significantly boosted. The market expectations index is 45.5%, below the boom and dry line. Most managers judge that demand will be basically flat next month; passenger flow and turnover lack strong incentives, and the market is dominated by stock turnover. The price level continues to have structural characteristics. The price resilience of popular models is fair, and old fuel vehicles are still under pressure; the overall business experience of car merchants is lackluster, pressure to clear inventory continues, and the pattern of industry differentiation continues. New energy boutique vehicles are still few structural opportunities.