Huge second-hand car market opens
By Li Ning and Feng Jianmin |
December 26, 2011, Monday
|
Print Edition
Print Edition
CHINA'S largest second-hand car hypermarket opened on November 23 in Jiading District's Jiangqiao Town. It provides purchasing, repairs and financing services.
The first phase of the hypermarket, owned by a subsidiary of Car King Holdings Ltd (Hong Kong), cost 150 million yuan (US$23.7 billion).
It has a 200,000-square-meter showcase area, big enough for 1,000 cars. The 6,000-square-meter repair shop will allow mechanics to repair and renovate 120 cars at the same time.
There are 3 million cars in Shanghai and 60 percent of these are passenger cars. An estimated 360,000 used cars will be on the market every year, and the hypermarket hopes that every buyer can find his or her ideal car here.
The market is modeled on CarMax, the largest second-hand car dealer in the US. The hypermarket will provide one-stop services including vehicle testing, certification, repairs, financial services, after-sale warranty and parts sales.
The first phase of the hypermarket, owned by a subsidiary of Car King Holdings Ltd (Hong Kong), cost 150 million yuan (US$23.7 billion).
It has a 200,000-square-meter showcase area, big enough for 1,000 cars. The 6,000-square-meter repair shop will allow mechanics to repair and renovate 120 cars at the same time.
There are 3 million cars in Shanghai and 60 percent of these are passenger cars. An estimated 360,000 used cars will be on the market every year, and the hypermarket hopes that every buyer can find his or her ideal car here.
The market is modeled on CarMax, the largest second-hand car dealer in the US. The hypermarket will provide one-stop services including vehicle testing, certification, repairs, financial services, after-sale warranty and parts sales.
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