China’s used light-vehicle market has fully recovered from the negative impact of the coronavirus outbreak that ravaged the country in early 2020, with sales in the first quarter far exceeding the level in the same 2019 period.
In the first three months of 2021, deliveries of used light vehicles such as sedans, crossovers, SUVs, multipurpose vehicles and minibuses approached 3.14 million, according to data the China Automobile Dealers Association released this week.
While volume nearly doubled compared with the virus-stricken first quarter of 2020, the tally represents a jump of 26 percent from the first quarter of 2019.
The strong recovery was led by secondhand sedans. In the first quarter, more than 2.4 million used sedans changed hands, surging 97 percent and 104 percent from the same periods in 2020 and 2019, respectively.
By contrast, China’s new light-vehicle market has yet to fully rebound from the impact of the pandemic.
In the first quarter, while rebounding 75 percent from a year earlier to nearly 5.08 million, sales of new light vehicles dropped 3.6 percent from the same period in 2019, according to data the China Association of Automobile Manufacturers disclosed earlier last week.