China's used car sales continue steady expansion in March

BEIJING -- China's used automobile sales continued to rise steadily in March, data from the China Automobile Dealers Association shows.

Last month, about 1.57 million used vehicles changed hands in the country, surging 18.9 percent from the same period last year and up 7.4 percent from February, according to the association.

In the first quarter of this year, more than 4.27 million second-hand vehicles were traded in China, jumping 10.18 percent year on year.

The implementation of China's policies on encouraging large-scale and standardized business operations in the sector will promote the healthy growth of the market, said the association. It also emphasized the role of the ongoing 20th Shanghai International Automobile Industry Exhibition in boosting China's auto consumption.

The association made a positive forecast for the used car market, noting the gradual recovery of consumption and business confidence will lead the market into an upward cycle.