China's used car market less lively amid COVID-19 resurgences

BEIJING -- 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.

Last month, more than 1.27 million used cars were traded in the country, down 17.18 percent year-on-year, with the total transaction value nearing 76.94 billion yuan (about $11.02 billion), said the association.

During the Jan-Nov period, the transaction volume of second-hand cars in China fell 8.49 percent year-on-year to around 14.61 million units, with sales topping 975.57 billion yuan.

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.