The China Automobile Dealers Association recently released data showing that in the first four months of this year, the cumulative transaction volume of second-hand cars was 6.3086 million, a year-on-year increase of 0.47%, an increase of 29300 compared to the same period last year, with a cumulative transaction amount of 413.437 billion yuan. Among them, the transaction volume of the national second-hand car market in April was 1.7013 million units, a month on month decrease of 3.05% and a year-on-year increase of 1.33%, with a transaction amount of 110.221 billion yuan. With the accelerated implementation of policies to boost consumption and the continuous transformation of residents' consumption concepts, the activity of the second-hand car trading market is gradually increasing. Wang Qing, Deputy Director of the Market Economy Research Institute of the Development Research Center of the State Council, stated that the second-hand car market and the new car market are a cycle, and a mature second-hand car market will promote the new car market. Compared with developed markets, the proportion of second-hand car transactions in China is still relatively low, and the bottlenecks in the second-hand car market urgently need to be overcome. In terms of market circulation, the lack of transparency in vehicle condition and price information is the main obstacle to the development of the industry. The frequent standardization of vehicle condition information, such as water damaged cars and accident car appraisals, has led to consumer complaints. Yu Deying, Deputy Director of the Vehicle and Vessel Department of China International Engineering Consulting Co., Ltd.'s High Tech Business Department, suggested improving the level of second-hand car testing and valuation technology, creating an authoritative and professional testing institution, building a third-party information query platform, and promoting the safe and convenient transaction of second-hand cars. The digital service platform has become an important part of reconstructing the ecosystem of the used car industry. According to Lian Zhangwen, Director of the National Engineering Laboratory for Electronic Government Cloud Computing Application Technology, the national automobile maintenance electronic health record system has formed more than 20 key indicators covering accident history, core component testing, etc., achieving interconnectivity of vehicle lifecycle data. In terms of business model, in the past, China's second-hand car business was mainly based on the brokerage model, and there was a phenomenon of "small scattered weak" business entities in the second-hand car market. The "Special Action Plan for Boosting Consumption" issued by the Central Office and the State Council proposes to cultivate and strengthen second-hand car operators. Under the guidance of policies, the development of commercialized retail formats for second-hand cars has entered a new stage, gradually shifting from traditional brokerage models to distribution models. Yu Deying stated that we should take this as an opportunity to promote the transformation and upgrading of second-hand car related enterprises towards chain and branding, and enhance the overall service quality and market competitiveness of the industry. At the same time, encourage automobile manufacturers to enter the field of used car business, expand the supply of vehicle resources, improve vehicle quality, and achieve the coordinated development of new and used car business. Promote car companies to leverage their resource advantages, connect the upstream and downstream of the industrial chain, and inject new vitality into the market. In order to further unleash the potential of automobile consumption, many regions have recently introduced policies to vigorously promote the development of second-hand car circulation. The Department of Commerce of Hubei Province and 11 other departments have issued opinions on promoting the high-quality development of second-hand car circulation in Hubei Province, proposing to simplify the registration procedures for second-hand car transactions, integrate the processes of second-hand car transactions, taxation, insurance, and registration, and provide "one-stop" services. Guangdong Province has released the "Implementation Plan for Guangdong Province's Special Action to Boost Consumption", emphasizing the continuous implementation of facilitation measures such as "reverse invoicing" for second-hand car sales and cross regional transaction registration, establishing a Guangdong Province second-hand car trading service platform, and promoting transparency of second-hand car information. With the continuous growth of new car sales in the new energy vehicle market, the scale of new energy used car ownership is also increasing. The second-hand penetration rate of new energy vehicles has risen from 3.6% at the end of 2022 to 8.7% in March this year, reaching the highest level in three years. In the first quarter of this year, a total of 306500 new energy used cars were traded nationwide, a year-on-year increase of 24.8%. After the entry of new energy used cars into the market, it brings new challenges to vehicle evaluation. Traditional fuel vehicles, as long as key components such as the engine and gearbox have no major problems, have relatively controllable service life and post use costs. However, the core value of new energy used cars lies in the "three electricity", especially the power battery of the vehicle. The degree of battery life degradation and lifespan directly affect the owner's value preservation and post use costs. Wang Qing stated that the assessment of battery residual value is a difficult problem that urgently needs to be solved in the circulation of new energy second-hand vehicles. The next step is to establish a dismantling and recycling system for waste batteries of new energy vehicles, and extend the green industry chain. (New Society)