Used Car Sales in China Reach $13.8 Billion in August

Used Car Sales in Cinde Reach Billion Dollars in August
Used Car Sales in China Reach $13.8 Billion in August

China's used car sector continued its upward trend in August, recording monthly sales growth since July, despite the interruption of hot and rainy weather and the Kovid-19 revival in some regions.

According to the China Automobile Dealers Association, more than 1,46 million used vehicles were sold in China last month. This figure shows an increase of 1,69% compared to the previous year. The data showed that the sales transaction value reached 95.5 billion yuan (about $95,66 billion) in August, from 13,8 billion yuan in July.

The eight-month performance of the used car market, on the other hand, decreased by 7.8 percent compared to the previous year and remained at 10,5 million. Noting that the country's second-hand vehicle sales recorded steady growth in the April-August period, the Association underlined the recovery in demand in first-tier cities and neighboring regions last month, as the country facilitated the inter-regional transfer of second-hand vehicles. The Association is optimistic about the market in September and expects sales to increase with the effective control of the epidemic and the implementation of positive policies for the sector.

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