Significant Recovery of Joint Venture Brands! April Car Resale Rates Released

The China Automobile Circulation Association has published the April 2025 China Car Resale Rate Research Report. The report indicates that most vehicle categories experienced an increase in their three-year resale rates in April. The highest resale rate is for MPVs, standing at 58.5%, although this reflects a 0.4% decrease compared to March. Categories that also saw a month-over-month decline include small cars, small SUVs, and mid to large SUVs, with three-year resale rates of 53.1%, 49.0%, and 55.5%, respectively. These figures represent declines of 2.2%, 0.3%, and 0.2% from March, with small cars experiencing the largest drop.

In contrast, compact cars, mid-size cars, mid to large cars, and mid-size SUVs showed growth in their resale rates, recorded at 48.8%, 52.9%, 56.0%, and 51.0%, respectively, which corresponds to increases of 0.1%, 0.3%, 0.1%, and 0.2% compared to March.

Next, let’s examine the three-year resale rates of various brand categories. Among luxury brands, the top three in April are Porsche, Lexus, and Mercedes-Benz. Porsche saw its resale rate decrease by 0.3% to 69.0%, while Lexus experienced a notable increase of 1.4% to 61.7%. Mercedes-Benz’s resale rate dropped 0.1% to 59.5%. Of these top three brands, only Lexus achieved a month-over-month increase. The top five also includes Land Rover and BMW, with resale rates of 55.2% and 53.9%, respectively; BMW’s rate fell by 0.3%.

Additionally, brands such as Tesla, Audi, Lincoln, Cadillac, Volvo, Jaguar, and Infiniti made the list, with resale rates of 51.6%, 51.0%, 50.5%, 48.1%, 44.7%, 41.5%, and 39.3% respectively. Notably, Infiniti is the only brand on the list with a resale rate below 40%.

In terms of joint venture brands, the leading two in April remain Honda and Toyota from the Japanese market, with resale rates of 57.9% and 56.1%. Honda experienced a decrease of 0.4%, while Toyota’s rate increased by 0.2%. Another Japanese brand, Mazda, ranks sixth with a resale rate of 51.9%, reflecting a 0.9% increase. Nissan and Mitsubishi are positioned eleventh and fourteenth with resale rates of 49.4% and 46.9%, both showing a 0.1% decline.

Other brands like Volkswagen, Ford, and Kia are also included in the top five, with resale rates of 52.8%, 52.0%, and 51.9%, where Ford saw a 1.1% increase. Brands such as Buick, Citroën, Škoda, and Peugeot also experienced growth, while Jeep, Hyundai, and Chevrolet showed a downward trend.

Looking at domestic brands, GAC tops the list in April with a resale rate increasing by 0.6% to 57.5%. Following closely are Tank, Lynk & Co, Geely, and Haval, with rates of 56.8%, 54.8%, 54.3%, and 54.0%, respectively. Geely’s rate fell by 0.9%. Brands such as Changan, Chery, Roewe, Li Auto, NIO, BYD, Oshan, and Wuling also saw declines. MG maintained its rate at 46.4%, while Hongqi experienced a 1.1% increase to 45.3%. Overall, GAC, Tank, Lynk & Co, Haval, and Hongqi showed promising gains in April.

Finally, let’s take a look at the new energy vehicle sector. In terms of power type, the three-year resale rate for plug-in hybrid models in April was 40.1%, a decrease of 5.3% from 45.4% in March. The resale rate for pure electric vehicles was 44.6%, down 0.4% from 45.0% in March. Among specific models, the top three one-year resale rates for plug-in hybrids are the Tank 700 New Energy, Porsche Cayenne E-Hybrid, and Wenjie M9, with rates of 88.2%, 84.0%, and 84.0%, respectively. For three-year resale rates, the top models are the Porsche Cayenne E-Hybrid, Porsche Panamera E-Hybrid, and Li Auto L9, with rates of 60.8%, 59.4%, and 58.1%.

In the pure electric vehicle category, the top three one-year resale rates are for the Xiaomi SU7, Wenjie M9, and Li Auto MEGA, with respective rates of 88.7%, 85.2%, and 79.3%. The three-year resale rate leaders are the Porsche Taycan, Tesla Model 3, and NIO ET5, with rates of 59.9%, 56.8%, and 54.9%.