China’s used car sales see increase in August

China’s second-hand car sector saw an increase in sales in August, logging month-on-month sales growth from July despite the disruptions of hot, rainy weather and the COVID-19 resurgences, industry data showed.

Last month, over 1.46 million used cars found a new owner in China, an increase of 1.69 percent month on month, according to the China Automobile Dealers Association.

The transaction value of the sales totaled 95.66 billion yuan ($13.8 billion) during the period, up from 95.50 billion yuan in July.

In the first eight months, 10.5 million second-hand cars were traded in China, a drop of 7.86 percent year on year.

The country’s used car sales saw a continuous increase in the April-August period, according to the association, highlighting demand recovery in first-tier cities and neighboring regions last month as the country facilitated the cross-regional transfer of second-hand automobiles.