FAW to launch used-car dealerships in China
China FAW Group Corp. has entered the domestic used-car market by unveiling a used-car dealership in Beijing.
The center opened December 23 and will buy and sell FAW's own-brand cars as well as used commercial vehicles, according to its Web site. After Beijing, FAW plans to open similar centers in China's eastern, southern and southwestern regions.
FAW is the second domestic Chinese company that has entered the used-car market.
In October, Shanghai Automotive Industry Corp. (SAIC) set up a joint venture with General Motors Co. to sell and service Shanghai GM's second-hand Buick, Chevrolet and Cadillac models as well as selected brands from other automakers.
Shanghai GM is a production joint venture between SAIC and GM.
According to the latest available figures from China Automobile Dealers Association, the volume of used-car sales exceeded 3 million units in 2009.