Shulou(Shulou.com)11/24 Report--

According to CTOnews.com news on October 23, Cui Dongshu, secretary general of the passenger car Association (Joint passenger car Market Information Association), posted through his official account that China's used car market has great potential for development. By the end of September 2023, the number of cars in China had exceeded 330 million, with 18.21 million new energy vehicles; 480 million people had driver's licenses, and 150 million people had no car.

Cui Dongshu said that compared with the international advanced developed countries, the transaction proportion of used cars in China is relatively low, while China's automobile market starts relatively late, and the consumption of used cars starts even later. at present, used cars are in the stage of rapid rise, and the potential for future development is extremely huge. In particular, with the development of new energy vehicles, more and more ordinary consumers in China have the advantage of low cost of buying and using cars. with the implementation of the policy of separate endorsement of used cars, the used car business of automobile dealer groups will flourish. China's used cars have great potential for development.

▲ figure source Cui Dongshu official account CTOnews.com found that according to the statistics released by Cui Dongshu, the secondary new car trading performance of used cars is strong, which is mainly due to the composition of new energy vehicles becoming used cars. At present, the transaction structure of used cars has grown more prominently in less than three years, accounting for 28% of the total. The proportion reached 44% in 3-6 years, both of which are relatively high, that is to say, 73% of used cars within six years, while only 27% of used cars over seven years.

Cui Dongshu believes that at present, the transaction of old vehicles of middle and high age is not particularly frequent, and with the continuous improvement of the technology of automobile products, the vehicle quality guarantee of high-age products is getting better and better, and there is also great potential for the development of such middle-and old-age vehicles in the future.

Tuyuan Pixabay in addition, due to the short development time in China's car market, the age of second-hand car transactions in relatively mature countries is relatively short. China's 3-5-year-old used cars and 1-3-year used car transactions account for a relatively high proportion, while most of the used cars traded in the United States and other developed countries are more than 5 years, especially used cars over 8 years are relatively high in France and Japan.

Related readings:

Cui Dongshu: sales of used cars reached 11.9 million from January to August, an increase of 13% over the same period last year.

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