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China Summons Top Carmakers Over 'Zero-Mileage' Used Vehicles
An anonymous reader shares a report: China's Ministry of Commerce is meeting with some of the country's biggest automakers to discuss whether the industry is using a loophole to mask weakening sales. Reuters adds: It comes after Great Wall Motor's Chairman Wei Jianjun said in an interview with Sina ...
An anonymous reader shares a report: China's Ministry of Commerce is meeting with some of the country's biggest automakers to discuss whether the industry is using a loophole to mask weakening sales. Reuters adds: It comes after Great Wall Motor's Chairman Wei Jianjun said in an interview with Sina Finance last week that a phenomenon called "secondhand cars with zero mileage" had emerged in the Chinese market as a result of the industry's years-long price war. The source said the tactic was seen as a potential method within the industry for automakers and dealers to support new car sales as they try to meet aggressive sales targets.
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