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China’s used vehicle sales up 18.48 percent in H1 2012

BEIJING – China’s used vehicle sales totaled 2.31 million units in the first half of 2012, up 18.48 percent year-on-year, reported Beijing Business Today citing data released by China Automobile Dealers Association (CADA).

The data showed the used vehicle transaction volume rose 28.17 percent to a total of ¥112.9 billion ($17.72 billion) during this period.

According to the data, used cars and SUVs saw a respective growth of 24.9 and 37.41 percent in sales to 1.28 million and 46,000 units in the first six months of the year; while used buses and trucks, at 378,400 and 343,500 units respectively, were up 23.41 and 10.14 percent on a yearly basis.

In June alone, China sold 399,200 used vehicles, up 4.23 percent year-on-year, with sales volume at ¥18.96 billion.

Except North China which saw used vehicle sales increase by 5.83 percent in June, all regions experienced a sales drop with different levels in the month.

“The combined sales of used vehicles in China are expected to rise 20 percent to 6.5 million units in 2012,” said Luo Lei, deputy secretary of CADA.

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