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China's used car sales maintain expansion in August

Xinhua | Updated: 2022-09-19 10:25

This photo shows a used car market in Zhengzhou, Henan province, on Sept 3, 2021. [Photo/IC]

BEIJING -- China's second-hand car sector continued an upward trend in August, logging month-on-month sales growth from July despite the disruptions of hot, rainy weather and the COVID-19 resurgences in some parts of the country, industry data showed.

Last month, over 1.46 million used cars changed hands in China, up 1.69 percent month-on-month, according to the China Automobile Dealers Association.

The transaction value of the sales totaled 95.66 billion yuan ($13.8 billion) during the period, up from 95.50 billion yuan in July, the data showed.

In the first eight months, 10.5 million second-hand cars were traded in China, down 7.86 percent year-on-year.

The country's used car sales saw continuous growth in the April-August period, said the association, highlighting demand recovery in first-tier cities and neighboring areas last month as the country facilitated the cross-regional transfer of second-hand vehicles.

The association is upbeat about the market in September, expecting a sales increase driven by the effective control of the epidemic and the implementation of favorable policies for the sector.

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