Second-Hand Equals Second Chance For Carmakers

As new car sales in the previously high-growth markets of China and India have slowed in recent months, dealers are reporting a shift toward the used-car segment. In India, where sales of old and new vehicles have traditionally grown at similar rates alongside each other, the sudden increase in the cost of owning and running a new car means industry players expect the second-hand market to more than double in size by 2015. Similarly, in China the used market is expected to grow at three times the rate of its new car counterpart over the next five

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