The Current Situation of China’s Used Car Market and Development Suggestions

DOI

10.2991/aebmr.k.220307.233How to use a DOI?

Keywords

PEST analysis; Used car market; China

Abstract

With the development of the economy, Chinese residents’ car ownership has been increasing, and the used car market has also ushered in a new development opportunity. However, researches and articles have revealed that the used car industry in China has arrived at a bottleneck period. This indicates that there are still huge management and development gaps in China’s used car market compared with the U.S. market. This article proposes to utilize a PEST (political, economic, social, and technological) analysis to uncover differences in the two markets by comparing the current status of China in these four dimensions to the US used car market throughout the same period. A large amount of literature was studied, contrasted, and synthesized to aid in a better knowledge of the industry background. This paper explores the existing problems in the Chinese used car market at this stage and explores targeted solutions to promote the healthy development of the market.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Huize Ren
PY  - 2022
DA  - 2022/03/26
TI  - The Current Situation of China’s Used Car Market and Development Suggestions
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 1424
EP  - 1429
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.233
DO  - 10.2991/aebmr.k.220307.233
ID  - Ren2022
ER  -