China's used vehicle sales up 12.61 pct in first three quarters

Vehicles run on East Third Ring Road in the morning in Chaoyang District of Beijing, capital of China, Jan. 3, 2023. (Xinhua/Ju Huanzong)

BEIJING, Oct. 22 (Xinhua) -- China's used vehicle sales rose 12.61 percent in the first three quarters of this year, data from the China Automobile Dealers Association showed.

During this period, more than 13.49 million used vehicles changed hands in the country, with a total transaction value of 859.79 billion yuan (about 119.76 billion U.S. dollars), according to the association.

In September alone, some 1.59 million such vehicles were traded in China, up 7.17 percent year on year and 2.07 percent month on month. The total transaction value of the sales hit 104.04 billion yuan.

Most used car dealers are upbeat about the further recovery of the market in October, given that the super-long holiday period covering the Mid-Autumn Festival and the National Day holiday will have further boosted demand.