Used Cars – VW, GM, AUDI, BMW & Toyota

Ten years ago the Chinese bought just 300,000 cars annually. Last year they bought 10 times that many in just one year!

That’s good news for the new car market AND good news for the used car market. It’s good news for car business in China.

More than 1.25 million used cars were sold last year and there will be more soon.

Currently China sells three times as many NEW cars as it does certified pre-owned vehicles (What DOES that mean?) – uh, USED cars.  In Europe and the US the ratio is reversed – meaning three times as many used cars are bought and sold as new cars.

Translation – there is a tremendous used car market looming in China.

VW, GM, AUDI, BMW and TOYOTA have all jumped into the fray with authorized dealers to sell their used cars.

The biggest problem with selling used cars in China is some shops "cheat consumers" according to one BUICK dealer.

Well, what’s new about that?

When the Chinese learn how to buy a good used car without being cheated, then they will have something to teach us, won’t they?

What do you think?