China Cracks Down on Zero-Mileage Used Car Sales

In a strongly worded article, China's Communist Party has denounced the practice of selling brand new cars labelled as second-hand vehicles to clear inventory, according to The People's Daily.

The paper, a mouthpiece for the government, highlighted the detrimental effects of this strategy, including disrupted market order and inflated sales data as Chinese automakers engage in aggressive price cutting. The article calls for strict regulatory actions.

Amidst economic pressures, with sectors seeing price cuts due to oversupply, the paper advocates for oversight mechanisms to curb the negative impact on manufacturers and consumers alike, while urging a shift towards quality and innovation in the auto industry.

(With inputs from agencies.)