China's used-car sales rise 15% through July
Sales of used cars rose in China nearly 15 percent to 2.3 million units in the first seven months of the year, reported the Shanghai Daily, citing the China Automobile Dealers Association.
The second-hand market generated sales of 10.6 billion yuan ($1.7 billion), up 12 percent from the year-ago period.
Sales of used cars outstripped new-car sales, which rose 2.3 percent through July.
Shen Rong, the association's vice secretary-general, told Shanghai Daily that rising used-car sales will trigger a consolidation among used-car dealers as larger companies exploit economies of scale.
