China Used Car Markets 2020-2024 with China Grand Automotive Services Group, China Yongda Automobiles Services, Autohome, CAR Inc, Renren & Uxin Dominating
DUBLIN, Feb. 1, 2021 /PRNewswire/ -- The "China Used Car Market (by Type, Vehicle Age, Price & Region): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
China used car market is predicted to reach US$162.54 billion in 2024, witnessing growth at a CAGR of 3.21% over the period 2020-2024.
The factors such as increasing car ownership, rising disposable income, accelerating penetration of online advertising, expanding urbanization and escalating demand for affordable used cars would drive the growth of the market.
However, the market growth would be challenged by mounting concerns regarding vehicle emissions, fluctuating prices of used cars and lack of trust. A few notable trends include proliferating sales through online platforms, mounting penetration of internet and reduced rates of car insurance premiums.
China used car market has been segmented on the basis of type, vehicle age and price. In terms of type, China used car market can be bifurcated into Sedan, SUV, Minivan and other cars. On the basis of vehicle age, the market can be categorized into 3-10 years, under 3 years and 10 years & older. Whereas, China used car market can also be split into US$4500 and under, between US$4500-US$7500, between US$7500-US$12000 and more than US$12000, on the basis of price.
The fastest-growing regional market is East China due to escalating demand for affordable used owing to their low price and excellent condition, accelerating penetration of online advertising, mounting penetration of internet enabling the availability of information of the used car and resulting in growing customer inclination towards a used car.
Further, the sudden outbreak of COVID-19 has created an unfavorable impact on the market as the great lockdown has halted various industrial activities, causing supply chain disruption and decline in product demand in the automotive sector.
The competitive landscape of the market, along with the company profiles of leading players (China Grand Automotive Services Group Co., Ltd., China Yongda Automobiles Services Holdings Ltd., Autohome, Inc., CAR Inc., Renren Inc. and Uxin Limited) are also presented in detail.
Key Topics Covered:
1. Market Overview
1.1 Introduction
1.2 Decision Parameters of Used Cars
1.3 Pricing of Used Cars
1.4 Benefits of Buying Used Car Instead of a New Car
1.5 Disadvantages of Buying a Used Car
2. Impact of COVID-19
2.1 Decline in Industrial Production
2.2 Contraction in the GDP
2.3 Reduction in Automotive Sales
2.4 Impact on Used Car Sector
3. China Market Analysis
3.1 China Used Car Market by Value
3.2 China Used Car Market Forecast by Value
3.3 China Used Car Market by Type
3.3.1 China Sedans Used Car Market by Value
3.3.2 China Sedans Used Car Market Forecast by Value
3.3.3 China SUVs Used Car Market by Value
3.3.4 China SUVs Used Car Market Forecast by Value
3.3.5 China Minivan Used Car Market by Value
3.3.6 China Minivan Used Car Market Forecast by Value
3.4 China Used Car Market by Vehicle Age
3.4.1 China 3-10 Years Used Car Market by Value
3.4.2 China 3-10 Years Used Car Market Forecast by Value
3.4.3 China Under 3 Years Used Car Market by Value
3.4.4 China Under 3 Years Used Car Market Forecast by Value
3.4.5 China 10 Years & Older Used Car Market by Value
3.4.6 China 10 Years & Older Used Car Market Forecast by Value
3.5 China Used Car Market by Price
3.5.1 China US$4500 and under Used Car Market by Value
3.5.2 China US$4500 and under Used Car Market Forecast by Value
3.5.3 China between US$4500-US$7500 Used Car Market by Value
3.5.4 China between US$4500-US$7500 Used Car Market Forecast by Value
3.5.5 China between US$7500-US$12000 Used Car Market by Value
3.5.6 China between US$7500-US$12000 Used Car Market Forecast by Value
3.5.7 China more than US$12000 Used Car Market by Value
3.5.8 China more than US$12000 Used Car Market Forecast by Value
3.6 China Used Car Market by Volume
3.7 China Used Car Market Forecast by Volume
3.8 China Used Car Market Volume by Sales Channel
3.8.1 China Offline Used Car Market by Volume
3.8.2 China Offline Used Car Market Forecast by Volume
3.8.3 China Online Used Car Market by Volume
3.8.4 China Online Used Car Market Forecast by Volume
3.9 China Used Car Market by Region
4. Regional Market Analysis
4.1 East China
4.2 South Central China
4.3 Northern China
4.4 Rest of China
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Increasing Car Ownership
5.1.2 Rising Disposable Income
5.1.3 Accelerating Penetration of Online Advertising
5.1.4 Expanding Urbanization
5.1.5 Escalating Demand for Affordable Used Cars
5.2 Key Trends & Developments
5.2.1 Proliferating Sales through Online Platforms
5.2.2 Mounting Penetration of Internet
5.2.3 Technological Advancements
5.2.4 Reduced Rates for Car Insurance Premiums
5.3 Challenges
5.3.1 Mounting Concerns Regarding Vehicle Emissions
5.3.2 Fluctuating Prices of Used Cars
5.3.3 Lack of Trust
6. Competitive Landscape
6.1 China Market
6.1.1 Revenue Comparison of Key Players
6.1.2 Market Capitalization Comparison of Key Players
7. Company Profiles
7.1 China Grand Automotive Services Group Co., Ltd.
7.2 China Yongda Automobiles Services
7.3 Autohome, Inc.
7.4 CAR Inc.
7.5 Renren Inc.
7.6 Uxin Limited
For more information about this report visit https://www.researchandmarkets.com/r/xqpimv
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