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2024 Update coming soon Published- Dec 2021 Number Of Pages -101
Used trucks in the region of China have been of peculiar interest in consideration of their large mechanical economy and logistical requirements. China, like the EU and the US, utilizes national rules to manage and limit emissions, such as NOx or sulfides of sulfur oxide (SOx). China V, the newest national standard, went into force in January of this year. In comparison to the previous China IV requirements, China V principally aims to restrict the sulfur level in fuel to 10 parts per million – one-sixth of the China IV requirement of 50 ppm.
Furthermore, there isn’t a single definition that applies to all trucks because trucks are often divided into other categories. While the EU uses the categories of N2 (vehicles weighing more than 3.5 tonnes) and N3 (vehicles weighing more than 16 tonnes), the description of light (3.5-7.5 tonnes), medium (7.5-12 tonnes), and heavy-duty (more than 12 tonnes) vehicles is commonly used in China.
Similar to the passenger car industry, many Chinese OEMs in the truck sector cooperate with foreign companies via Joint Ventures to develop and produce their vehicles. There have been a considerable number of foreign JV partners, which are framed with a blue square and positioned right next to their Chinese partners as part of much-required used truck sales and mobility.
In the past, vehicle manufacturers and dealers have preferred to omit used automobiles from their operations, believing that the focus of dealers’ sales efforts should be on new cars, which have higher price tags and are targeted at richer consumers. Aiming to push new automobile inventories to the market with suitable incentives has been a goal of dealers and original equipment manufacturers (OEMs).
Because used trucks are less expensive than new ones and freight demand has increased throughout the construction and logistics industries, there has been a steady increase in the market for used vehicles. However, considerations like as incentives and discounts provided by truck manufacturers, new technology, fuel economy (available at a cheap cost), and reduced downtime of new vehicles drive consumers to prefer new trucks over old ones. There has been an increase in demand for material transportation due to the growth of construction and agricultural as well as e-commerce operations during the last three years.
The market has been boosted most recently by government policy. Series policy, whether direct or indirect, has been released and helps to create a favorable market for used cars and trucks. The basic macro-policy direction of encouraging the development of the used car and truck market was confirmed by the government work report and plan. In the used car market, the policy support has already been put into practice and shifts from external environmental support to direct fostering of the used car market. The Demonstration Project for Upgrading and Reconstruction of the Used Truck Trade Market is the most significant.
The used truck market has grown in size and importance in the past decade and is positioned to continue to do so in the future. A successful used vehicle strategy on the part of automakers and dealers is becoming essential to their operations and is increasingly recognized as such.
There have been some core strategies being implemented that are essential for growing dealers’ used vehicle sales in the Chinese Market in recent years which include having an opportunity to Continually improve the customer experience, from the Internet to the showroom, rationalize customer relationships through CRM, perfect online promotion and merchandising efforts to reach prospects and existing customers, manage inventory and pricing with network-wide IT solutions, maximize high-margin sales opportunities, optimize certified used vehicle programs.
The lack of trust between buyers and sellers in China’s used truck market is still a major obstacle. There are few resources available to Chinese consumers to help them appreciate the value of older cars. Used car brokers frequently set traps for unsuspecting customers to make a large profit. Consumers must weigh factors like quality, price, and legal risk. And few mechanics are experienced enough to value cars independently. Due to the lack of trust, many potential used car demands cannot transfer into real market demand. Some foreign automakers are hoping to address this problem by setting up programs to sell certified pre-owned cars with warranty protection.
The urban customers would have better saviors towards the OEM-affiliated branded dealerships. The internet portals did not have a visible share. It looks like the customers looked at the information on the internet but concluded the transaction at a physical dealership. It must also be said that the identification of a customer who transacted in a conventional dealership as opposed to a web portal is relatively lower when integrated directly into a non-branded platform dealership. It is, therefore, likely that there is a certain amount of bias away from the buyers on the internet.
Used automobile purchasers are increasingly turning to the Internet as a source of information. Consumers still utilize local media and word-of-mouth to investigate used car purchases, but they are increasingly turning to the Internet, underscoring the necessity of having a solid Internet strategy for used vehicle programs in general. A growing number of dealers report that their Web operations have boosted sales and expanded their trading range, thanks to their increased attention to multi-channel communication techniques.
Made in China has been one of the major developer and distributor channels for the used trucks segment in the Chinese region of business operations. Being a comprehensive service platform for foreign trade, Made-in-China.com is focused on tapping business opportunities for Chinese suppliers and overseas buyers and providing one-stop services for promoting international trade between the two sides. To reduce trade risks for global buyers, all premium suppliers on Made-in-China.com are verified on-site by SGS, Bureau Veritas, or TÜV Rheinland, the world’s leading inspection companies.
Sino Truck is part of the much-required localized used truck market sale and distribution platform. It operates on the lines of selling various classes of vehicles which include, various trailers such as heavy duty low bed trailers, flatbed trailers, skeletal container semi-trailers, side wall semi-trailers, gooseneck trailers, high bed trailers, cargo box semi-trailers, dump trailers, bulk cement tanker trailer, fuel tanker trailer, stainless steel tank trailer, aluminum tank trailer, car carrier semi-trailer, cement bulkers, and can be manufactured as customized design with great price and service advantages. It also holds the manufacturing and redeciding capability as per the client requirements, for developing and manufacturing SINOTRUK HOWO tractor trucks, dump trucks, fuel tanker trucks concrete mixer trucks, water spraying trucks, etc.
