2006 used-car sales top 1.9 m

According to statistic from China Automobile Dealers Association, China used-car sales increased by 31.5% to 1,905,900 units this year, the third consecutive year for the used-car sales increasing rate exceeding that of newly-launched models.

China used-car sales increasing rate was 6.27 percent higher than that of new models in 2006, but total sales of used-car only correspond to 26.4% of new model sales. Sales of used-car amount to 42.5 million units compared with 16,5 million new car sales in the US, the world largest auto market; used-car sales in Japan maintains at 8 million units in recent years compared with 6 million units new car sales.

The number of cars in use in China is relatively low, which only equal to 1/5 or 1/6 of the world average. Auto sales have seen rapid growth since its entry into WTO and have become the second largest new model consuming market and third largest auto manufacturing market.

China used-car trade had a history of nearly 20 years, but the industry hasn't witness much progress. Statistics show 360,000 used-trucks and 453,300 used-buses were sold in 2006, and sales of used-sedans were 819,300 units.