ECONOMY

Wed 15 Mar 2023 10:06 pm - Jerusalem Time

China's used car sales recorded stable growth in July

BEIJING, China (Xinhua) -- Industrial data results showed that China 's used car sector maintained its recovery momentum in July, with a slight increase in sales volume compared to June.


About 1.44 million used cars were traded in July, up 1.88 percent from June despite the relatively traditional off-season for business, according to the China Automobile Dealers Association.


The federation's data showed that used car sales recorded steady growth during the period from April to July.


In the first seven months of this year, about 9.03 million used cars were traded, down 8.74 percent year on year.


In order to facilitate the used car trade as part of the country's efforts to boost consumption, Chinese authorities have directed local governments to scrap policies that impede used car sales across different regions.


A survey of used car dealers showed that sales are likely to continue to rise in August as the effects of bad weather and the emergence of COVID-19 cases subside and related supportive policies come into effect.

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China's used car sales recorded stable growth in July

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