The China Automobile Dealers Association (CADA) released their October 2026 China Auto Residual Value Report, which shows that the used-car market lost momentum after a brief recovery in September. Online used-car listings declined month over month, while residual values fell across all major vehicle segments.
China recorded 738,256 online used-car listings in October, down 2.1% MoM and 12.4% YoY. Listings had risen 5.2% MoM in September, ending a three-month decline, but the rebound proved short-lived.
Residual values also weakened across the board. After edging up or holding steady in September, three-year-old vehicles in every segment saw their residual values decline in October.
SUVs recorded some of the steepest drops. The residual value of midsize and large SUVs fell to 50.6% from 52.0% in September, while MPVs dropped to 48.7% from 49.8%. Changes among sedans were more modest, with compact cars slipping to 42.5%.
Luxury and mainstream joint-venture brands also lost ground after showing signs of stabilization in September.
Tesla remained steady and topped the luxury brand rankings at 56.3%. Porsche followed at 55.7%, while Lexus came in at 52.7%. Mercedes-Benz, BMW and Audi also saw their residual values decline.
Mainstream joint-venture brands broadly moved lower. Japanese automakers continued to dominate the top three, although all recorded declines: Honda stood at 49.2%, Toyota at 49.0% and Mazda at 48.7%.
Domestic Chinese brands saw only minor adjustments. GAC Trumpchi and Tank remained near the top at 54.3% and 54.1%, respectively. Lynk & Co, Changan Oshan and Zeekr posted modest gains, reaching 47.7%, 45.6% and 44.3%, respectively.
New energy vehicle brands also underwent a mild correction, but the gap among leading brands widened. Tesla remained stable, while Tank, which ranked among the leaders in September, recorded a more pronounced decline to 53.0%.
By powertrain, both battery electric vehicles and plug-in hybrids lost residual value in October. The three-year residual value of BEVs fell to 45.1% from 45.7% in September, ending a two-month recovery. PHEVs declined to 42.2% from 42.9%, extending their downward trend.
At the model level, the Xiaomi YU7 led the one-year-old BEV rankings with an 82.3% residual value, followed by the Li Auto i6 at 82.0% and the NIO ES8 at 77.5%.
Among three-year-old BEVs, Tesla continued to hold all three top spots. The Model 3 ranked first at 61.3%, followed by the Model X at 59.4% and the Model Y at 53.9%.
In the one-year-old PHEV rankings, the Zeekr 9X led at 80.2%, ahead of the Fangchengbao Ti7 at 76.8% and the Tank 400 New Energy at 75.0%.
The three-year-old PHEV rankings were led by the Tank 500 New Energy at 62.6%, followed by the Tank 400 New Energy at 57.6% and the Haval Raptor PHEV at 53.8%.
The Zeekr 9X also topped the segment for full-size SUVs priced above RMB 500K ($75.2K), posting an 80.2% residual value. The AITO M9 ranked second at 72.2%, while the Lincoln Navigator came third at 71.8%.