The second-hand truck market is heating up

Entering the second half of 2025, the activity of the domestic second-hand truck market has significantly increased compared to the same period last year. According to feedback from multiple second-hand car trading markets and online trading platforms, the listing volume and consultation volume of tractors, dump trucks, and cargo trucks have increased synchronously, and National V and National VI vehicles with a vehicle age of three to six years have become the main source of transactions. This round of warming is not driven by a single factor, as changes in policy, supply, and demand occur almost simultaneously.

Policy and demand are simultaneously driven

In March 2024, the State Council issued the "Action Plan for Promoting Large scale Equipment Renewal and Consumer Goods Trade in", which clearly supports the scrapping and renewal of old operating diesel trucks, and relevant policies will continue to be strengthened and expanded in 2025. The policy directly changed the structure of vehicle sources: a batch of old operating trucks with National IV and below emissions accelerated their exit from the transportation market. Among them, vehicles with acceptable conditions were refurbished and entered the second-hand circulation stage, becoming an important supplement to the low-priced segment.

The changes on the demand side mainly come from freight rates and new car prices. In the past two years, the competition in the new car market has been fierce, and some brands have offered significant discounts at the terminal, which has lowered the prices of second-hand cars of the same model; At the same time, road freight rates have been running at a low level for a long time, and retail car purchase budgets have tightened. More people are turning their attention to second-hand car models with higher cost-effectiveness. From the feedback from the transaction side, it can be seen that the proportion of first-time car buyers and car upgrades among customers who consult second-hand tractor owners this year is increasing, with many of them being individual drivers who have been in the industry for three to five years.

The structure of car sources is becoming younger

Unlike the impression a few years ago that "older cars and problematic cars are the main ones", the current second-hand truck market has a significantly younger vehicle source structure. The proportion of National V vehicles continues to increase, while National VI vehicles have begun to enter second-hand circulation on a large scale, with vehicle ages generally concentrated between three to five years. The reason is that around 2020 was the peak of domestic heavy truck sales, and that batch of vehicles is now entering the replacement cycle; At the same time, some fleets have been updated in advance under the promotion of emission upgrades and trade in policies, releasing a batch of new vehicles with better condition.

In terms of vehicle structure, tractors are still the main force in transactions, mainly used for mainline transportation and port truck consolidation; Due to the impact of infrastructure and real estate, there are significant regional differences in dump trucks and mixer trucks, and the demand in areas with concentrated sand and gravel transportation is relatively strong; Refrigerated trucks and box trucks in cargo trucks benefit from urban distribution and cold chain demand, with faster circulation speeds. The second-hand sources of natural gas heavy-duty trucks and new energy heavy-duty trucks have also emerged, but their proportion is still very small, and the pricing system is not yet mature.

Significant price differentiation

The rising market temperature does not mean that all cars can be sold at a good price. In actual transactions, the price difference between two cars of the same brand, year, and configuration can reach tens of thousands of yuan due to differences in vehicle condition, maintenance records, and completeness of procedures. Brand and ownership are still key factors affecting residual value. Mainstream brands such as Jiefang, Dongfeng, China National Heavy Duty Truck Group, and Shaanxi Automobile Group have universal vehicle parts and dense maintenance outlets, making them easier to transact in the second-hand market; Models of niche brands or special configurations have significantly longer circulation cycles.

Testing reports are becoming the basis for pricing. More and more car manufacturers are simultaneously providing third-party or self built testing results when listing, covering the status of the three major components of the engine, gearbox, and axle, the structure of the beam and chassis, accident and water immersion investigation, as well as mileage and maintenance record verification. For buyers, a recheckable testing report is more valuable than verbal promises; For sellers, transparent vehicle condition also means shorter transaction cycles and more stable transaction prices.

Risks still need to be vigilant

The warming of the industry also brings new risks. Some of the vehicle sources have accident repairs, water bubbles, burn marks, or have been illegally modified or used with announced parameters; Some vehicles have unresolved mortgages or financial disputes, and it is only discovered during the transfer that they cannot be processed; There are also car dealers who attract traffic with significantly lower quotes than the market, and the online pictures do not match the actual cars offline. To purchase a second-hand operating truck, it is necessary to confirm whether the road transport certificate and other operating procedures are complete, and whether the emission standards meet the admission requirements of the operating area.

A relatively safe approach is to first verify whether the vehicle announcement parameters are consistent with the actual vehicle condition, and then check the maintenance records and accident records; During on-site vehicle inspection, focus on checking the condition of the main beam, cab structure, engine, and gearbox. If necessary, bring a technician for re inspection; Confirm in the transaction process that the mortgage has been released and the procedures can be transferred normally, avoiding payment before transfer.

The buyer structure is also changing

From the perspective of transaction entities, individual drivers are still the largest buyers of second-hand trucks, but the procurement ratio of logistics companies and fleets is increasing. The fleet places greater emphasis on the consistency of vehicles, often purchasing models of the same brand and configuration in batches for unified maintenance and scheduling; Individual drivers are more concerned about the total price and monthly payment pressure, and tend to choose vehicles that are slightly older but in good condition for the three major components. Exporters are a new purchasing force that has emerged in the past two years, preferring mainstream brands, models with complete procedures, and easy to prepare models. They are less sensitive to prices than domestic end buyers.

Standardization is a long-term direction

From the perspective of industry trends, the transaction of second-hand trucks is shifting from "acquaintance introduction, car viewing negotiation" to "inspection pricing, standard delivery". Transparent vehicle condition, compliant procedures, and traceable after-sales service are becoming a new competitive watershed among car dealers. For cardholders, there are more car sources and choices in the market, but the basic logic of choosing a car has not changed: first look at the source of goods and working conditions, then look at the condition and procedures of the car, and finally negotiate the price.

It should be noted that an increase in market activity does not necessarily mean a unilateral rise in prices. Models with sufficient supply of vehicles will still be suppressed by the new car market and freight rates in terms of price; Only vehicles with good condition, complete procedures, and mainstream brand can take the initiative in bargaining.