Sales of used cars hit 75,000 units in June

Shanghai, July 25 (Gasgoo.com) The sales of used vehicles in big Chinese cities only hit 75,000 units in June, of which 18,000 units were sold in Beijing, down 11% over the previous month, reported Shanghai Securities News today.

The report said that last month there were only about 75,000 used cars sold in Beijing, Shanghai, Guangzhou, Chengdu, Shenzhen and other major Chinese cities, with the sales sliding from May.

Of the total of used car sales in June, about 18,000 second-hand vehicles were sold in Beijing, down 11% month on month (m/m), 18,000 units in Shanghai, down 11% m/m, and 20,000 units in Guangzhou, down 15% m/m.

According to earlier data, the May sales of second-hand cars in China slid from April sales, but saw a certain growth over one year earlier. In May, there were about 80,000 used vehicles sold in such major Chinese cities as Shanghai, Beijing, Guangzhou, Chengdu, and Shenzhen.

In recent years, the sales of used economical sedans have grown more and more rapidly in China's auto market. The expanding new rich groups in Chinese cities are seen as the main sources of "new" used sedans for sale. These people have an insatiable desire for the latest premium cars.