SUBSCRIBERS
China's second-hand car market revs up
Uptake comes despite cultural preference for new items
Published Fri, Apr 24, 2015 · 09:50 PM
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 vehicles, the opposite of Europe and the US, where around three used cars are sold to every new one.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US