Sources with China Automobile Dealers Association (DACA) said that secondhand vehicles in 2006 witnessed a trading volume of 1.9059 million, a year-on-year increase of 31.5 percent, surpassing that of new cars for three years in a row.

DACA predicts that a prosperous secondhand market is emerging in China.

Though growth rate is 6.27 percentage points higher, sale of secondhand autos in 2006 in China just took up 26.4 percent of that of new

ones. However, in America, global largest auto market, sale of the secondhand in 2006 amounting to 42.50 million, was 2.57 times of that of the new ones, which arrived at 16.50 million. Also in Japan, sales of the used vehicles can reach 8 million each year while that of new ones, less than 6 million.

After China's access to WTO, China's automotive industry has seen an explosive growth in output and sales. Though new auto market ranked 2 and as 3 biggest carmakers, China's vehicle ownership per thousand people was 1/5 to 1/6 of the world's level.