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China used vehicle transaction volume up 21.53 percent in H1 2017

BEIJING – The transaction volume of China’s used vehicle in the first half of 2017 reached 5.83 million units, up 21.53 percent year-on-year, with a transaction value of ¥389 billion, according to data released by China Automobile Dealers Association (CADA) on July 24.

Used passenger vehicle transaction volume totaled 3.48 million units, up 20.39 percent, while that of buses hit 610,400 units, up 17.56 percent. Truck transaction volume was 519,900 units, up 6.28 percent.

The proportion of used MPVs, SUVs and other vehicle models increased by 0.93, 0.68 and 1.5 percentage points respectively, compared with the same period of last year.

In terms of the structural feature of the used vehicle market, private vehicles still occupy the majority of the volume with 5.36 million units, of which 60.27 percent were sedans. Of that total, 5.33 million units were domestically-produced while 497,200 units were imported.

Vehicle models of three to six years accounted for 2.55 million units or 43.80 percent of the total transaction volume, while the proportion of vehicle models of less than three years was 24.4 percent.

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