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In recent years, the new car market’s hot market makes the second-hand car industry also have blowout growth. When many people buy a car, they turn their attention to the second-hand car market because of the insufficient budget. Second-hand cars have certain advantages in price, and they don’t have to pay a purchase tax, which makes people spend less money to enjoy the super level.
What is the trend of second-hand car prices and trading volume in China?
1. From 2018 to now, the price of second-hand cars has shown a downward trend, with a range of up to 16%. Among them, the decline in 18 years was higher, more than 10%.
China’s used car price index
2. In recent years, the second-hand car market in China has maintained growth, and the transaction scale has continued to expand. In 2020, the state and local governments will increase efforts to promote automobile consumption, and the introduction of these policies can simultaneously drive the consumption of second-hand cars. It is estimated that in 2020, the trading volume of second-hand cars in China will be nearly 16 million, and the trading amount is expected to exceed 1 billion yuan.
Transaction amount and forecast of second-hand cars in China from 2015 to 2020（Unit: 100 million yuan）
China’s second-hand car export is the only way for China’s automobile industry to develop to a particular stage. Under the changes in prices, policies, processes, resources, and other conditions, it is believed that overseas consumers will increasingly favor China’s second-hand cars.
What are the price advantages of second-hand cars in China?
1. Second-hand cars are affordable. Second-hand cars in China are generally much cheaper than new cars because of depreciation and no purchase tax. The price of second-hand cars of the same brand and model may differ by thousands or even tens of thousands of yuan, so it is very cost-effective to choose second-hand cars.
2. The discount rate for used cars is low. Generally speaking, a new car will depreciate by 20% in one year, 35% in two years, 50% in three years, and the more high-end cars, the higher the discount rate. In contrast, the discount rate for used cars will be relatively low.
3. With the same amount of car model, you can buy a used car with a higher grade than a new car. Compared with new vehicles, the most significant advantage of used cars in China is the price. With the same price, you can buy Chinese second-hand car models with higher configuration, higher level, and even higher-end brands, and also enjoy a higher level of driving feelings and experience than new cars.
China’s second-hand car market
As a new channel for China’s second-hand car export, China’s nice car has a perfect export system, which can truly provide overseas consumers with second-hand cars with quality assurance and price advantage.
China’s second-hand car export prospects:
Countries along the “One Belt One Road Directive” route have a higher demand for second-hand car imports and is expected to form a positive interaction with China. Vietnam, the Philippines, Kampuchea, Burma, and Laos will become the primary export market for used cars in China.
Export of used cars in China
With the convening of all kinds of second-hand car export forums, China’s second-hand car market has been invigorated. Second-hand car dealers have a broader trading market, and consumers have more diverse ways to sell.
China used car export service:
1. Excellent and honest car dealers will occupy a leading position in the used car market because they are reliable, pay attention to and meet the needs of consumers, and provide the best service, quality, and quality assurance.
2. Chinese automobile manufacturers have certain basic conditions in the export of new cars, and the second-hand car business is gradually mature in China. The synchronous development of new and old roads is also a favorable development strategy.
3. Some manufacturers have abundant used car resources.
4. International trade, cross-border e-commerce, financial institutions, logistics and transportation, and other well-known enterprises play an important role in the export service of second-hand cars and provide services in consultation, communication, and even overseas reception.