China's used vehicle sales up 14.68% in April

0 Comment(s)Print E-mail Xinhua, May 20, 2024
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Vehicles run on East Third Ring Road in the morning in Chaoyang District of Beijing, capital of China, Jan. 3, 2023. [Photo/Xinhua]

China's used vehicle sales jumped by 14.68 percent year on year in April, industry data showed.

About 1.68 million used vehicles were traded in the country last month, with a total transaction value of 111.1 billion yuan (about 15.64 billion U.S. dollars), according to the China Automobile Dealers Association.

It attributed this rapid sales expansion to the growth of consumer demand and business promotion activities, as well as the country's policy support for trade-ins of consumer goods.

In the first four months of this year, around 6.28 million used vehicles changed hands in China, up 9.42 percent year on year, the data revealed.

The association expected a higher transaction volume in the used vehicle market in May, driven by the further implementation of trade-in promotion policies, increased local promotion activities, and auto shows.

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