The cumulative transaction volume in the first half of the year increased by 33.1% year-on-year. According to the Xinhua News Agency, the domestic automobile ownership has increased rapidly, and the used car market in China has continued to expand. According to the information from the Ministry of Commerce, in the first half of this year, China accumulated a total of 647,000 used vehicles, an increase of 33.1% year-on-year, and the growth rate exceeded the growth rate of new vehicles by 24.15% for the first time, which was nearly 9 percentage points higher. According to statistics from the China Federation of Logistics and Purchasing on 215 old motor vehicle trading centers (markets) in the country, 150,000 heavy-duty trucks were used in the first half of the year, an increase of 35.1%; passenger cars were 167,900, an increase of 48.41%; 221,000 vehicles, an increase of 32.56%. Judging from the volume of regional transactions, Guangdong, Shanghai, Shandong, Beijing, and Yunnan are among the top five. Analysts from the Ministry of Commerce said that many domestic consumers who purchased private cars are interested in changing cars in the near future and will provide more vehicles for the used car market. There are also many first-time buyers who are interested in buying a cheap used car. This trend will lead to faster development of the used car market in China. According to the statistics of the China Association of Automobile Manufacturers, in the first half of this year, China sold a total of 2.536 million new types of new cars. In the first half of the year, the volume of second-hand cars accounted for about one-fourth of the volume of new cars, which is far lower than the ratio of second-hand car transactions in developed countries to the total sales of cars.
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