n the first half of 2019, a total of 6.86 million used cars

上海夜网were sold across China, up 3.9 percent year-on-year. Overall sales hit 43.4 billio

n yuan, according to the latest data from the China Automobile Dealers Association.上海夜网品茶微信

Luo Lei, deputy secretary-general of the China Automobile Dealers Association, said earlier that the booming market is tha

nks to the central government’s decision to remove limits on the flow of used vehicles across regions.

上海夜网Since last year, China has ramped up efforts to scrap limits on cross-region flow of used

cars, as part of the country’s broader push to make the automobile industry globally competitive.

“This will encourage consumers to switch cars more frequently and

help enterprises to adjust their plans and explore untapped demand,” Luo said.上海夜网品茶微信

China has about 240 million cars on the road, data from CADA showed, yet about 78 percent are from first-and second-tier cities.

“But demand for used vehicles chiefly comes from consumers in small cities, resulting in huge dema

上海夜网品茶微信nd-supply imbalances geographically,” according to data from Youxin, an online used car dealer.

To tap into the demand, major car dealers including Renrenche, Youxin and CA

RS are all gearing up to enter more cities and provinces to boost market share.上海夜网

Major ride-hailing firm Didi is also entering the mar

ket by buying used vehicles directly from Renrenche in a bid to lower costs.

上海夜网品茶微信”The transaction volume between the two sides is likely to exceed

2 million vehicles in three years,” said Renrenche in an earlier statement.

Major internet behemoths are also joining the fray.

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