The Penetration Rate of China’s Used Car E-Commerce Increased to 12.6% in 2016

By 2016, the trading volume of used car in China added up to around 11.0 million vehicles with agrowth of 16.8%.The trading volume of used car e-commerce attained 1.4 million vehicles with a penetration rate of 12.6%.

 

3.14.1

The penetration rate of used car e-commerce increased to 12.6% in 2016 can be attributed to the following reasons:

The booming up of car ownership in China guaranteed the abundance of used car, and the customers were more receptive to used car trade, which stimulated customers’ purchase intention of used car.

Furthermore,the standardized and market-oriented policies introduced by Chinese government greatly accelerated the development of China’s used car industry.The huge potential of used car market attracted the attention of capital market, and the investments from capital market brought opportunities for explosive growth to used car industry.

 

3.14.2

In used car e-commerce 2B market, B2B businesses took the dominant share of 69.4%, while in used car 2C market, B2C businesses held the largest share of 79.6%, taking the absolute leading role in the markwt.

 

3.14.3
Source: iResearch
Date: 2017-03-14
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