The prices of second-hand luxury cars have seen a sharp decline, with the 2018 Porsche Macan dropping to a minimum of RMB 97,500, experiencing a depreciation of over 20% in just one month for nearly new cars.

According to a report by Kuaikeji on July 7, the China Automobile Dealers Association and Jingzhengu jointly released the “Research Report on the Residual Value of Chinese Automobiles in June 2026”. This report reveals that Porsche, once a top performer in terms of residual value, has witnessed significant depreciation, with the residual value of a three-year-old model dropping to 58.5%, officially falling below the 60% threshold.

Image Source: Kuaikeji

Other mainstream luxury brands have also experienced a decline in residual values. Mercedes-Benz’s three-year residual value has dropped from 54.8% to 53.8%, while Lexus, BMW, and Audi have all seen similar declines, leading to an overall decrease in the residual value of second-hand luxury cars.

Comparing with data from previous years, a year ago, Porsche’s three-year residual value was still at 68.8%, and it even reached 100.3% at the end of 2022, meaning that a three-year-old Porsche could still be sold at its original price in the second-hand market. The core reason for this market shift is the increasing popularity of new energy vehicles.

In May 2026, the penetration rate of domestic new energy vehicles exceeded 62.9%, while sales of fuel-powered vehicles declined by nearly 40% year-on-year. The top ten sales rankings for that month were all occupied by new energy models, indicating that traditional fuel-powered vehicles have lost their dominant market position. Many consumers are now opting for high-end new energy models, leading to a continuous decrease in demand for traditional luxury fuel-powered vehicles in the second-hand market.

A Porsche 4S dealership informed the New Knowledge Research Institute that currently, the proportion of fuel-powered vehicles in the market is relatively low, with more customers choosing new energy vehicles. As a result, fuel-powered vehicles are selling slightly slower, and price fluctuations in the second-hand market are to be expected. However, it is unlikely that the (Macan model) will continue to decline rapidly in the future; instead, price changes will slow down within a certain range.

Besides Porsche, another luxury fuel-powered vehicle brand, Bentley, has also not been spared from the “price avalanche.”

According to Sina Finance, a staff member at a Bentley 4S dealership disclosed, “Taking the 2026 Bentley Flying Spur as an example, the comprehensive price reduction ranges from RMB 350,000 to RMB 450,000, and with financing, the discount can reach around RMB 500,000.”

Price fluctuations for Bentley in the second-hand market are even more pronounced. Data indicates that the three-year residual value of the Bentley Flying Spur has plummeted from nearly 75% last year to 62%, with a depreciation of over 12 percentage points in one year.

According to Shandong Peninsula News, a used car dealer at the Luhai Automobile Trading Market in Qingdao is selling an 8-year-old Bentley Flying Spur for only RMB 268,000, while an entry-level Porsche Macan is priced as low as RMB 150,000. A nearly new Volkswagen Touareg, which costs nearly RMB 900,000 when new, has a second-hand transaction price of RMB 68,000. Additionally, several mid-to-large luxury SUVs from Mercedes-Benz and Land Rover have also experienced significant price drops.

Liu Qingsong, the head of Qingdao Baoshi Mingche, stated that in the past, the annual depreciation rate of second-hand luxury fuel-powered vehicles generally did not exceed 30%, but this year, the depreciation rate reached 30% in May alone.

Interface News inquired with a second-hand car platform and found that in the same period of 2025, the second-hand price of an 8-year-old Porsche Macan stabilized around RMB 320,000, while the listing price of a Bentley Flying Spur of the same age remained around RMB 550,000. In just one year, the prices of both models have nearly halved.

According to second-hand car prices on Autohome, the lowest price for a 2018 Porsche Macan 2.0T has reached RMB 97,500, falling below the RMB 100,000 mark.

The price of the latest 2026 Porsche Macan 2.0T Dream Chaser Edition has dropped to RMB 516,800, with a mileage of only 22 kilometers and a registration date of June this year, making it almost a new car. The tax-inclusive price of this new car is RMB 670,800, representing a second-hand price reduction of about 23%.

The price of a 2010 Bentley Flying Spur 6.0T five-seater has dropped to RMB 158,000, while the highest second-hand price for a 2024 Bentley Flying Spur 4.0T V8 S is RMB 3.28 million, for a nearly new car with no registration and a mileage of only 10 kilometers. This price is also RMB 229,300 lower than the tax-inclusive price of RMB 3.5093 million for a new car.

According to a previously released report by the China Automobile Dealers Association, continuous price reductions of new fuel-powered vehicles at the terminal have directly dragged down the overall second-hand car market. The mid-to-high-end market, including mid-to-large passenger vehicles and SUVs, has been most significantly impacted by new car price reductions, leading to a larger decrease in residual values.

According to data from the China Passenger Car Association, the core reason for the decline in the domestic auto market is the significant contraction in sales of fuel-powered vehicles due to the impact of high fuel prices. In May, fuel-powered vehicles accounted for 37.1% of the market, with their year-on-year decline accounting for 82% of the total decline in passenger vehicle sales, dragging down the overall market trend.