China will allow the export of used carsMay 10, 2019
This measure is intended to increase sales in the domestic market. The fact is that for the first time since the 1990s, sales in China have fallen. At the beginning of the year, the government introduced tax breaks.
Now the Chinese Ministry of Commerce will allow the export of used cars in ten Chinese cities and provinces. Used cars will be produced from Beijing, Shanghai, Guangdong, etc.
The authorities have already started working on issuing permits to companies that “can cope with the work in this direction,” and tests are being developed to ensure the quality and safety of used cars that will be exported to other countries.
Officials point out a huge export potential, noting that in most developed countries they export about 10% of the total sales of used cars. Meanwhile, in China, the market for used cars is still much smaller than the market for new cars. Thus, in 2018, 13.82 million used cars and 28.08 million new cars were sold.
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