As of lately, Chinese used cars are more popular both in China and outside it since the affordability compared to a low quality-value item becomes an advantage for sure — second-hand value is rising. Demand for second-hand cars has boomed in China where more than 17 million were sold last year, up by around 15 percent compared to the previous year. There are plenty of options to be had and rich pickings for buyers willing do a bit more homework than might otherwise required, so it comes as no surprise that the market is expanding so quickly(). This quick expansion solidifies what good value holds in store on Chinese used car lots — but only if you know where and how to dig down deep enough?
Perhaps the most basic reason to buy Chinese used cars is that in terms of price advantage. This compares with the 30 to 50 percent price difference between new and used cars on average in China today. A 2018 Honda Civic which was bought for ¥150,000 in its original glory can now be sourced from the second-hand market Used cars available around ¥80,000 spread wide enough to cater further savings to shoppers. Furthermore, since many of the cars have such low mileage and are still young in their life (age wise!) they offer excellent value for money whilst also performing well!
In reality, Chinese used models are reliable thanks to the availability of well-kept vehicles made by reputable brands. Vehicles like those of the Geely, BYD and Changan are among popular models known for their reliability on roads with low costs of maintenance. In recent years the improvement in three-year reliability ratings of domestic Chinese brands has been relatively fast -- at 15 percentage points over the past five years, while International Brands have improved by only nine. The increase is partly due to this improvement, and that hugely helps the confidence of secondhand car buyers after one with solid reliability.
The course of apathy or the class of choices, in any case. There, every walk of life is touched in some form and talking cars within classes from compact sedans to SUVs meet a myriad array of buyers and budgets. This is something that there are now solutions for thanks to platforms like Autocango, where international buyers browse and order vehicles. These platforms provide comprehensive listings with vehicle pertaining dataset, service history and inspection reports which enables the buyer to make an informed purchase.
In the case of Chinese used cars, this has been amplified even more with the introduction of online marketplaces. Sites like Autohome and Che168 provide search functions that lets buyers sift out cars by price, brand or year of production. This reflects the growing faith in online platforms for purchasing used cars with year on year growth of 25% seen in transactions done online. Furthermore, many of these sites offer certified pre-owned alternatives with warranties to make the buyer more secure in their purchase.
High environmental and economic policies in China play important role on the availability of good condition second-hand cars. The government crackdown on tailpipe emissions and the introduction of electric vehicles (EVs) mean there are a number in classic car terms still fresh rollers around with many owners willing to part ways, if only to make space for an EV. This, in turn, means that the used car market is flooded with slightly newer cars available at very approachable prices. But it is likely to grow even more rapidly in the future as CAAM—I repeat yet again—estimates that at least for a decade or so, until 10 years later after general introduction of private cars and consquent booming sales (I would rather predict maximum five), then market size will be growing year by year with percent change rate around 20%.
In the end, making Chinese used cars export-oriented is conducive to saying that as long as there are business dealings in China any market can receive a portion of everything from economy vehicles up via essentially new near-luxury Chinese-used car products. Therefore, buyers from as far away as Africa, Southeast Asia and Eastern Europe can discover a plethora of Chinese vehicles through platforms like Autocango with their focus on international sales. Such platforms manage logistics, be it shipping and clearance ensuring a hassle free transaction. It is this worldwide presence that has helped Chinese used cars become more popular out of China.
Overall, the price and quality of Chinese cars can be said to have no obvious defects in terms of cost performance ratio. Given the increasing quality in used cars, combined with the convenience of buying over the internet (sometimes via app), there is a considerable way to go for someone on even modest means looking for ultimate dependability and value.