Published on : Nov 07, 2019
Albany, New York, November 7, 2019: Used car market in China has undergone developments under support of series policy. Used car market has accommodated new changes such as structure optimization in order to scale its trade. This market has transformed from being the subordinate to becoming the dominant area in China’s auto sector.
Boom in used car market is the outcome of various factors that include blooming auto market, rapid GDP growth and policy support. China’s auto market is growing rapidly which has increased the civil cars population. Chinese economic development and increase in people’s income positively influences auto market development.
An intelligence report titled, “China Used Car Market & Volume by Types (Sedan, SUV, Micro Van, Trailer, Motorcycle, Others) Vehicle age, Distribution Channels, Region, Pricing, Company” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository
Frequent purchase boosts used cars sale
Government policies also drive the growth of used cars market in China. Administrative measures allow OEM-authorized auto dealers to run their used-car business which automatically amps up the competitive landscape of used cars market. These measures regulate different components including trading markets, agents and operators to strengthen administration in used cars landscape. Chinese state council proposed Auto Industry Revitalization Plan to establish standard evaluation system and temporary ownership registration system. This plan adjusts tax rate on transactions associated with used cars and boosts vehicle replacement programs by encouraging dealers’ participation.
Changing consumer pattern also influences used car sales. Chinese car owners change their cars every few years which brings used cars in picture as affordable options. Barely used cars attract buyers and wealthy individuals who want to own multiple cars. Consumers who own a car as status symbol and the medium-income first time purchasers form two major customer segments of used cars market in China.
Major car types in used car market include sedan, micro van, motorcycle, SUV and trailer. Distribution network of used cars market is composed of different channels that include organized dealers, unorganized dealers and online.
China used car market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the China used car market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the China used car market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on China used car market.
An insightful and deep-dive assessment of the competitive assessment of the China used car market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the China used car market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
China used car market: Research Methodology
Primary sources and secondary sources propel intelligence report on China used car market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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