China's used vehicle sales up 14.65 pct in first 11 months

BEIJING -- Sales of used vehicles in China increased 14.65 percent year on year in the first 11 months of 2023, data from the China Automobile Dealers Association shows.

More than 16.75 million second-hand vehicles were sold over the period, with a total transaction value of 1.07 trillion yuan (approximately $151 billion).

Sales of used passenger vehicles increased 14.51 percent over the same period, while sales of used commercial vehicles increased 9.75 percent.

In November, the used vehicle sales reached 1.65 million units, gaining 2.64 percent month on month and 29.18 percent year on year. The total transaction value of these sales was around 107 billion yuan, according to the association.