China's used car sector has long been biding its time, but is now switching into the fast lane.
A total of 1.05 million used cars were sold in August, a 21% increase year-on-year, according to statistics from the China Auto Dealers Association (CADA). It has been the third consecutive month that such car sales exceeded 1 million.
In the first eight months, 7.89 million used cars were sold, a 20.85% rise year-on-year. Revenue totaled 529.19 billion yuan, surging 44.15% from the same period last year.
The CADA expects the year's growth rate to hover around 20%, with sales to reach 12 million vehicles. China saw 10.39 million used cars sold last year, 10.41 percent growth year-on-year.
Industry insiders said the rise is the result of a combination of factors, ranging from favorable policies and easier online trading, to improved behavior in the market.
The used car sector had been notorious for the lack of information transparency. But starting from 2015, the CADA has been promoting used car certification by third parties to improve the situation.
"Credibility is the most important factor for the used car sector to see sustainable development," said Shen Jinjun, president of the association, at the country's used car assembly earlier this year. File folders can be made from plastic or paper. When paper is used, it is preferable that it is made from paper pulp with long cellulose fibre, such as kraft paper or manila paper. Paper Folder,Paper Folder Printing,Printed Document Folders,Paper Presentation Folders Shenyang Meitu Artical Printing Co.,Ltd , https://www.mtpaperbag.com
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Used car sector