China’s latest residual-value study for new-energy vehicles (NEVs) has underlined two competing trends: a handful of high-end domestic models are commanding strong short-term resale values, even as the market struggles with generally weak three-year retention rates. The China Automotive Data Research (中汽数研) February 2026 report puts AITO’s M9 at the top of both one-year pure-electric and plug-in hybrid lists, a rare “double champion” that highlights where brands are building defensible demand.
On one-year pure-electric resale, the AITO M9 leads with an 82.1% retention rate, followed by Zeekr 009 at 81.6% and Li Auto’s MEGA at 80.8% — a clear first tier of high-end domestic offerings. Tesla’s Model Y and Model 3 sit fourth and fifth with 79% and 78% respectively, while Xiaomi’s SU7 posts a 76% retention, illustrating that newly launched local premium models can outpace even established foreign names in the short term.
Among one-year plug-in hybrids (including range extenders), the M9 again tops the table at 84.1%, with Great Wall’s Tank series — the 400, 700 and 500 NEVs — filling the next slots and underscoring the strength of domestic marques in the rugged, off-road plug-in niche. The three-year picture shifts: Tesla’s Model X leads three-year pure-electric retention at 61.7%, with Model 3 and Model Y following, while domestic players such as Zeekr 009 and Avita 12 appear among the stronger three-year performers in the new-energy cohort.
Despite those pockets of strength, the report and broader industry data point to a structural problem: three-year retention for NEVs remains markedly lower than for internal-combustion vehicles. Industry figures cited in the piece show 2025 three-year retention of 44.8% for pure electrics and 44.1% for plug-in hybrids, compared with more than 50% for many petrol cars and over 60% for some luxury combustion models.
Analysts attribute the gap to rapid technological churn, high battery-replacement and maintenance costs (batteries account for around 40% of vehicle cost), and aggressive new-car pricing that has sometimes produced price cuts and configurational upgrades so large that new models undercut used prices. Those dynamics not only suppress resale values but also complicate leasing, financing and residual-value forecasting in China’s crucial auto market.
The immediate consequences are practical: weaker resale expectations can raise monthly finance and lease costs, chill demand for used NEVs, and create reputational risks for brands that compete on rapid tech rollout rather than durability and long-term ownership economics. Conversely, the leading domestic models’ resilience in one-year figures suggests that brand building, premium positioning and differentiated product strategies — particularly in high-end EVs and niche plug-in segments — can create a buffer against market-wide depreciation.
What to watch next is whether automakers can stabilise residuals through technological standardisation, stronger battery warranties, swap or second-life battery programmes, and more disciplined pricing strategies. If manufacturers fail to address battery cost structures and the market’s price volatility, the resale-value problem could undermine consumer confidence and slow adoption beyond the entry-level segment.