Gasgoo Munich- On July 10, the 2026 China Used Car Conference convened in Wuxi, Jiangsu, under the theme "Reconstruct · Renew." Marking the event's debut in this strategic hub—where the Yangtze River economic belt meets the Yangtze River Delta integration zone—it attracted thousands of industry professionals focused on navigating transformation and unlocking new growth.
A wave of policies preceded the gathering, ranging from fresh trade-in subsidies and the launch of NEV campaigns in rural areas to measures aimed at boosting aftermarket consumption. Authorities also released a list of pilot cities for circulation and consumption reform. A recent State Council briefing emphasized the importance of facilitating efficient used car circulation. Data shows that from January to May, used car transactions reached 8.095 million units, a 2.3% increase from a year earlier. For the first time, the ratio of new-to-used car sales hit parity at 1:1. With new car demand remaining soft, the used car market has shown notable resilience, effectively propping up overall auto consumption.
Image Source: China Automobile Dealers Association
In his opening address, Xiao Zhengsan, president of the China Automobile Dealers Association, noted that the used car sector is growing both in scale and value. He identified eight major shifts: closer ties between new and used vehicle sales, smoother domestic and external circulation channels, a rapidly changing vehicle age structure, fast-expanding niche segments, rising consolidation, deeper online-offline integration, active adjustments by traditional markets, and steady progress in rebuilding service systems and consumer trust.
Acknowledging the industry's mixed prospects, Xiao put forward four initiatives for companies: adhere to integrity, speed up business transformation, actively tap into emerging sectors, and collectively uphold fair competition. He said the association would continue to act as a bridge between the government and enterprises, strengthening service support and improving institutional frameworks. By working with regulators on governance, the group aims to foster healthy development in the used car market during this period of structural adjustment.
