Used-vehicle market expands 6% in August

Sales of used light vehicles in China have increased seven straight months, with August volume rising six percent year on year to 1.25 million, according to the China Automobile Dealers Association.

The sustained market expansion came after Beijing prodded provincial governments to ease restrictions on inter-province used-vehicle sales and simplify registration of secondhand cars purchased for private use.

August deliveries of used crossovers and SUVs grew 7.5 percent to roughly 200,600, while sales of secondhand sedans increased 6.1 percent to around 920,700.

Approximately 95,700 multipurpose vehicles changed hands last month, rising 6 percent from a year earlier. 

But demand for used minibuses continued to shrink, dipping 6.1 percent to about 29,800.

In the first eight months, China’s used-car market expanded 13 percent to top 9.5 million, the CADA said.