Loss about $700 on selling a vehicle; Second-hand dealers can’t sell a single car a month.

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Loss about 0 on selling a vehicle; Second-hand dealers can’t sell a single car a month.

The China Passenger Car Association (CPCA) released a report on July 8 stating that consumers’ willingness to spend is sluggish due to China’s sluggish economic recovery. Although the government introduced financial subsidies in April to encourage the trade-in of passenger cars, the effect has been insignificant in recent months.

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