China‘s used car market expands #Shorts

China‘s used car market expands #Shorts
China’s used car market has been growing steadily and is expected to reach 16 million units this year. The China Automobile Dealers Association says a total of 1.5 million used cars were sold in August, marking a 12 percent growth year on year. Microchip shortages have led to a reduction in the production of new vehicles and so increased demand in the used car market. Xiao Zhengsan, secretary-general of the auto association says he expects used car sales to grow by more than 12 percent this year, and exceed those of 2019, when the market had not been affected by the COVID-19 pandemic.
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