China's used vehicle sales up 7.62% in Q1

BEIJING -- China's used vehicle sales rose 7.62 percent year-on-year in the first quarter of this year, industry data showed.

Some 4.6 million used vehicles were traded in the country during the period, with a total transaction value of 313.96 billion yuan ($44.18 billion), according to the China Automobile Dealers Association.

In March alone, some 1.71 million used vehicles were traded in China, up 9.12 percent year-on-year and soaring 42.33 percent month-on-month.

The total transaction value amounted to about 118.04 billion yuan last month.