Analysis of China's Used Car Trading Volume in 2012

With the continued sluggish domestic new car market, used cars have ushered in rapid growth. A few days ago, the reporter learned from the China Automobile Dealers Association that in the first half of this year, the volume of domestic used car transactions and transaction volume have both increased substantially. Among them, the trading volume reached 2,319,900 units, an increase of 18.48% over the same period of last year; the transaction volume was 112.918 billion yuan, a year-on-year increase of 28.17%.

Luo Lei, deputy secretary-general of the China Automobile Dealers Association, believes that the domestic car ownership is increasing, and the used car market will also follow it up. "According to the relationship between the amount of possession and the volume of used car transactions, the volume of used car transactions in 2012 will reach 6.5 million units, with an increase rate of about 20%," said Luo Lei.

From January to June, the sales volume of basic passenger cars was 1,287,300, an increase of 24.9% year-on-year, and the transaction volume was 66.006 billion yuan; the sales volume of passenger cars was 376,400, an increase of 23.41% year-on-year, and the transaction volume was 14.973 billion yuan; the sales volume of trucks was 335,500 units, an increase of 10.14% over the previous year, with a transaction volume of 13.574 billion yuan; sales volume of off-road vehicles was 45,900 units, an increase of 37.41% year-on-year, with a transaction volume of 7.442 billion yuan.

Although the growth momentum was good in the first half of the year, sales of used cars in the country declined in June. Data show that in June the used-car trade was 399,200 units, down 4.1% from May; the transaction volume was 18.967 billion yuan, down 4.7% from May. However, compared with the same period of last year, it showed a certain degree of growth, with a year-on-year increase of 4.23%.

Judging from the transactions of used cars in all regions of the country, in addition to the 5.83% increase in North China, there was a decline in other regions in June. Among them, the central and southern regions and the East China region accounted for the largest proportion of national trading volume, reaching 110,300 vehicles and 112,000 vehicles respectively.