Arab Today, arab today carmakers in china eager to selland resell
Last Updated : GMT 14:29:17
Arab Today, arab today
Arab Today, arab today

Carmakers in China eager to sell - and resell

Arab Today, arab today

Arab Today, arab today Carmakers in China eager to sell - and resell

Beijing - AFP

 China's car market is just gearing up as the world's largest, yetautomakers are already eyeing the next big thing -- the market for reselling them.Their eagerness to attract buyers in the world's largest car market is on full displayat the Beijing International Automotive Exhibition, which opened to the public onMonday with more than 1,000 vehicles on show.Motor enthusiasts crowded around the displays with their spouses and children in afestive atmosphere to seek inspiration from the new models, while executivesrepresenting brands from across the globe also made appearances at the show,China's biggest.China has become a vital market for foreign brands as business in other regionsflags.Yet the boom in sales -- which last year rose 14 percent to 22 million vehicles -- only took off a decade ago.And the nation only overtook the United States in 2009 to become the world'sbiggest auto market.With such a brief period for new cars to hit the market and for China's still-expanding middle class to make the costly purchases, the second-hand market hasyet to develop.Also lacking is the necessary infrastructure such as dealerships and, in particular,guarantees of quality.But by setting up the systems to provide such assurances, automakers hope to winover second-hand buyers and sellers who have otherwise largely resorted to doing informal deals among themselves."This is a massive new car market in China, which creates a bywave of a pre-ownedcar market as well, so all our retailers should be ready for this," said Andy Goss,director of group sales operations for Jaguar Land Rover.The second-hand market is "a fundamental part of our footprint", he added.Jaguar Land Rover is setting up the systems needed to support such a market,including insurance, vehicle checks, presentation standards and marketing, Gosstold AFP.- Used-car sales lag behind -At present used-car sales in China lag far behind new ones, although estimates arerough because of the large informal market.Only about 35 used cars were sold in China for every 100 new ones, compared with afar higher ratio of 270 old for every 100 new in the United States, said DominiqueBoesch, head of the Audi sales division at FAW-Volkswagen. The key is to convince buyers that a second-hand car offers as much reliability as anew one, said Frederic Banzet, director general of Citroen, adding that the Frenchautomaker planned to provide such assurances."We explain to them that these vehicles have been checked," Banzet said.Volvo CEO Haakan Samuelsson told AFP that the company aims to bolster itsmaintenance and inspection systems to give confidence both to second-hand buyers and sellers."It's a key factor for the customer: how much do I get back when I sell it?"Samuelsson said.The company wanted to make a two-year-old Volvo more attractive than a brand-new but cheaper alternative brand, he said."This is a very interesting alternative for our customers.

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Arab Today, arab today carmakers in china eager to selland resell Arab Today, arab today carmakers in china eager to selland resell

 



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