1. The number of used cars in Shanghai is huge, and the supply exceeds demand, which leads to the situation that the second-hand market in Shanghai is dominated by buyers.
2. As the most developed city in China, many old car owners will change their vehicles frequently when the economy allows, and the used cars that are no longer used will be put into the second-hand market, resulting in more and more used cars for sale. Because Shanghai's economy is developed, the demand for used cars is relatively small, and drivers with relatively affluent economy will choose to buy first-hand cars instead of used cars. The imbalance between supply and demand of used cars leads to the low price of used cars in Shanghai.