Latest News:  


2nd-hand car trade slows but market set to boom

By Li Fangfang  (China Daily)

16:41, January 05, 2013

The year-on-year growth of China's second-hand car trade slowed in the first 11 months to 11.71 percent from the more than 20 percent seen at the beginning of 2012, making the full-year target of 5 million units impossible to achieve, industry insiders said.

However, Shen Rong, deputy secretary-general of the China Automobile Dealers Association, said that despite the lackluster figures in 2012, he believes that the second-hand vehicle market is set to boom in 2013.

"It's almost impossible for China to achieve its target of trading 5 million second-hand vehicles in 2012, as monthly sales have been stagnant since May," said Shen.

"The stagnant market, as well as the heavy price cuts dealers made to promote brand-new vehicles, caused a price war in the second-hand car market."

Backed by a surge in sales at the beginning of 2012, total second-hand vehicle sales in the first 11 months increased 11.71 percent to 4.31 million units, and trade revenue increased 28.71 percent from a year earlier to 232.47 billion yuan ($36.89 billion).

In November, 436,400 second-hand cars were traded in China, 11.51 percent more than in October. However, total trade revenue was down 4.17 percent from the previous month to 22.89 billion yuan.

"The downtrend of second-hand vehicle sales in the second half was similar to the one seen in the new-vehicle market, which is entering a restructuring period," said Shen.

【1】 【2】

We recommend:

Mainland, Taiwan airlines sign co-op contract

Great changes in Zhengzhou railway station

Wanda Group ventures onto the global stage

Sports car makers look to mainland market

Top Ten Economic Events in 2012

'Gold road' laid with gold bars

Email|Print|Comments(Editor:马茜、Liang Jun)

Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. NBC emergency rescue team

  2. Anti-terror exercise conducted in S. Korea

  3. Finalists in Sydney to compete for Best Jobs

  4. Girl travels 16 hours to save wounded eye

  5. Percussion shows me the world

  6. No quick way
    to a job

  7. Nanhaizi Park: An ecological garden

  8. Most beautiful Chinese celebs

  9. HK's new terminal receives luxury liner

  10. Hilton to open 120 new hotels in China

Most Popular


  1. Whistleblower welcome in China
  2. Chinese brands in global marketplace set to grow
  3. Surveillance programs reveal U.S. hypocrisy
  4. People's Daily urges safety after deadly accidents
  5. Equities slump amid slow-growth estimates
  6. World owes Snowden debt of gratitude
  7. Male teachers needed at Chinese kindergartens
  8. Hard times for air pollution
  9. Road ahead for China's food safety
  10. Showdown of China's Big Three cities

What’s happening in China

Developer razes historic Guangzhou structures

  1. 1 dead in NE China construction site accident
  2. Beijing set to rein dangerous dogs
  3. Quest for 2nd child exposes couple’s private life
  4. 'Alien' buster turns out to be a faker
  5. Japanese citizens detained for fraud, murder