The second-hand car market is heating up. From luxury brand to online traders, everyone is vying for a share of this emerging market. Our reporter Huang Rui takes a closer look.

聽力文本:

The new car sales volume of Mercedes-Benzes from January to October rose 52 percent year-on-year. Despite its stellar performance in new car sells, the company has entered China's premium used-car market with full force. With its StarElite Pre-Owned Program, Mercedes-Benz aims to become a champion in the second-hand car market.

Christian Schr?ter is a senior manager of Mercedes-Benz China Ltd.

"In the U.S., there are 77 percent of old cars sold, pre-owned cars. And also in Europe, this rate is significantly higher than two-thirds of the market. In China, currently it's just 22 percent, so that we see the same development as in other markets also coming to China."

The company says second-hand cars sold under its StarElite program will be less than four years old and have fewer than 100 thousand kilometers on their odometers.

It also will provide buyers free routine maintenance for cars that have been driven 20 thousand kilometers or less.

"We are offering certified cars, and we are offering customers—new customers—entry into the world of Mercedes-Benzes."

The company plans to open 30 StarElite pre-owned car sales centers in China next year.

Japanese carmaker Nissan is also entering the lucrative market. It has invested 5 million yuan to build the biggest secondhand car trading center in China.

The trade volume of second hand car increased by 32 percent in the first three quarters of the year compared to the same period last year. As the market for second-hand cars grows in China, many wonder what can be done to improve it.

A professional second-hand car website called 51 Autos recently started an online bidding service. It allows car owners to price their used vehicles and lets potential buyers bid against each other.

Li Haichao, President and CEO of 51 Auto, says:

"With the launch of our platform, we can have more transparency and fairness in the trade. We can reduce irregularities in the market, and hence dispel the doubts of many customers. It will certainly boost the market."

Industry analysts say although the second-hand auto market is still in its infancy in China, many car companies will compete ferociously to get a piece of the pie.

For China Drive, this is Huang Rui.