China's used car market less lively as COVID-19 bites

China's used car market was less lively in March as domestic COVID-19 cases forced some used car companies to temporarily halt business, according to the China Automobile Dealers Association.

Last month, 1.32 million used cars were traded nationwide, down 15.99 per cent year on year, with the transaction value reaching 91.13 billion yuan (about 14.24 billion U.S. dollars), the association said.

During the first quarter, the transaction volume of used cars fell 1.93 per cent year on year to 3.88 million units. Sales totaled 272.68 billion yuan.

As the fallout from the COVID-19 pandemic lingers, the country's used car market will remain less upbeat in the near future. The transaction volume is expected to drop by over 10 per cent year on year in April, the association said. (ANI/Xinhua)

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor