As early-sold new energy vehicles gradually enter the replacement cycle, the global used NEV market is developing rapidly. Data shows that in the first half of 2025, global used NEV transaction volume increased by more than 60% year-on-year.
Used NEV transactions in the Chinese market are particularly active. Due to rapid new product iteration and strong promotional efforts, the residual value of new energy vehicles is overall lower than that of fuel vehicles, which has affected consumers’ purchase confidence to a certain extent.
In terms of residual value, Tesla and BYD models perform relatively well, with three-year residual value rates between 55%-65%. The residual value rates of other brands are generally lower, with some models having three-year residual value rates even below 40%.
Main factors restricting the development of the used NEV market include: inconsistent battery condition testing standards, imperfect residual value evaluation systems, and consumer skepticism about used EV quality.
Industry insiders believe that with the development of third-party testing institutions and the establishment of relevant standards, the used NEV market will gradually mature. For export enterprises, used NEVs may also become a new business growth point.