China Used Vehicle Market Outlook to 2022: Ken Research

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China Used Vehicle Market Outlook to 2022: Ken Research

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Title: China Used Vehicle Market Outlook to 2022: Ken Research


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  • China Used Vehicle Market Outlook to 2022 Ken
    Research
  • The report titled China Used Vehicle Market
    Outlook to 2022 - by Type of Vehicle (Sedans,
    SUVs, Micro Vans, MPVs, Trucks, Buses, Cross Type
    Vehicles, Trailers, Motor Cycles and Low Speed
    Trucks), by Vehicle Age, by Distribution
    Channels, by Region, by Price of Vehicle
    provides a comprehensive analysis of Chinas Used
    Vehicle market introduction and genesis, market
    size by value and volume, market ecosystem, value
    chain analysis and market segmentation. The
    report covers complete snapshot on online used
    vehicle market, used vehicle finance market and
    buying decision parameters. The report provides a
    competition scenario with competitive landscape
    of major players in China online used vehicle
    market such as Guazi, Uxin Group and Renrenche.
    The report also covers SWOT analysis, future
    projections along with analyst recommendation.
    The report is useful for major organized
    dealers/Large vehicle markets, online used
    vehicle companies, unorganized dealers and auto
    loan companies for

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used vehicles, potential entrants and other
stakeholders to align their market centric
strategies according to ongoing and expected
trends in the future. Market Size China used
vehicle market is in its early stage of growth.
Globally, China is the largest market for new
vehicles. This combined with falling average age
of used vehicles shows ample scope for growth in
the coming years. A gradual shift has been
observed, an increasing number of people are now
opting for vehicles under the age of 3 years. On
the overall level, Chinas used vehicle market
size has increased three fold in last 5 years
from 2012 to 2017. Introduction of major online
companies such as Guazi, Uxin Group, and
Renrenche has increased the penetration rate of
online companies in China. Online penetration
rate has increased in last 5 years as well.
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  • Market segmentation
  • By Type Sedans (basic passenger cars) has
    remained the most used type of vehicle in China.
    SUVs are the second most preferable type and
    their sale has amplified from 2015-2017. On the
    other hand, used Micro Van sales have augmented
    from 2015 to 2017. These types of vehicles are
    mostly preferred by large families and for
    commercial purposes. Other types of vehicles such
    as Trailer, motorcycles and low speed trucks have
    registered the remaining proportionate share in
    2017.
  • By Vehicle Age Major trade of used vehicle has
    taken place within the age bracket of three to
    ten years. Sale of cars under 3 years of age is
    increasing significantly due to growing
    penetration of online channels and variety of
    finance schemes available to the public.
  • By Region East China has accounted for majority
    of sales of used vehicles during the year 2017.
    The region covers provinces such as

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By Region East China has accounted for majority
of sales of used vehicles during the year 2017.
The region covers provinces such as Shanghai,
Jiangsu, Zhejiang, Anhui, Fujian, Jiangxi and
Shandong. As of 25th April 2018, Shanghai has
purchasing power parity (PPP) which is second
highest in China. East China accounts for the
highest population compared to all other regions.
South Central China has accounted for second
largest share in the year 2017. Major provinces
covered in south central China are Henna, Hubei,
Hunan, Guangdong, Guangxi, Hainan, Hong Kong and
Macau. Northern district encompasses Beijing,
which is the capital city and commercial heart of
the country with highest PPP. South West, North
East and North West districts accounted for a
combined share of around 27 in the total sales
volume during 2017. By Price People in China
generally prefer to purchase used vehicles in
price range less than CNY 30,000. Cars priced
between CNY 30,000
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  • -50,000 accounted for the second highest share.
  • Snapshot on China Online Used Vehicle Market
  • People are shifting their preference towards
    online mode of purchase. Dealers in the market
    are charging higher margin which leads to
    increased final price of the vehicle. On the
    other hand, online websites are just charging a
    small commission on the transaction value. Online
    sellers of used vehicle claim to perform quality
    checks and fitness test. Online companies list
    vehicles only after performing rigorous vehicle
    inspection. This has enhanced level of trust of
    customers over online used vehicle companies
    leading to a shift in buyers preference.
  • Snapshot on Used Vehicle Finance Market
  • Loan on zero percent down payments is also
    provided, however in such cases, rate of interest
    charged has increased in 2017. Used vehicle
    finance penetration in China has increased from
    2016 to 2017.

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  • Major companies which provide used vehicle
    financing services in China are 100credit.co,
    Pingan Bank, Weizhong Bank, Xin, Ant Financial,
    DBS, Hong Leong Finance, May Bank, Tokyo Century
    Leasing, United Overseas Bank, Pahouche and many
    others.
  • Competition Scenario (Online Channel)
  • Major companies in used vehicle market in China
    are Guazi, Uxin Group, and Renrenche. Guazi has
    comprised of the maximum share in the sale of
    used vehicle in China from online channels during
    2017. On the other hand, Uxin Group has comprised
    of the second highest market share in sale of
    used vehicle during the same year. Renrenche has
    been accounted for the third highest market share
    in the sale of used vehicles during 2017. These
    three companies cover majority of the total sales
    of used cars from online channels during 2017.
    Online used vehicle companies compete on various
    parameters such as the number of cities covered,
    providing value-added services, performing number
    of quality checks before listing vehicles and
    portfolio of

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  • Vehicles. They provide various services such as
    vehicle inspection, consultancy services,
    financing and insurance of Vehicles, door to door
    Vehicle delivery services, transfer of Vehicle
    registration and after sale services.
  • Guazi provides its services in more than 200
    cities of China whereas Uxin Group has more than
    200 offline stores to provide after sale services
    to its customers. Renrenche has a presence in
    over 80 cities in China. There are various
    business models prevailing in the online used
    vehicle market of China such as C2C, B2C, C2B,
    B2B, and C2B2C.
  • Future Outlook and Projections
  • By Volume It has been expected that there will
    be a reduction in average replacement age of
    vehicles in china. This will lead to increase in
    average ticket size of vehicles. Moreover, online
    penetration in the used vehicle market is
    expected to maintain the growth trend till 2022
    showcasing maximum potential to grow.

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  • Online companies such as Guazi are focusing to
    expand its portfolio of services by expanding
    into used vehicle finance. Renrenche has planned
    to open multiple offline stores by 2018. In
    China, sale of used vehicles through financing is
    expected to reach up over 13 million units by
    2022,
  • Key Topics Covered in the Report
  • China Used Vehicle Market Size (2012-2017)
  • China Used Vehicle Market Overview
  • China Used Vehicle Market Segmentation by type of
    vehicle sale (Sedans, SUVs, Micro Vans, MPVs,
    Trucks, Buses, Cross Type Vehicles, Trailers,
    Motor Cycles and Low Speed Trucks)
  • China Used Vehicle Market Segmentation by Vehicle
    Age (Three to Six Years, Less Than Three Years,
    Six to Ten Years and More Than Ten Years)

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  • China Used Vehicle Market Segmentation by
    Distribution channels (Organized Dealers/Large
    Vehicle Market, Online, and Unorganized Dealers)
  • China Used Vehicle Market Segmentation by Region
    Wise Distribution (East China, South Central
    China, Northern China, South West China, North
    East China, North West China)
  • China Used Vehicle Market Segmentation by Price
    of Vehicle in CNY (Less than 30,000,
    30,000-50,000, 50,000-80,000, 80,000-120,000,
    120,000-150,000, 150,000-300,000 and More Than
    300,000)
  • China Used Vehicle Market Ecosystem and Value
    Chain Analysis
  • Snapshot on China Online Used Vehicle Market.
  • Snapshot on China Used Vehicle Finance Market.
  • Buying decision parameters and trend and
    developments of China Used Vehicle Market
  • Complete Competition Analysis including Heat Maps
    Strength and Weakness of the top five major
    online companies.

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  • Competitive Landscape of Major Players in China
    Online Used Vehicle Market and overview of all
    Other Online Major Players in China
  • SWOT Analysis of China Used Vehicle Market
  • Government Regulations of China Used Vehicle
    Market
  • Future Outlook and Projections of China Used
    Vehicle Market (2017E-2022E)
  • Analyst Recommendation
  • Economy Analysis including major Macro/Micro
    Economic factors affecting China Used Vehicle
    Market (2012-2022E)
  • For more information about the report, refer to
    below link
  • https//www.kenresearch.com/automotive-transportat
    ion-and-warehousing/automotive-and-automotive-comp
    onents/china-used-vehicle-market/149475-100.html

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https//www.kenresearch.com/automotive-transportat
ion-and-warehousing/automotive-and-automotive-comp
onents/india-used-car-2015-edition/654-100.html T
he future of the used car market in Indian is
optimistic with the organized players playing a
key role in the industry growth and with a growth
in used car customers. Contact Us Ken
Research Ankur Gupta, Head Marketing
Communications sales_at_kenresearch.com 91-901537824
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