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Gasgoo.com (Shanghai May 7) - 1.08 million second-hand vehicles traded hands in China this past quarter, Auto Weekly reported today. The figure was announced by the China Automobile Dealers Association at a research summit on the automobile market's performance in April held by Chinese market analysis firm Sinotrust last week. According to the CADA's calculations, the volume of the Chinese used car market was 24.67 percent greater last quarter than it was in the first quarter of 2011. The total value of transactions in the market was 53.89 billion yuan ($8.58b), growing 44.17 percent from the previous year.