The demand of second-hand car will be higher than new car in 2015

The orders of Beijing second-hand cars in 2014 were 705,600, increasing by 1.61% totally, which were 160,000 more than sales volume of new cars. As the data from the biggest second-hand car trading market, there were totally 440,000 orders in that market, occupying 73% of total orders in Beijing. The data shows the usage rate of Beijing cars appears to be increasing and doubles as the data of 2011, which also shows higher recognition degree for second-hand car and much potential for second-hand car demand.

As a big market for both new cars and old cars, Asian Sports Village Auto Trading Market got highest orders in December, occupying 79.1%. The rate of updating license plate was 71% in 2014, which means new cars sales in Beijing will reply more on old for new service in the future.

As acknowledged, the slowdown of Beijing auto market is due to less old cars. In 2014, there were 420,000 old cars weeding out. The policy of second-hand cars subsidy was put into effect from 2012 and plenty of old cars were weed out in 3 years later.

The vice general manager of Asian Sports Village Auto Trading Market, Mr. Yan said auto enterprises would increase the investment of human, financial, material resource and increase the introduction and training of professional technical people in 2015. The sales of new cars will be put before second-hand cars trading to guarantee the increase of new cars replacing sales revenue. In 2015, the orders of second-hand are estimated to be still higher than new cars orders, increasing by around 3%.