China Used Car Market & Volume Forecast to 2025: Market is Anticipated to Reach $385 Billion

DUBLIN, Oct. 24, 2019 /PRNewswire/ -- The "China Used Car Market & Volume by Types (Sedan, SUV, Micro Van, Trailer, Motorcycle, Others) Vehicle age, Distribution Channels, Region, Pricing, and Companies" report has been added to ResearchAndMarkets.com's offering.

China Used Car Market is anticipated to reach $385 Billion by the end of the year 2025.

China is one of the world's largest auto markets and alone produces more than half of the cars across the globe. China is also the biggest used car market and the largest manufacturer of automobile sector globally. In China, used-cars are sold by Organized Dealers, Unorganized/Independent Dealers, and through online sites like Guazi.com, Uxin Group (xin.com), Renreche (renrenche.com), Souche.com, etc.

China used car market is growing due to the rapid growth of online channels in the industry. Chinese online used-car dealing platforms are increasingly investing in physical retail stores as they seek to improve customer experience on their platforms and improve brand recognition.

East China dominates the used car market in China among South Central China, Northern China, southwest China, North-East China, and northwest China. China has accelerated the development of the automobile industry at a rapid pace and achieved remarkable output with several laws and regulations that supported China used the car market.

China's Ministry of E-Commerce policy such as Administering Automobile Sales, Registering used car sold across provinces and city borders, amending measures that govern the recycling of scrapped vehicles and promoting the so-called "parallel imports" pilot scheme. These policies allowed selected unauthorized dealers to sell imported cars in a bid to rein in high-end car prices.

Sedan and SUV is the most popular used car which was sold in China as more and more Chinese younger generation below 30 years old prefer to buy these two vehicles. As per the study, the China annual SUV used car sales to be triple in the next ten years, as the number of wealthy consumers is increasing year on year.

Chinese people consider buying a used car due to excellent conditions and lower costs and the chance to buy a better model and brand. Because of this, segments like

Market Dynamics

Growth Drivers

• Rise of the Used-Car Dealer
• Purchasing Pattern is Changing

Challenges

• Lack of Integrity
• Lack of Used Car Evaluation Criteria
• Lack of After-Sell Service Systems
• Incomplete Policies and Regulations

Type - China Used Car Volume

In this report, the researchers have done a complete assessment of China used car Market & Volume on the basis of by type of Cars

• Sedan
• SUV
• Micro Van
• Trailer
• Motorcycle
• Others

Vehicle Age - Market & Volume

In this report, the researchers have a complete insight of China used car volume share by vehicle age

• 3 - 10 Years
• >10 Years

Distribution Channel - Market & Volume

This report explains the extensive framework of used car distribution channels, where the reader would get the complete insight of China's demand and supply of used car along with top Organized Dealers/Large Vehicle Market and Unorganized/Independent Dealers. This report also explains the major factors that make Organized Dealers/Large Vehicle Market and Unorganized/Independent Dealers top distribution channels of used cars.

• Organized Dealers/ Large Vehicle Market
• Online
• Unorganized/ Independent Dealers
• Companies Covered

Region - Market & Volume

This report explains the extensive framework of sales, in Chinese regions.

• East China
• South Central China
• Northern China
• South West China
• North East China
• North West China

Pricing Analysis - Volume

The report provides the data of Used Vehicle in China in the below-mentioned prices.

• Less than USD 4500
• Between USD 4500 - 7500
• Between USD 4500 - 12000
• More than USD 12000

Key Players - China Used Car Market

Some of the key players in China used car market are as follows

• Guazi
• Uxin Group (2C and 2B business Segments)
• Renreche
• Souche
• CAR Inc

For more information about this report visit https://www.researchandmarkets.com/r/cnkqz6

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