Shen Rong: Overview of Used Car Market in 2014 and Outlook for 2015

Mr. Shen Rong believes that although China is the worldâ€™s largest seller of new cars, the source of the car is not a factor that restricts market development. New car sales and car ownership can no longer be used as an indicator to judge the capacity and potential of the Chinese auto market. Compared with the market structure of 13 million new-vehicle sales and 40 million used-car sales in the US market, Chinaâ€™s used-car sales accounted for only 25% of car sales, throwing it at a stage of development, and building a mature market environment still has a long way to go.
From January to November 2014, the transaction volume of the used-car market was: 5.451 million vehicles, an increase of 16.74% over the same period of last year; the transaction volume was 327.626 billion yuan, up 26.37% from the same period of last year. The number of basic passenger cars was 3,163,700, an increase of 15.95% over the same period of last year. The transaction volume was 2015.51 billion yuan; the number of passenger cars was 1,814,500, an increase of 17.71% over the same period of last year; the transaction volume was 38.717 billion yuan;
There were 693,100 trucks, a year-on-year increase of 14.39%, with a turnover of 29.47 billion yuan; off-road vehicles were 181,200, an increase of 21.56% year-on-year, and the transaction volume was 26.60 billion yuan.
In terms of regional market performance, the transaction volume of the used car market in the country increased by 16.74% compared to the same period of last year. In terms of sub-regional markets, the growth rates in the southwest, south-central, north-west, and east China regions are relatively large, which are 34.64%, 22.56%, 20.27%, and 13.89% year-on-year respectively; the growth rate in northern China is relatively slow, increasing by 1.41% year-on-year; It dropped by 7.07% in the same period last year.
As for the proportion of transactions, the ratio between Central and South China and East China accounted for the highest proportion, achieving a total of 1.5993 million and 1.407 million second-hand car transactions; the proportion of trade volume in Central and South China increased by 1 percentage point compared to the same period of last year, and the proportion in Eastern China was basically the same as that of the same period of last year. Flat.
Mr. Shen Rong said at the meeting that the Chinese auto market has bid farewell to the era of high growth, the buyerâ€™s market pattern has begun to show, and the combination of new and used cars in the auto market will become closer. Judging from the data at this stage, the growth rate of second-hand car transactions, the proportion of second-hand car transactions, and the demand for replacement are increasing. The growth rate of new car sales, new car sales, and new purchase demand are declining. The growth rate of the new car market is gradually slowing down. However, the used cars are starting to accelerate and may become the new engine for the development of the industry in the future.
At present, the policy environment of the used car market is also facing changes, mainly in several areas: the three-limit policy has stimulated changes, the strengthening of environmental protection concepts and regulatory policies has spawned changes, taxation, temporary property rights registration policies have not changed, and the â€œsecond-hand car evaluation and evaluation technical specificationsâ€. â€œThe national standard implements a change in the asymmetrical information of the vehicle condition, the Three Guarantees policy to change the concept of used car business services, and the accelerating trend of financial capital to enter the used car.
Shen Rong pointed out that the poor circulation of second-hand vehicles caused by the restricted-movement policy will be transmitted to the new car market. At the same time, the decline in vehicle prices will cause the asset value to shrink. Taking Beijing as an example, the price loss caused by the decline in the turnover price of vehicles has reached 10 billion yuan. yuan. In response, the Ministry of Commerce conducted investigations on issues such as restrictions on relocation, and the China Automobile Dealers Association had submitted a report to the Ministry of Environmental Protection on the proposal to uniformly move in the same emission standards as domestic vehicles in use, and received the attention of the relevant departments. First Quarter 2015 Or will get a solution.
In 2015, the release of 40 million new vehicles will be far more than the market demand. The new car market may face greater pressure and affect the used car market, resulting in changes in prices and other aspects. On the other hand, the issuance and implementation of the "Used Vehicle Appraisal and Evaluation Technical Specifications" has made the transaction trend of second-hand cars more transparent, and the birth of bidding platforms such as car racing every day has also accelerated the formation of a market-oriented pricing system, and a market protection system will be established. New car similar to the trading environment to promote the healthy development of the used car market
At the end of the speech, Mr. Shen Rong admitted that the capital market is rapidly rushing into the used car industry. The capital's attention and love have explained the market's recognition of this model to a certain extent. Financial, e-commerce and model innovation will be the future used car market. The three major sources of power.

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