The Chinese Commerce Ministry summoned car manufacturers and industry bodies to talk about the increasing sales of "used cars" that have never been driven, Reuters reported Tuesday, citing people familiar with the matter.
The development comes after Great Wall Motor (HKG:2333, SHA:601633) Chairman Wei Jianjun talked about the emergence of "secondhand cars with zero mileage" because of price competition during an interview with Sina Finance, the report said.
The phenomenon involves cars that had been given license plates, marking them as sold, but were never driven, thereby making them eligible for the secondhand market, Reuters said.
At least 3,000 to 4,000 vendors on Chinese secondhand car platforms are selling such automobiles, according to the report.
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