Spurred by light trucks, China’s used-vehicle sales continued to grow in 2019, increasing 8 percent to exceed 14.9 million, in sharp contrast to the protracted downturn in the new-vehicle market.
The growth was led by strong demand for secondhand crossovers, SUVs, multipurpose vehicles, trucks and minibuses, according to figures the China Automobile Dealers Association released this week.
Last year, sales of used crossovers and SUVs surged 30 percent to nearly 1.5 million while deliveries of secondhand MPVs jumped 22 percent to 957,200.
Used-minibus deliveries advanced 20 percent to 373,500 while used-truck sales rose 12 percent to approach 1.4 million. Secondhand sedan deliveries also gained 4.8 percent to top 8.6 million.
By contrast, used-bus sales dropped 3.7 percent to about 1.4 million.
The rest of the used-vehicle sales were low-speed mini trucks.
In 2019, the share of used vehicles less than three years old gained 0.93 percentage point to grow to 24.8 percent while the share of vehicles 10 years or older edged up 0.76 percentage point to 11.6 percent.
Meanwhile, the proportion of vehicles three to six years old dipped 1.49 percentage points to 41.2 percent while that of vehicles aged seven to 10 years slid 0.19 percentage point to 22.4 percent.