Updated On:
Jul 13, 2026 | 04:48 PM IST
Summary
China EV Market: China is the world’s largest electric vehicle market but a new figure revealed here has shocked the auto industry. Many such figures have come to light in a Bloomberg report.
China EV Market (Source. Social Media)
Expansion
China Electric Vehicles: China is the world’s largest electric vehicle market but a new figure revealed here has shocked the auto industry. For your information, let us tell you that a Bloomberg report has revealed that the average age of electric cars running on the road in China is only 1.8 years. Which simply means that most people are selling their old EV and buying a new electric car in less than two years.
The interesting thing in this is that this period is considered to be less than the time taken by many people to change their smartphones. In comparison, the average age of cars running on petrol and diesel is said to be 8.2 years. This figure has been published by 21st Century Business Herald based on the report of China Association of Automobile Manufacturers (CAAM) and Hejun Consulting.
New technology became the biggest reason
The report states that technology in electric cars is changing so fast that old models start feeling outdated very quickly. New generation batteries are offering more range, software is constantly being updated and AI based smart features are increasing rapidly. Apart from this, companies are also launching new models in short span of time. In such a situation, many customers are preferring to replace their old EV to get better range, advanced driving system and modern digital experience. This trend is being seen especially among those people who are at the forefront in adopting new technology.
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Resale value also drops rapidly
The report also revealed that the resale value of electric cars falls faster than conventional cars. On average, an EV remains worth only 43.35% of its original price three years after purchase. For example, if someone has bought an electric car worth Rs 20 lakh, then after three years its price may be around Rs 8.5 to 9 lakh. This is the reason why many customers consider it more beneficial to sell their car in time and buy a new EV.
Also read: UP Cab Policy: Now the arbitrariness of companies like Ola-Uber will not work, they will not be able to increase the fare arbitrarily during peak hours.
New technology becomes the first choice of young buyers
The report also states that youth under the age of 35 are the biggest buyers of electric cars in China. For them, car is not just a means of travel but like a smart gadget. Larger touchscreens, AI features, connected car technology and better user experience play an important role in their purchasing decisions. According to data from Chinese automobile platform Dongchedi, 43% of EV owners change their cars mainly so that they can get a car with new smart features and better user experience. It is clear from this that the electric vehicle market in China is now driven not only by the environment but also by rapidly changing technology.
