Car ownership in China has exceeded 300 million.

After car ownership reaches a certain degree, the used car market begins to increase, which is the universal law of automobile consumption in the world. At present, the number of cars in China has exceeded 300 million, ranking first in the world, and more and more consumers have begun to choose to buy their favorite cars in the used car market. Data from the China Automobile Dealers Association showed that from January to October, the cumulative transaction volume of used cars reached 15.1008 million, up 13.26 percent year-on-year, with the transaction value reaching 963.751 billion yuan.

Li Xin, deputy secretary-general of the China Automobile Circulation Association, made a visual analysis of the industry's business activities in the form of data. She believes that from an urban point of view, second-hand car consumption is spreading from first - and second-tier cities to midstream cities. In the past three years, the share of car sales in new first - and second-tier cities has increased the most, while the share of third - to fifth-tier cities has declined. This year, cities with high sales growth began to move inland, with some inland provincial capitals performing well.