China sees growth in export of second-hand cars

China has seen growth in the export of second-hand cars so far this year, thanks to the government's rollout of vehicle trade-in programs which also significantly boosted car consumption in the country, according to industry insiders.

Since the beginning of this year, the second-hand car market in China has picked up significantly, with the transaction volume achieving double growth both year-on-year and month-on-month. It was reported that in addition to the resale of a majority of used cars at the domestic market, some of the replaced used cars are going on the international market.

According to the latest official data released by China Automobile Dealers Association (CADA) , China's used car exports reached 270,000 units in the whole of 2023, and the country's used car exports are expected to hit the 400,000-unit mark in 2024.

China officially kicked off the exports of second-hand cars in May 2019, with Beijing, Tianjin, Shanghai, and Guangdong among the first batch of ten cities allowed to conduct such trade.

Since then, China's second-hand car exports have experienced fast growth, with the export volume jumping from the initial 3,036 units in 2019 to 69,000 units in 2022.

Customers and purchasers from other parts of the world are now frequent visitors to the biggest second-hand vehicle market in Guangzhou City, capital of south China's Guangdong Province, and they have shown particular interest in the country's new energy vehicles. With second-hand vehicle trade-in programs rolled out one after another across China, car dealers say their used vehicle purchase sources have been diversified.

So far, China's used car export has shifted from the operation of pilot projects in designated cities to the lift of all restrictions on used car export, and all regions are seeing rapid growth in used car exports. In the first half of this year, east China's affluent Jiangsu Province exported over 3,500 second-hand cars, with the total export value reaching about 80 million U.S. dollars. Tianjin, a large city in north China, exported about four billion yuan (552.3 million U.S. dollars) worth of second-hand cars in the six-month period, up 2.3 times year over year. In the first three quarters, the Inner Mongolia Autonomous Region in north China exported 6,251 second-hand vehicles, with the export value surpassing 100 million U.S. dollars.

"The second-hand car market is now a shining point and its export volume is growing year by year. China is exporting second-hand cars to over 160 countries and regions. The second-hand car brands that China are exporting are gradually establishing brand images on international second-hand car markets," said Wang Du, vice president of CADA.

China sees growth in export of second-hand cars

Nicaragua's co-foreign minister Valdrack Jaentschke has warned that militarism must never be allowed to rise again, as Japan's recent moves to lift its arms export ban and revise the pacifist Constitution continue to draw international concern.

This year marks the 80th anniversary of the opening of the Tokyo Trials, where Japan's Class-A war criminals from World War II were brought to justice.

In an interview with China Global Television Network (CGTN), Valdrack Jaentschke voiced his concern that today's world order is being undermined by interventionism and other challenges.

"It is necessary for us to remember that after the end of World War II, countries worked hard to build a new international order based on international law. However, regrettably, more than 80 years later, we are seeing that this once explored and attempted order is being challenged by interventionism, a confrontational mindset, and tendencies like 'might makes right.' These are precisely the conditions that gave rise to fascism and militarism in the past, which ultimately led to the tragedy of World War II," he said.

He said the international community has a responsibility to pursue a new international order -- one fundamentally grounded in peace.

"Looking back at the history more than eight decades ago and comparing it with today's reality, it is our responsibility to recognize that the world should, and must, build a new international order that is more just, fairer, rooted in international law, based on a logic of mutual benefit and shared success, and fundamentally grounded in peace," said the minister.

"Today, as we revisit the Tokyo Trials, it is meant to remind the world that such a tragedy must never be repeated -- and that we must do everything in our power to prevent it from happening again. We must stop that dark world -- born from militarism, interventionism, and fascism -- from ever returning," he said.

Nicaraguan FM warns of militarism revival