China is the largest automobile market worldwide both in terms of demand and supply. In 2019 China produced approximately 21 million passenger cars (~26.5 percent share of total global vehicle production).
Sales in China accounted for about 33 percent of global motor vehicle sales (about 25 million new cars in 2019).
Although China has more than 270 million vehicles on its roads, only an estimated 15 million secondhand models were sold in 2019 (in US sold: new cars ~17 millions / used cars ~40 millions).
At the same time experts believe that China's current car market is similar to that of the US in the 1980s, and that used car development is likely to follow the same trend.
I even can't imagine what would happen if Chinese market (that is currently already so gigantic) will reach the current development level of US market.
just think 🤔 about that. And have some $蔚来(NIO)$ and $优信(UXIN)$ shares.
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