Source: Tech – South China Morning PostBeijing has stepped in to monitor the trading of used cars as mainland China’s automotive sector, saddled with overcapacity, is under pressure to improve profitability amid an escalating price war.
On Tuesday afternoon, the Ministry of Commerce gathered industry groups, major carmakers and trading platforms for second-hand cars to discuss issues surrounding the sale of “used vehicles with zero mileage”, according to Reuters.
The ministry was seeking to stabilise car prices in the world’s largest…Read More