Hyperdrive
China’s Next Advance in Electric Vehicles Is a Used-Car Market
Work to drum up interest in pre-owned options are slowly starting to deliver an impact.
Vehicles at a used-car sales lot in this aerial photograph taken in Shanghai, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s efforts to build a thriving market for secondhand vehicles, pretty much from zero, are slowly starting to deliver results, including in the electric car segment.
Sales of pre-owned vehicles jumped by 30% in the first ten months of this year and are expected to reach 17 million units in 2021, according to the China Automobile Dealer Association, or CADA.