Second-hand Vehicle Posts A 29.11% Rise in Sales
2009-07-23 Source：internet
Summarize："From January to April, the second hand vehicle transaction was growing remarkably. The total transaction volume of 31 provinces, regions and cities was 978,900 sets, up 29.11 percent year on year. Th ...
English.chinabuses.com:"From January to April, the second hand vehicle transaction was growing remarkably. The total transaction volume of 31 provinces, regions and cities was 978,900 sets, up 29.11 percent year on year. The cumulative transaction value was RMB42.603 billion yuan, increasing by 32.13 percent year on year". The data released by China Automobile Dealers Association in June has reflects the lively second hand vehicle market in the first four months in some extent.
As far as the transaction volume is concerned, the total sales volume of the first four months grew by 29.11 percent in comparison with the same period of last year, and it was taking on a month-by-month increasing trend. When talking about the figure, Luo Lei, Deputy Secretary-General of China Automobile Dealers Association, is quite calm, "according to my experience, the transaction volume of second hand vehicles has something to do with sales of new vehicles. Conventionally, when the sales quantity of new vehicles grows, the second hand vehicle transaction will show a growing trend, and it will grow faster". Data issued by China Association of Automobile Manufacturers reflects that the cumulative sales of new vehicles from January to April inclined by 9.43 percent over the same period of last year. Thus it is not surprising at all that the increase of second hand vehicle sales is 29.11 percent. Luo Lei analyzed that auto market had met some trouble in the second half of last year, it affected consumer confidence and the transaction of second hand vehicles went down. But this year, the State issued a series of favorable policies in succession, which played a key role in shoring up consumer confidence."Consumers replaced their vehicles or purchased vehicles as they want, the supply and demand relation of second hand vehicle market returned to normal, and therefore active transaction status emerged."
According to the statistics of China Automobile Dealers Association, the transaction volume of basic passenger vehicle, coach and truck all increased from January to April, in which the growth of truck was the most dramatic. For one thing, the increase rate was as high as 44.61 percent, for another, the proportion of second hand truck among all second hand vehicles was increased to 18.16 percent; this figure was 15.8 percent from January to April of 2008. "Last year, the second hand vehicle transaction once saw a decrease on monthly basis, the fast growth from January to April of this year could be regarded as a rebounding, it to some extent means the recovery of the market". Luo Lei said that the second hand trucks are mostly used as means of production, thus its sales volume often rests with people's anticipation of the economic trend. Compared with new ones, second vehicle truck has a lower price, and it means lower cost for producers. When there is demand, the second hand truck transaction will turn flourishing. Automobile dealers association also predicts that it will become the new growth point of second hand vehicle market this year.
In addition, the growth of transaction value also manifested the activity of second hand vehicles. Data shows that the sales value of second hand vehicle went up by 32.13 percent year on year in the first four months, higher than the growth rate of transaction volume. China Automobile Dealers Association reckons that one of the reasons of transaction price increase is demand beyond supply. Luo Lei memorized that once after the Spring Festival, the second hand vehicle supply was in shortage; some types especially low emission second hand vehicles were sold quite well, sometimes buyers even needed to book vehicles in advance. At the same time, Luo Lei analyzed that the sharp increase of transaction value to some extent indicated that the vehicle transaction structure had been changed, which is also because that more and more high class vehicles enter into the market.
A mature auto market is consisted of both new vehicle market and second hand vehicle market. The sales of new vehicles offers sufficient supply for second hand vehicle market, and the flourishing of second hand vehicle market lowers the level of automobile consumption and activates the potential demand of the market, which could in exchange promote sales of new vehicles. The importance of second hand vehicles goes without saying. The series of favorable policies issued this year have shown concern on China's second hand vehicle market. Luo Lei believes that it will not be a problem for China's second hand vehicle market to obtain two-digit increase, and there will be more stimulation to the market along with the issuance of more policies in favor of second hand vehicle market.
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