The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
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 anticipated to reach 385 Billion by the end of the year 2025.
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 with the rapid pace and achieved remarkable output with several laws and regulation that supported China used 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 our 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 condition and lower cost and the chance to buy a better model and brand. Because of this, segments like <3 Years old vehicle and Less than USD 4500 price vehicles driving the used car market in China.
Renub Research report titled “China Used Car Market & Volume, and Volume by Types (Sedan, SUV, Micro Van, Trailer, Motorcycle, and Others), Market & Volume by Vehicle age (<3 Years, 3 - 10 Years, and >10 Years), Market & Volume by Distribution Channels (Organized Dealers / Large Vehicle Market, Online, and Unorganized / Independent Dealers), Market & Volume by Region (East China, South Central China, Northern China, South West China, North East China, North West China), Volume by Pricing (Less than USD 4500, Between USD 4500 - 7500, Between USD 4500 - 12000, and More than USD 12000), by Company (Guazi , Uxin Group (2C and 2B business Segments), Renreche, Souche, and CAR Inc)” provides a complete analysis of China Used Care Market.
Type - China Used Car Volume
In this report, we have done a complete assessment of China used car Market & Volume on the basis of by type of Cars
- Micro Van
Vehicle Age - Market & Volume
In this report, we have a complete insight of China used car volume share by vehicle age
- <3 Years
- 3 - 10 Years
- >10 Years
Distribution Channel - Market & Volume
This report explains the extensive framework of used car distribution channels, where reader would get the complete insight of China 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 car.
- Organized Dealers/ Large Vehicle Market
- 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
- Uxin Group (2C and 2B business Segments)
- Renreche, Souche
- CAR Inc