The residual value of used Chinese cars is still lower than that of the departed European and Japanese brands. However, the gap is gradually narrowing. This was reported to the AUTOSTAT agency by Roman Titov, Deputy General Director for Used Cars at Avilon Group of Companies.
According to him, the situation is influenced by two key factors. Firstly, Chinese brands do not yet have long-term statistics on the reliability of specific models. Secondly, the supply of such cars is growing in the secondary market, which also affects prices.
David Pavlov, head of Major Expert, noted that the lower residual value of "Chinese" cars is a natural process for brands that are just conquering the market. Japanese and European cars retain their price thanks to decades of established reputation. Chinese manufacturers still have to build customer trust.
At the same time, Alexander Kovalev, founder of the Mekhanika external press service for the auto business, believes that in the short term — within two or three years — Chinese cars are already quite comparable in residual value to global counterparts.