The market for used luxury gasoline cars in China has recently seen a wave of sharp price drops, with one entry-level model of the German sports car brand Porsche selling for only 150,000 RMB—its price slashed by half compared to last year.
According to media reports from “Wallstreetcn” and “Jintou,” the listed prices for luxury used cars at the Qingdao Luhai Automobile Trading Market show that some British Bentley Flying Spur cars with over eight years of use now have second-hand listing prices as low as 268,000 RMB, which is nearly one-tenth of their original sales price.
The entry-level Porsche Macan now has second-hand quote prices as low as 150,000 RMB. Meanwhile, the actual second-hand transaction price of the German Volkswagen Touareg, whose original manufacturer price reached close to 900,000 RMB, has dropped to just 68,000 RMB.
In addition, several models of mid-to-large luxury SUVs from brands such as Mercedes (known as Benz in China) and Land Rover have simultaneously seen significant cuts in their used market prices recently, and the overall price range is now close to that of ordinary compact family cars.
The reports indicate that the above data from Qingdao’s trading market is not an isolated phenomenon. Used luxury gasoline vehicles in Shanghai also experienced a wave of dense price drops in mid-June. Market trends show that luxury gasoline cars originally priced in the 300,000 to 1 million RMB range have been most severely impacted by the new energy vehicle industry.
The “myth” of the value retention of luxury gasoline cars may be coming to an end. Data from the China Automobile Dealers Association’s annual value retention reports show that Porsche’s three-year value retention rate fell from 92% in 2022 to 67% in 2025—a drop of over 25%. Data from last year also showed the three-year value retention rate for the three major German brands (Mercedes, BMW, Audi) had also receded to the 50% to 60% range.