China's second-hand vehicle transactions up 6.52% in 2024

BEIJING -- China's second-hand vehicle market recorded steady growth in 2024, with annual transactions climbing 6.52 percent year-on-year to over 19.61 million units, according to data released by the China Automobile Dealers Association on Saturday.

The total transaction value for the year reached approximately 1.29 trillion yuan ($180 billion), the association said.

In December alone, the sector saw robust performance, with sales exceeding 1.9 million units, up 14.4 percent from the same period in 2023 and marking a 6.42 percent increase from November. December transaction revenue stood at about 119.96 billion yuan.