TALENT MANAGEMENT
THE COMPARISON OF SECOND-HAND CAR MARKET BETWEEN UK AND CHINA
1. Introduction
The emergence of cars brought great convenience to human beings that cars had become the basic traveling vehicle in daily life. In recent years there are hundreds of car brands appeared and the advent of second hand car market made a substantial growth. Second-hand, literally means that the stuff was used by others before (Office of Fair Trading), and customers who choose such product may because of the low price and the specificity. With the development of auto industry, China has become one of the largest automobile producers in the world, and the used car market increased sharply in last decades (Yang 2013). According to a used car industry report, the trading volume of used car in China was about 4.33 millions in 2011 and the percentage of second hand car in the whole auto industry rise smoothly from 2004 to 2010, with the average scale of 5.5 percent and up to about 178 billion RMB in 2010 (2011 China Used Car Industry Development Report, 2011). Additionally, second hand cars are more popular among the world, for instance, considering the price, product, promotion and place of a car, the used car seems like a more cost efficient product considering the depreciation, diversity and the price. Additionally, customer behavior would improve the sales of second hand car somehow.
With the development of car industry, consumers attain more choices among different types of cars. However, there are national differences between China and other countries. China as a developing country experienced a dramatically economic growth in the last three decades since the ‘reform and opening-up’ policy (Stéphane 2001), which has grown at a higher rate than some developed country such as UK. On the other hand, UK is considered as a typical developed country with a mature and booming car market (Milne 2013). Therefore, considering the economic and social background
1. Introduction
The emergence of cars brought great convenience to human beings that cars had become the basic traveling vehicle in daily life. In recent years there are hundreds of car brands appeared and the advent of second hand car market made a substantial growth. Second-hand, literally means that the stuff was used by others before (Office of Fair Trading), and customers who choose such product may because of the low price and the specificity. With the development of auto industry, China has become one of the largest automobile producers in the world, and the used car market increased sharply in last decades (Yang 2013). According to a used car industry report, the trading volume of used car in China was about 4.33 millions in 2011 and the percentage of second hand car in the whole auto industry rise smoothly from 2004 to 2010, with the average scale of 5.5 percent and up to about 178 billion RMB in 2010 (2011 China Used Car Industry Development Report, 2011). Additionally, second hand cars are more popular among the world, for instance, considering the price, product, promotion and place of a car, the used car seems like a more cost efficient product considering the depreciation, diversity and the price. Additionally, customer behavior would improve the sales of second hand car somehow.
With the development of car industry, consumers attain more choices among different types of cars. However, there are national differences between China and other countries. China as a developing country experienced a dramatically economic growth in the last three decades since the ‘reform and opening-up’ policy (Stéphane 2001), which has grown at a higher rate than some developed country such as UK. On the other hand, UK is considered as a typical developed country with a mature and booming car market (Milne 2013). Therefore, considering the economic and social background
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