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China's Second-Hand Car Export Industry Shows Late-Blooming Advantages

2023-10-23
Latest company news about China's Second-Hand Car Export Industry Shows Late-Blooming Advantages

China's second-hand car export industry has recently witnessed a rapid growth. In 2019, the Ministry of Commerce, Ministry of Public Security, and General Administration of Customs released the "Notice on Supporting the Launch of Second-Hand Car Export Business in Conditions Maturing Areas", officially starting China's second-hand car export business. In the first three quarters of 2023, China's second-hand car transactions reached 13.49 million vehicles, a year-on-year increase of 12.61%.

 

According to the China Automobile Dealers Association, China's second-hand car exports have shown a robust growth in overseas markets. The demand from countries such as Central Asia, the Middle East, Africa, Eastern Europe, Southeast Asia, and Latin America remains high.

China's second-hand car export products are diverse, including both mileage-producing used cars and mileage-free parallel cars, as well as new energy and fuel vehicles. Parallel cars and new energy vehicles account for a larger proportion, but fuel cars and used cars also have specific markets.

 

Moreover, the export of second-hand cars is closely related to the financial industry. The construction of overseas warehouses, overseas investment in factories, and overseas customer credit loans all require capital intervention.

 

In 2021, Chongqing cppcc member Jian Qian wrote a proposal titled "Proposals to Promote the Establishment of a Second-Hand Car Export Base Focusing on the ASEAN Market", calling for the full play of the western land and sea new passage advantages, improving service systems, and promoting data online and industrial interconnection.

 

This has received industry support. In September 2023, Ruicheng Auto, Changan Automobile, Chang'an Minsheng and other 10 enterprises reached a consensus on cooperation to establish the first strategic alliance of second-hand car export enterprises in the southwest region to build a second-hand car export and refurbishing industrial park.

 

How can China seize the "late-blooming advantages" in the development of the second-hand car export industry?

 

In terms of foreign exchange settlement and tax refund for second-hand car exports, further process optimization and efficiency acceleration are needed. "In addition, the export of used cars accounts for a relatively small proportion." The lack of standard procedures and standardized inspection agencies has made it difficult to expand the export of used cars. It is urgent to establish relevant standards to promote the export of used cars.

 

In addition, the overseas after-sales service for second-hand car exports has mainly relied on automobile manufacturers and dealers' after-sales service stations. In the future, with the growth of second-hand car exports, both domestic and foreign companies may focus on after-sales service and expand their industry chain to seize new opportunities.