Change in used car unit sales in China from 2010 to 2020
In 2020, sales of used cars in China grew by about nine percent compared to the previous year.
International used car market
China is the largest automobile market worldwide, both in regard to production and sales. In 2019, the production volume of passenger cars in China had amounted to 21 million units, more than twice the number of Japan, the second largest automotive manufacturer in the world. Furthermore, approximately 25.77 million vehicles had been sold in China that year, nearly seven million more than the sales volume in the United States. Although the used vehicle market in China has been growing steadily, it accounts for merely a small share of the whole automobile market in China. In 2019, the number of used cars sold in China had reached around 15 million units.
Chinese customers for used cars
Chinese customers viewed used cars much less favorably than buyers in developed countries, as newly registered vehicles still outnumbered the used car sales in China. Moreover, Chinese consumers preferred younger second-hand cars. Less than twelve percent of used cars traded in China had been ten years of age or older in 2019, while cheaper second car vehicles seemsed to be more favored.
International used car market
China is the largest automobile market worldwide, both in regard to production and sales. In 2019, the production volume of passenger cars in China had amounted to 21 million units, more than twice the number of Japan, the second largest automotive manufacturer in the world. Furthermore, approximately 25.77 million vehicles had been sold in China that year, nearly seven million more than the sales volume in the United States. Although the used vehicle market in China has been growing steadily, it accounts for merely a small share of the whole automobile market in China. In 2019, the number of used cars sold in China had reached around 15 million units.
Chinese customers for used cars
Chinese customers viewed used cars much less favorably than buyers in developed countries, as newly registered vehicles still outnumbered the used car sales in China. Moreover, Chinese consumers preferred younger second-hand cars. Less than twelve percent of used cars traded in China had been ten years of age or older in 2019, while cheaper second car vehicles seemsed to be more favored.
