Shanghai Used Car Association: Analysis of Shanghai used car market from January to May 2020

From January to May, the second-hand car transaction volume in Shanghai was 170,678, down 17.02% year-on-year. In May, the second-hand car transaction volume in Shanghai showed a significant decline, with the total second-hand car transaction volume in that month being 45,047, down 10.57% from the previous month and 8.77% from the previous year. The main reasons for the month-on-month decline in the second-hand car transaction volume in May are as follows: First, due to the May Day holiday, the number of transaction days decreased by 2 days from the previous month; second, Shanghai fully implemented the new policy for second-hand car transactions with Shanghai C license plates from May, resulting in a decrease of nearly 1,000 second-hand car transactions with Shanghai C license plates in the city, down 9.81% from the previous month. The total second-hand car transaction volume in that month was 4.265 billion yuan, down 10.12% from the previous month and 9.55% from the previous year. The specific analysis is as follows: