China's used car market was less lively in November due to multiple factors, such as COVID-19 resurgences and unfavorable weather, data from the China Automobile Dealers Association showed. This was reported by The Xinhua News Agency.
Last month, more than 1.27 mln used cars were traded in the country, down 17.18% year-on-year, with the total transaction value nearing ¥76.94 bln (about $11.02 bln), said the association.
During the Jan-Nov period, the transaction volume of second-hand cars in China fell 8.49% year-on-year to around 14.61 million units, with sales topping ¥975.57 bln.
The association is upbeat about the second-hand car market in December, noting that rural demand for these cars is expected to increase as the weather cools and autumn harvests end.
Consumption at the county and township levels will continue to recover and become one of the main driving forces of the market in the future, the association said.
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