China Automotive News: Yoliang Ranks Among China’s Top Three Used Vehicle Auction Platforms, With More Than 7,000 Consignor Partners
October 24, 2025
Original article published by: China Automotive News on October 23, 2025
Editor: Liu Xiaoye
Against the strong policy momentum generated by China’s initiatives to promote large-scale equipment renewal and consumer goods trade-ins, China’s motor vehicle auction market has experienced rapid growth in recent years.
According to the China Association of Auctioneers, 1.2352 million motor vehicles were sold through auctions nationwide in 2024, generating total transaction value of RMB 49.361 billion. Transaction volume and value increased 75.83% and 55.21%, respectively, from the previous year, setting new historical records for the seventh consecutive year.
Motor vehicle auctions have continued to play a growing role in facilitating domestic used vehicle circulation and supporting automotive consumption. In 2024, the share of auction transactions within China’s overall used vehicle circulation market increased by a further three percentage points year-on-year.
Against this backdrop, the Third China Motor Vehicle Auction Industry Conference was held in Qingdao, Shandong Province, on October 22–23, 2025. Organized by the China Association of Auctioneers under the theme “Industry Growth, Technology Shapes the Future,” the conference was guided by the Shandong Provincial Department of Commerce and jointly hosted by the Motor Vehicle Auction Professional Committee of the China Association of Auctioneers, the Shandong Auction Association, and Qingdao Tengxin Auction Co., Ltd.
Nearly 400 representatives attended the conference, including government officials, industry organizations, academics, domestic and international used vehicle auction experts, auction companies and platforms, automakers, dealership groups, used vehicle dealers, automotive marketplaces, mobility platforms, and financial, insurance, and related service providers.
Dual Standards: Strengthening the Foundation for Industry Standardization
The conference introduced two new standards: the national standard Auction Terminology and the industry standard Electric Vehicle Auction Inspection and Evaluation Specification.
As China’s first national-level standard for auction terminology, Auction Terminology establishes a comprehensive terminology framework covering different auction formats and the entire auction process. The standard fills a gap at the national-standard level and represents an important step toward establishing a more unified institutional foundation for China’s auction industry.
The standard also introduces terminology covering emerging formats such as livestream auctions and online judicial auctions, while incorporating professional fields including art, motor vehicle, and agricultural product auctions. These provisions are intended to support the industry’s digital transformation and further align China’s auction practices with international markets.
The Electric Vehicle Auction Inspection and Evaluation Specification, meanwhile, is described as China’s first auction-specific inspection and evaluation standard for electric vehicles.
The standard introduces an integrated SS95 rating system and applies inspection technologies covering the three core electric vehicle systems—battery, motor, and electronic control systems. Its implementation is expected to improve the clarity and consistency of inspection conclusions, strengthen confidence in electric vehicle circulation, and provide a standardized Chinese approach to electric vehicle inspection for the international used vehicle market.
Wang Bo, Chairman of the China Association of Auctioneers, said that Auction Terminology establishes greater nationwide consistency in auction quality standards at the rules level, while the Electric Vehicle Auction Inspection and Evaluation Specification provides technical support for the development of a green circular economy.
Together, the two standards reflect the broader transformation of China’s economy and society toward more standardized, digitalized, and sustainable development.
Dual Growth Engines: Online Auctions and New Energy Vehicles
As motor vehicle auction companies continue to invest in digitalization and specialization, significant changes are taking place in both transaction formats and vehicle categories.
According to the China Motor Vehicle Auction Market Statistical Annual Report, online auctions—including fully online and simultaneous online/offline auctions—accounted for 118,400 auction sessions in 2024, or 97.98% of all motor vehicle auction sessions nationwide.
The number of fully online auction sessions increased 170.73% year-on-year.
New energy vehicles also continued to gain market share. Battery electric vehicles and plug-in hybrid vehicles generated combined auction transaction value of RMB 6.268 billion, with their market share increasing by another 2.16 percentage points from the previous year.
By vehicle type, basic passenger vehicles, primarily sedans, remained the dominant category, accounting for 70.26% of the market.
By vehicle condition, residual-value vehicles recorded a relatively high transaction rate of 88.21%.
The market is also seeing an increase in the share of older vehicles, with vehicles aged more than six years accounting for a share 3.95 percentage points higher than the previous year.
Han Tao, Vice Chairman of the China Association of Auctioneers and Director of its Motor Vehicle Auction Professional Committee, said the continued expansion of online auctions and the growing impact of new energy vehicle policies are expected to become two major growth engines for China’s motor vehicle auction market.
He added that the association will continue to focus on standardization, intelligent technology applications, and platform development to support the industry’s high-quality growth.
Technology and AI Transform Motor Vehicle Auctions
The conference also brought together executives from leading motor vehicle auction and automotive service companies to discuss practical applications of technology.
Industry representatives including Pei Haibo, Chairman of Qingdao Tengxin Auction Co., Ltd.; He Zheng, Operations Director of Uxin Auction; Zheng Meng, General Manager of China Certification & Inspection Group Automotive Evaluation Technology (Shenzhen) Co., Ltd.; and Chen Xiaodong, Vice President of AutoStreet, shared examples of digitalization and AI applications across the auction value chain.
Applications discussed included the development of fully digital auction platforms, standardized vehicle information systems, AI-powered vehicle inspection, big-data-based vehicle valuation and pricing, and intelligent logistics and vehicle-delivery optimization.
These technologies are reshaping the operating model and service ecosystem of motor vehicle auctions by improving operational efficiency, vehicle-condition transparency, customer experience, and the overall scalability of the industry.
The conference also hosted three parallel forums focusing on used vehicle exports, accident vehicle auctions, and the auction service ecosystem, bringing together industry experts and academics from China and overseas.
At the forum titled “Innovation and Transformation in the Motor Vehicle Auction Service Ecosystem,” Zong Ming, Founder and CEO of The Yoliang Company (parent company of Yoliang Auctions), discussed the challenges facing China’s used vehicle exports, including difficulties in verifying vehicle condition and the complexity of cross-border transactions.
Zong said that Yoliang is focused on improving transaction efficiency through technological innovation and building new forms of productivity for China’s used vehicle circulation industry.
Through products and services including Yoliang Auctions and Yoliang Trade-In, the company has developed an integrated transaction service network designed to provide faster, more efficient, and more trusted vehicle circulation.
Its proprietary technology solutions—including the PowerBid Auction System, Yoliang SmartCheck, Yoliang NewRoute Auction, and PowerBid Dashboard—are designed to support standardized vehicle inspection and evaluation, accelerate transactions, and reduce information barriers in used vehicle circulation.
According to China Automotive News, The Yoliang Company has entered the top three used vehicle auction platforms in China, driven by its technology-focused strategy, and has established relationships with more than 7,000 consignor partners.
Launching a New International Channel for Used Vehicle Exports
The conference also held two signing ceremonies related to the development of a Used Vehicle Export Auction Service Platform—an investment-intent signing and a business cooperation signing.
The initiative officially entered the development phase under the coordination of the Motor Vehicle Auction Professional Committee of the China Association of Auctioneers.
The platform is designed to integrate the credibility and institutional strengths of auctions with the broad reach of the internet and advanced technologies including big data and artificial intelligence.
Its objective is to create broader international channels for high-quality used vehicles from China and establish a transparent, fair, and efficient online marketplace for global used vehicle dealers.
The initiative also aims to establish a nationwide service network for used vehicle exports and develop standardized auction procedures and service systems for cross-border vehicle transactions.
Ultimately, the platform seeks to become an internationally influential used vehicle export auction service platform and create a new channel for China’s automotive industry to expand into global markets.
As a representative of the business partners participating in the initiative, Zong Ming said that The Yoliang Company will apply its established cross-regional auction transaction system and vehicle-condition traceability technologies to the used vehicle export sector.
The company plans to support the development of an integrated export service system covering vehicle inspection, valuation, auction, and related processes, helping Chinese used vehicles reach international markets through standardized auction channels.
Recognizing China’s Leading Motor Vehicle Auction Companies
Based on data from the China Motor Vehicle Auction Market Statistical Annual Report, the conference also released rankings of China’s Top 30 Motor Vehicle Auction Companies by Transaction Volume and Top 30 by Transaction Value for 2024.
The report showed that China’s motor vehicle auction market became increasingly concentrated among leading companies in 2024. The top 30 companies accounted for 95.83% of total transaction volume and 96.94% of total transaction value, contributing to continued improvements in industry specialization and digitalization.
The conference also received support from Qingdao TGOOD New Energy Co., Ltd., a charging-network ecosystem operator. During the event, participants visited the China New Energy Ecosystem Technology Museum at TGOOD’s headquarters to learn about the company’s latest charging-network technologies and integrated ecosystem solutions.
About the Source
This article was originally published by China Automotive News on October 23, 2025. The English version above is translated from the original Chinese-language publication.
Certain content may have been edited or condensed for English-language presentation.
Original publication: China Automotive News, October 23, 2025
Editor: Liu Xiaoye
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