Li Auto, Xiaomi and Tesla held the strongest one-year residual values among China’s new-energy vehicle (NEV) brands in June, each retaining more than 80.0% of the price paid, according to a monthly tracking study by Chinese consultancy LandRoads.
AITO recorded the steepest fall of any brand monitored. Voyah posted the largest gain.
The study covers mainstream brands and models priced above 150,000 yuan, in good condition and roughly one year old.
LandRoads defines residual value as the used-car transaction price divided by the new-car transaction price paid at purchase.
Discounting Separates the Field
A parallel LandRoads price comparison points to why the rankings diverge so widely.
Xiaomi and Tesla sold every model in the sample at their official list prices in June.
The Xiaomi SU7 changed hands new at 215,900 yuan and the Tesla Model Y at 263,500 yuan, each matching its sticker price exactly.
Legacy premium brands discounted heavily.
The BMW i3 lists at 353,900 yuan but sold new at 202,900 yuan, a reduction of 42.7%. The Audi Q4 e-tron went for 206,800 yuan against a list price of 317,100 yuan, or 34.8% below.
Both brands sat near the bottom of the residual table. BMW fell 4.6 points to 71.9 and FAW-Audi dropped 3.7 points to 65.4.
Considerable new-car discounts reset the price a used buyer compares against, leaving less room for an older car to hold value.
However, the connection is not absolute as Li Auto topped the residual table while still discounting its range.
The L6 lists at 279,800 yuan and sold new at 246,800 yuan in June, or 11.8% below, and the L9 went for 389,800 yuan against a 439,800-yuan list price.
Both figures are far shallower than the German cuts.
AITO Falls on M8 Supply
AITO‘s brand-wide residual value fell 4.8 points to 76.5 in June, from 81.3 in May.
LandRoads attributed the drop to a rise in used supply of the M8. End-market promotions on the model, combined with an imminent facelift, have weighed on prices for the outgoing version.
The M8 remains among the most expensive vehicles in the sample.
The extended-range Ultra six-seat version lists at 449,800 yuan and sold new at 439,800 yuan in June, with used examples at 349,800 yuan.
Voyah and Nio Rebound
Voyah recorded the sharpest improvement, climbing 8.8 points to 74.3 from 65.6 in May. The brand had stood at 62.4 in April.
The Shanghai-headquartered premium brand Nio rose 5.4 points to 69.0. The consultancy linked the improvement to the new ES8 beginning to reach the used market.
Both moves reflect a shift in the mix of cars being resold rather than a broad revaluation of either brand’s fleet.
Nio‘s third-generation ES8 carried no new-car discount in June, listing and transacting at 338,800 yuan, with used examples at 286,900 yuan.
The latest generation of the three-row SUV was launched in September 2025, with a five-seat version now reaching the first customers.
Older Nio models tell a different story. The 2024 ET5 Touring lists at 228,000 yuan but sold new at 171,600 yuan in June, a cut of 24.7%, with used cars at 141,600 yuan.
Onvo, Nio‘s mainstream sub-brand, moved the other way. The marque fell 3.4 points to 78.2.
LandRoads notes that its Nio and Onvo samples consist almost entirely of cars bought under battery-as-a-service subscriptions, matching the mix on the new-car side.
The readings are therefore not directly comparable with brands whose buyers own the battery outright.
The Worth-Buying Index
LandRoads also publishes a second measure, which it calls a used-car worth-buying index. The gauge is expressed as a percentage, and higher readings indicate a wider price advantage for the used car over an equivalent new one.
IM Motors topped that ranking in June with a reading of 148, the widest gap in the study.
Traditional premium brands again clustered near the top. BMW read 143, Mercedes-Benz 140 and FAW-Audi 138.
Li Auto sat at the bottom on 114, the lowest of any brand monitored. On that measure its used cars look comparatively expensive, making a new purchase the better value.
Voyah’s index fell sharply to 116, narrowing the discount its used cars carry against new ones.
The two measures move in opposite directions by design. A high residual value favours the owner selling the car. A high worth-buying index favours the used buyer, and implies weaker pricing power on the new-car side.
Reading the Data
LandRoads cautions that its price comparison captures a single moment in time. The table cannot be used to calculate residual values, because those must be measured against the price a buyer actually paid when the car was new.
The monthly changes published compare June with May, rather than spanning the full three-month window shown.
In the June table, BYD‘s sub-brand Fangchengbao slipped 0.5 points to 77.3 and XPeng fell 3.1 points to 71.8. Zeekr also declined 3.1 points, to 71.6, while Avatr eased 0.7 points to 69.7.
Mercedes-Benz gained 3.0 points to 68.5 after a steep fall in May. Luxeed rose 1.5 points to 68.7, IM Motors dropped 3.5 points to 68.0 and Maextro was flat at 64.0.
