You are here

China's second-hand car market revs up

Uptake comes despite cultural preference for new items
Saturday, April 25, 2015 - 05:50
BT_20150425_DNCARS25_1636453.jpg
SAME OLD BRAND NEW: Last year, used car sales jumped 16.3 per cent to 6.05 million vehicles, according to the China Automobile Dealers Association. In contrast, sales of new vehicles only grew 6.9 per cent.

Beijing

THE vast majority of cars in the world's biggest car market are purchased new, but a second-hand trade is beginning to emerge in China despite traditional buyer reluctance - and foreign manufacturers are hoping to benefit.

In China, one used car is sold for every four new