May 10, 2019 (China Knowledge) - According to statement from Ministry of Commerce, Chinese cities get the green light to export second-hand cars to global markets.
The following regions are the first batch allowed to conduct used vehicles export: Beijing, Shanghai, Chengdu, Jining and Qingdao in Shandong province, Taizhou in Zhejiang province, Xi’an in Shanxi province, Xiamen in Fujian province and Guangdong province.
Last year, about 13.82 million used cars were traded in China, less than half of the new vehicles sold. This trading volume is about twice the size of new car sales volume in developed countries. The statement said that the opening of second-hand cars export market has huge growth potential.
Analyst that should the market is fully opened up, the potential used car exports value is estimated about RMB 60 bln. Automobile after-service, auto parts exports and maintenance service exports will also receive benefits as well.
Earlier in late April, the Ministry released guidelines requiring the development of sound inspection and after-sales services for second-hard car exports. Ministry of Public Security and the General Administration of Customs are due to work with them to improve regulations and services to support the auto industry.
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