China is about to become the world’s largest used car market

Dow Jones reported that China has surpassed the United States to become the world's largest new car sales market after experiencing rapid growth after 10 years, and now China's used car sales market is also increasingly active. In the short term, China is expected to become the world's largest used car sales market. The report said that in order to deal with the upsurge in used car sales, several major auto giants have begun to cover up in China, and dealers of many brands have started to use second-hand cars.

The report said that the automobile industry in China is still a relatively new industry. It takes only a few years for the car to enter the Chinese ordinary people's family. Therefore, there are currently not many used cars in the Chinese market. However, with the increase in replacement demand, a large number of second-hand cars will soon flow into the market. The article said that at present, the used car market in China is still not a climate, and most of the used car market is traded in open space or even abandoned sports stadiums. Even high-end luxury cars do not enjoy the higher specifications in the used car market.

Daimler AG's Mercedes-Benz expects China's second-hand transaction volume to climb to 4.1 million vehicles this year, an increase of 7% compared to last year. Affected by regulatory policies, new car sales in China have fallen this year.

Dow Jones reports that many international auto giants, including Daimler and Nissan Volkswagen, are adjusting their marketing strategies. The dealers of these brands have already delayed the sales and use of used cars. In order to allow consumers to feel comfortable buying used cars, many international big brands of car dealers are beginning to provide maintenance and accessories guarantees for used cars under their own doors.

The active use of the used car market has changed the behavior of some consumers. The 37-year-old Cui Yunding recently purchased a second-hand Nissan Livina at Shenzhen Nanhua Industrial Park. This is already the fourth used car he purchased. He disclosed that the car spent 86,000 yuan, enough to buy a new domestic car of the same level. However, he said that compared to domestic brands, the use of second-hand cars by international big brands is more reassuring.