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 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 <3 Years old vehicle and Less than USD 4500 price vehicles driving the used car market in China.
The 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, 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 Years
- 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
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary
Companies Mentioned
- CAR Inc
- Guazi
- Renreche
- Souche
- Uxin Group
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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