China reports rising second-hand car sales
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E-mail Xinhua, May 19, 2019
China's second-hand car sales volume climbed 4.3% year-on-year in April, according to the China Automobile Dealers Association.
The pace went up steadily over the past four months, rising from 3.42% in March and 1.68% in February, the association said in a market analysis report.
More than 1.2 million used cars were traded in China last month, with the total value reaching 74.5 billion yuan (about US$10.8 billion).
Sales of various types of second-hand vehicles dropped slightly in April on a monthly basis, but posted increases from a year earlier, the association said.
About 690,000 basic passenger cars were traded last month, with a monthly decline of 3.31% but a 1.93% increase from the previous year, while trading of SUVs reported a month-on-month decrease of 3.5 percent but jumped 5.78% on a yearly basis.
The association attributed the slight contraction of the second-hand car market in April to automobile exhibitions of new cars across the country and the rebound of used car trading in March.
Meanwhile, China launched exports of second-hand cars earlier this month, with Beijing, Tianjin, Shanghai and Guangdong among the first batch of 10 regions allowed to conduct such trade, according to a statement from the Ministry of Commerce.
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