CX Daily: China’s Used-Car Dealers Face a Bumpy Ride as Price Wars Intensify

Used cars /

In Depth: China’s used-car dealers face a bumpy ride as price wars intensify

China’s second-hand car market is growing rapidly as more motorists take to the road. Industry players have little to celebrate, however, as the fledgling sector is still like the Wild West while profit margins are shrinking.

Some 16.26 million vehicles changed hands in China during the first half of this year, half as many again as the same period in 2023. Sales of used cars grew 7% year-on-year to 9.38 million, while 9.84 million new passenger vehicles were sold, according to the China Automobile Dealers Association (CADA).