Waigaoqiao continues second-hand NEV business expansion

The new exhibition hall for second-hand new energy vehicles (NEV) at the Waigaoqiao Automobile Trade Market spans 2,286 square meters. [Photo/Pudong Fabu]

As one of the nine pilot enterprises for Shanghai's second-hand car exports, the Waigaoqiao Automobile Trade Market, which is located in the China (Shanghai) Pilot Free Trade Zone, has continued to expand its second-hand car business since the beginning of this year.

On Oct 26, the market opened a new exhibition hall for second-hand new energy vehicles (NEVs), which is utilized for exhibitions, sales, test drives, financing and registering NEVs from a variety of brands, including Tesla, BYD, Xpeng and Li.

"The domestic car market is recovering, which has led to the establishment of the exhibition hall," said Chen Yifeng, deputy general manager of the Shanghai Waigaoqiao International Trade Operating Center.

According to Chen, the Waigaoqiao Automobile Trade Market registered 8,233 new cars during the June-to-September period, up 14.76 percent compared with the same period last year, and 4,877 deals for second-hand cars were inked, up 21.77 percent year-on-year.

The Shanghai Waigaoqiao Automobile Trade Market was set up in 2000 and specializes in new car registrations, second-hand car trading, car imports, second-hand car exports and engineering machinery imports and exports.

The market has developed a mature car services and trade operating system with a good reputation. A slew of functional government departments, including the city's vehicle administrative office, tax bureau and transportation commission have set up service windows at the market, which has brought more convenience to consumers.