Beijing’s Second Hand Car Market Picks Up

Industry News | FrankF | February 14, 2012 at 10:03 pm

Want to buy a car in Beijing? You’d better win the license plate lottery. Want to sell your car in Beijing? You’d better be able to transfer your existing car to a new title, or you’re out of luck. The Municiple Government limited new car sales in Beijing to just 20,000 units per month at the start of 2011 which suffocated the new car market and all but extinguished the second hand market, but according to media reports the second hand market is slowly improving thanks to non Beijing residents.

Non Beijing residents are apparently happy to go to Beijing’s multiple second hand car centers to buy up cars that Beijing’ers no longer want and take them to other provinces for resale. Second hand car sales in the first month of 2012 have been reportedly slow due to the Chinese new year effect but second hand car merchants are confident that the market will pick up in the second month and with the arrival of warmer weather.

FrankF

Frank entered the automotive industry via his father's instructions. He grew up with cars around him, especially as his father was a major auto restorer, Frank's childhood was spent passing beers, tools and coffee to his father whilst he explained the ins and outs of engines. Frank now works in the Chinese car industry at a specific manufacturer.