Due to the pressure of price competition, manufacturers and dealers began to sell cars with zero mileage as used. This allows you to offer them with large discounts, bypassing official restrictions. The authorities initiated a meeting with the largest market participants to discuss the situation. Under suspicion were thousands of sellers on online platforms of used cars.
Large -scale price competition between automakers in China led to the emergence of a doubtful practice of selling new cars under the guise of used ones. The country’s Ministry of Trade held an emergency meeting with representatives of BYD, Dongfeng Motor, industry associations and trading floors, where they discussed the rapid growth of cars that no one used, but formally registered.
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The reason for the meeting was the statement by the chairman of the board of directors of Great Wall Motor Way Jiangjun, who spoke about the new market trend – the sale of the so -called “used cars with zero mileage.” Such machines are recorded, receive numbers and immediately get to the secondary market, although in fact they never went on the road. As a result, buyers receive significant discounts, and sellers – the ability to circumvent price restrictions. According to Wai, on popular platforms of used cars, there are at least four thousand such sellers.
In early May, it became known that the market for new cars in China continues to grow for the third month in a row. From January to April, almost seven million new cars were sold in the country – this is 8.2 percent more compared to the same period last year. In April, dealers sold 1.78 million cars, which exceeded the indicators of April 2024 by 14.8 percent.
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