Sales of Second-Hand Cars to Total 250b

　　According to Beijing Business Today’s reports, second-hand car market will become the last piece of cake for the automotive industry with the development of new car market. However, some analysts expected that the deal size of second-hand cars may rise up to 250 billion yuan, which means that second-hand cars will play an important role in the auto market in 2010 and have great potentials. Recently, Mr. Shen Rong, the Deputy Secretary-General of the China Automobile Dealers Association, said that the China Automobile Dealers Association had submitted a number of advices to the Ministry of Commerce to propel the government to issue some policies aimed at promoting the development of second-hand car market. He also revealed that those policies would be issued in this year, and he expected that the sales of second-hand car market will be higher in 2010.

　　According to the person who is familiar with the second-hand car market, the deal size of the second-hand cars in China totaled more than 148.8 billion in 2009 with an increase of 25.85% over last year. Second-hand car has become a new growth point in auto market. However, China’s second-hand car market is a non-regulated and there is no complete management system.

　　As to the management system, Shen Rong told the Star Daily that in order to standardize the market and enhance the service related to second-hand cars, China Automobile Dealers Association had applied to establish a nationwide unified system to assess the second-hand cars. China Automobile Dealers Association has submitted a report to the Ministry of Commerce about the subsidies offered to second-hand cars in ten cities in China, a program covering 40 markets. Shen Rong pointed out that the details of the report would be released in this year, which will play a positive role in standardizing the market and protecting consumers’ interest.

　　According to the details of second-hand car evaluation criteria which have been disclosed, consumers who buy second-hand cars will not only sign a standard contract text, but also obtain technical notes from the dealership. In the technical notes, all the technical statistics and conditions will be recorded and standardized. If consumers have doubts about the technical notes, they can turn to the independent third-party-the second-hand car rating agencies to evaluate the car and get a report. (Translator: Qinghua/Kevin)

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　　http://auto.sohu.com/20100319/n270936001.shtml