BEIJING (XINHUA) – China’s used car market was less lively in November due to multiple factors, such as COVID-19 resurgences and unfavourable weather, data from the China Automobile Dealers Association showed.
Last month, over 1.27 million used cars were traded in the country, down 17.18 per cent year-on-year, with the total transaction value nearing CNY76.94 billion, said the association.
During the January-November period, the transaction volume of second-hand cars in China fell 8.49 per cent year-on-year to around 14.61 million units, with sales topping CNY975.57 billion.
The association is upbeat about the second-hand car market in December, noting that rural demand for these cars is expected to increase as the weather cools and autumn harvests end.
