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Used car market low
6/7/2005 17:13

Gu Jia/Shanghai Daily news

Figures from the city's used car industry association show that the minor increase in trading volume in the past six months is the start of a low season for the local used car market, reported today's Oriental Morning Post.
The total trading volume in the first half of the year is 77,265, up by only 0.72 percent over the previous year.  
Experts indicate that the depression in the second-hand car market this year could be a result of last year's low volumes in the new car market.
Moreover, to ease traffic problems, the city is working hard to control the increase in the number of automobiles.
To the delight of dealers, however, the replacement rate of used cars this year has increased by four percent.  And 72 percent of the used cars are be in used for no longer than six years.