On March 6th, the China Automobile Dealers Association released the "February 2026 China Automobile Residual Value Research Report." The report shows that in February, MPVs had the highest three-year residual value at 56.6%, a 0.6% increase month-on-month. Mid-to-large SUVs followed at 56.5%, but this was a 0.4% decrease month-on-month. Other segments experiencing a month-on-month decline included small cars, compact cars, mid-size cars, mid-to-large cars, compact SUVs, and mid-size SUVs, with three-year residual values of 50.9%, 48.4%, 50.0%, 51.7%, 50.6%, and 50.4% respectively. Small SUVs, however, saw a month-on-month increase, rising 0.5% to 50.3%.
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In terms of three-year residual value for various brands, the top three luxury brands in February were Porsche, Lexus, and Tesla, with three-year residual value rates of 63.0%, 57.9%, and 56.1%, respectively. The first two saw month-on-month declines of 0.6% and 1.5%, while Tesla saw a month-on-month increase of 0.3%. Mercedes-Benz, Land Rover, and BMW also had three-year residual value rates above 50%, at 55.9%, 54.5%, and 50.9%, respectively, with month-on-month declines of 0.2%, 0.4%, and 0.8%. Audi saw a month-on-month decline of 0.8% to 49.7%; Cadillac saw a month-on-month decline of 0.1% to 46.5%; and Jaguar saw a month-on-month decline of 0.5% to 39.2%. Lincoln, Volvo, and Infiniti had three-year residual value rates of 48.4%, 41.0%, and 36.2%, respectively, with month-on-month increases of 0.5%, 0.3%, and 1.3%.
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Among joint venture brands, the top three on the February list were all Japanese brands: Honda, Toyota, and Mazda, with three-year residual value rates of 57.3%, 56.9%, and 54.5%, respectively. Honda and Toyota saw month-on-month increases of 0.1% and 0.8%, while Mazda experienced a 1.2% decline. Nissan and Mitsubishi, also Japanese brands, ranked twelfth and thirteenth respectively, with residual value rates of 47.2% and 44.9%, both declining by 0.1% month-on-month. In short, only Honda and Toyota among the five Japanese brands on the February list achieved month-on-month growth.
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Regarding other brands, Volkswagen and Ford both made it into the top five, with three-year residual value rates of 51.7% and 51.1%, respectively, declining by 0.3% and 0.1% month-on-month. Kia followed closely behind, with its three-year residual value rate increasing by 0.1% month-on-month to 50.0%. In addition, the three-year residual value rates of Hyundai, Buick, Citroën, and Chevrolet all declined month-on-month, with rates of 48.8%, 48.5%, 48.4%, and 39.9% respectively, down 0.1%, 0.9%, 0.7%, and 0.1% month-on-month. Skoda's three-year residual value rate increased by 0.3% month-on-month to 48.1%; while Peugeot's three-year residual value rate remained unchanged from January at 48.1%.
Among domestic brands, Trumpchi still had the highest residual value rate in February at 60.3%, down 0.1% month-on-month. Tank also saw a month-on-month decline of 0.1% to 60.0%. Nine brands-Jetour, Lynk & Co, Changan, Li Auto, MG, Denza, Haval, Geely, and Chery-achieved three-year residual value rates exceeding 50%, specifically 53.7%, 53.5%, 51.7%, 51.7%, 51.1%, 51.1%, 51.0%, 50.9%, and 50.7%, respectively. Among them, Changan, Li Auto, Denza, Haval, and Geely saw month-on-month growth, increasing by 0.1%, 0.2%, 0.1%, 0.3%, and 0.1%, respectively. In addition to the aforementioned brands, BYD, Oshan, Roewe, HarmonyOS, Wuling, Aion, NIO, Jike, and Leapmotor also made the list, with three-year residual value rates of 47.7%, 47.7%, 47.6%, 47.3%, 46.9%, 46.6%, 46.4%, 46.3%, and 45.0%, respectively. The report indicates that the brands with the highest residual value rates are primarily focused on gasoline-powered vehicles.
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In the new energy vehicle sector, categorized by powertrain type, the three-year residual value rate for plug-in hybrid electric vehicles (PHEVs) in February was 46.2%, a 0.6% decrease from January's 46.8%; the residual value rate for pure electric vehicles was 44.5%, a 0.3% decrease from January's 44.8%. The report noted, "The overall residual value rate of new energy vehicles declined this month, influenced by the Spring Festival holiday, resulting in a less active used car market. Pure electric vehicles are currently at a low price point, with limited room for further decline."
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Specifically, in the PHEV rankings, the top three PHEVs in terms of one-year residual value were the Wenjie M9, Tank 400 New Energy, and Tank 700 New Energy, with residual values of 84.1%, 79.7%, and 77.9%, respectively; the top three models in terms of three-year residual value were the Tank 500 New Energy, Haval Menglong, and Tank 400 New Energy, with residual values of 64.2%, 60.0%, and 59.7%, respectively. 6
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In the pure electric vehicle rankings, the top three models in terms of one-year residual value are the Wenjie M9, Jike 009, and Li Auto MEGA, with residual values of 82.1%, 81.6%, and 80.8%, respectively. The top three models in terms of three-year residual value are the Model X, Model 3, and Model Y, with residual values of 61.7%, 61.4%, and 55.0%, respectively.
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