How much profit is there in the used car industry.

China's new car market has seen its first negative growth in 28 years. According to public data, passenger car production and sales in 2018 amounted to 23,529,000 and 23,710,000 units respectively, down 5.2 percent and 4.1 percent year-on-year.

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In comparison, the used car market seems to be better. According to the statistics of the Market Demand Forecast and Investment Strategy Planning Analysis Report of China's Used Automobile Industry released by the Prospective Industry Research Institute, in December 2018, China's used car transactions were 1,217,200 units, down 4.58% sequentially and 1.11% year-on-year, and the transaction value amounted to 76.976 billion yuan, which was the first time in 2018 that the transaction volume of a single month declined year-on-year.

Cumulatively, the country completed transactions of 13,821,900 used cars from January to December 2018, up 11.46% year-on-year, with a transaction value of 860.357 billion yuan. From 2001 to the present, China's used car trading volume has continued to grow for the 18th consecutive year, with the national trading volume growing from 370,000 units to 13.82 million units, an increase of 37 times.