China Used Car E-Commerce Sector Moves to Fast Development Stage, Says CRI in Its Report Now Available at MarketPublishers.com12 Aug 2016 • by Natalie Aster
LONDON – The average unit cost of used cars in China surged from USD 4.5 thousand in 2005 to around USD 9.05 thousand in 2015 with the economic growth and the rise of car class in the country. Starting from 2009, in volume terms, the sales of novel cars in the country reached close to 24.6 million in 2015, remaining highest worldwide. By 2015-end, the vehicle reserve surpassed the 170 million mark in the country. The profit of novel cars decreases considerably with the sluggish growth pace of sales volume. Being faced with the tremendous car stock marketplace, the practitioners and government vigorously are focused on developing trades of used cars.
Being currently at an initial phase, the market for used car e-commerce is moving to a period of fast development. The industry is characterised by low penetration rate amid high trading volume, release volume and rate. The buyer's market remains at the initial phase of increasing user bases, where the industry chain is not fully mature and different parties are in competition for car sources. A number of e-commerce platforms are devising novel commercial methods and bringing into being their personal industry ecosystem of used cars to release products and financial businesses with a view to profit.
The volume of used cars trading on e-commerce platforms stood at around 1 million as of 2015, capturing just nearly 11% of the total in China, which indicates that the market holds huge potential.
In-demand report “Used Car E-Commerce Industry Overview in China, 2011-2020” created by CRI is a trustworthy source of information on the current situation in the market. The study provides the definition and classification of used car e-commerce platforms; canvasses the development environment of used car e-commerce; analyses the competitive degree in the industry; evaluates key growth opportunities and drivers the industry is facing; pinpoints risks and challenges pertaining to the national used car e-commerce industry; an all-round analysis on costs of used car e-commerce industry in the country. The report examines the industry competitive scenario, offers detailed profiles of the 5 leading used car e-commerce companies in China. Furthermore, report gives insights into the development path of China’s used car e-commerce industry.
For more comprehensive publications by the publisher visit CRI page.