Questioning AI · How does the trend of bottom-fishing for unfinished cars reflect young consumers’ car-buying dilemmas?

The first batch of young people rushing to grab unfinished cars has already tasted the bitter fruit.

“I bought a 2023 model Nezha X. Last month, I experienced a power battery failure while driving. The vehicle was taken to the Nezha Auto Experience Center for inspection and repair, but after multiple negotiations with the staff, nothing was resolved. A month has passed, and there are still no parts for repair,” said Mr. Wang, a Nezha owner, about his repair experience. He added, “Nezha cars are tempting for bargain hunters, but repairs are difficult.”

In fact, many owners have similar experiences. Another Nezha owner from Jiangsu expressed frustration about repairs: “In February, I was rear-ended. Since there was no 4S shop nearby, I had to find a random auto repair shop for damage assessment and repairs. The repairs weren’t a problem, but the replacement parts had long lead times, so it took over four days to fix. Plus, the paint wasn’t original, so there’s some color mismatch, and I had to accept it.”

In common parlance, unfinished cars refer to vehicles from manufacturers that have ceased production, gone bankrupt, or shut down.

Recently, Yicai News learned that due to concerns over the residual value of new energy vehicles and the “super low cost-performance ratio” of unfinished cars, a group of used car dealers and young buyers willing to spend money have emerged in the market. The phenomenon of grabbing unfinished cars has spread across brands like Nezha, Jiyue, and GAC Aion, with buyers mostly aged 25 to 35.

However, issues such as longer waiting times for parts, higher replacement costs, and color mismatches due to non-original paint also trouble these owners.

Popular Unfinished Cars

“Over the past 20 days, we listed a 2021 Nezha V used car with only 17,700 km on the odometer, priced at just 38,800 yuan. The official new car price was 69,900 yuan, so it’s about 56% off,” said Wang Lei (pseudonym), a used car dealer in Guangzhou, in mid-March. He noted that the dealership rarely handles Nezha cars—only this one in the past three months—but after acquiring it, he found it very popular, with over 30 potential buyers interested.

“Not just young consumers—middle-aged buyers in their 30s also consider these high-value, low-price cars,” Wang Lei said. “As long as they don’t mind longer after-sales repair wait times, these unfinished cars are suitable for daily commuting.”

Another dealer, Li Liang, told reporters that many Nezha owners rushed to sell their cars before the company went bankrupt, often making a few thousand yuan profit. “When owners bought the cars, they got discounts, and we can buy them back for around 30,000 yuan. Nezha’s used cars are still popular overseas, especially in Southeast Asia.”

Yicai News found that on various social media and online shopping platforms, used and nearly new cars from brands like Nezha, GAC Aion, and Jiyue still attract significant attention. Buyer Li Fei said he liked GAC Aion’s Wing Door design, but the official price used to be as high as 300,000 yuan, which he couldn’t afford. Now, second-hand GAC Aion cars sell for 100,000 to 130,000 yuan, fitting his 150,000 yuan budget.

Meanwhile, the low residual value of new energy vehicles is also a reason for buyers to hunt for unfinished cars. According to data from the China Automobile Circulation Association, as of February 2026, only 7 electric vehicle models with one year of age had a residual value above 75%, and only 2 models with three years of age exceeded 60%.

Li Liang explained, “The pace of new energy vehicle updates is much faster than traditional fuel cars, and with fierce market competition, most new energy cars depreciate as soon as they leave the dealership. The one-year residual value is about 70%. Plus, the materials in unfinished cars aren’t necessarily poor, so young buyers with limited budgets are eager to buy.”

Regarding the rising trend of young people bottom-fishing for unfinished cars, Yang Yueqing, former project director at GAC Aion, said this phenomenon appears to be a form of consumption downgrade but isn’t “junk buying.” He explained, “A car that originally cost hundreds of thousands of yuan can now be bought for just over ten thousand. Buyers are getting top-tier batteries from CATL, Qualcomm chips, steel-aluminum hybrid bodies, solid chassis… all of which used to be out of reach. The logic is that consumers want top hardware at rock-bottom prices, so they take risks on products that might not last long but are dazzling today or yesterday.”

Li Yanwei, an expert member of the China Automobile Circulation Association, said that young consumers’ interest in buying unfinished cars stems from their demand for technology and quality, but their limited budgets lead them to choose these options.

However, the potential risks of buying unfinished cars—such as difficulty sourcing parts—remain.

Owners Facing “Hard-to-Find Parts”

Data shows that brands like Nezha, Jiyue, and GAC Aion have sold over 500,000 vehicles combined. This means that after these companies cease production or face financial difficulties, over 500,000 owners face unresolved after-sales issues. These companies have gradually set up repair and inspection centers or enlisted core shareholders to assist with after-sales problems. But in reality, since repairs are often not authorized by the original manufacturer, many owners complain about repair difficulties.

Besides the two Nezha owners mentioned earlier, owners of Jiyue and GAC Aion also face similar repair challenges. A review of complaints on platforms like Car Quality Network and Black Cat Complaint shows that from 2025 to now, these three brands have received over 50 complaints mainly about lack of parts, system failures, and battery issues. Particularly, some owners report waiting 3 to 4 months for parts that never arrive, with the dealer claiming they are waiting for factory shipments.

Yang Yueqing noted that consumers considering buying cars from bankrupt or shut-down manufacturers should consider three conditions: first, they must really like the unfinished car and have spare funds; second, they must accept that the vehicle’s system cannot be upgraded and that after-sales service may be slow with limited parts; third, they should be psychologically prepared for the vehicle possibly becoming scrap at any time.

He added that if consumers seek peace of mind and stable after-sales, buying unfinished cars is not recommended. Every penny saved today could cost them double in future repair, insurance, or scrapping costs.

He Hanying, partner at Guangdong Hongli Law Firm, said that even if the purchase contract does not explicitly include after-sales services, consumers usually assume the vehicle price covers such guarantees, which are not separately itemized. If the manufacturer goes bankrupt, promised services become impossible to fulfill. Therefore, consumers should carefully evaluate the manufacturer’s financial health and long-term capacity to honor after-sales commitments.

He Hanying also pointed out that even if the contract specifies services, after a manufacturer’s bankruptcy, enforcement becomes complex and lengthy, often with limited practical effect. Consumers should be mentally prepared for this.

He suggested that industry associations establish mechanisms like a “Vehicle Maintenance Guarantee Fund”: when a manufacturer goes bankrupt, the fund could cover part of repair and warranty costs proportionally, reducing long-term risks and better protecting consumers’ rights.

(From Yicai News)