China's Auto Market Correction: Clarifications and Regulatory Moves

China's leading auto industry association has corrected its previous report on alleged plans by the industry ministry to ban the resale of cars within six months of their initial registration. The report, deemed 'inaccurate,' has been revised to reflect the current regulatory stance.

Auto Review, a media outlet of the China Association of Automobile Manufacturers, issued a statement confirming inaccuracies about the Ministry of Industry and Information Technology's role and intentions regarding zero-mileage used cars. The corrected article outlines MIIT's intent to regulate these vehicles appropriately with relevant authorities.

The publication also revised claims about a proposal from the China Automobile Dealers Association regarding a code system for used car exports. This amendment points to a proposed mechanism without further details. The article noted companies like Chery and BYD plan to enforce regulations on dealers licensing cars before official sales.

(With inputs from agencies.)