China's used car sales up 3.2% in July

China’s used car sales reached 1.66 million units in July, up 0.2% from June and 3.2% YoY, with a transaction value of RMB 106 billion. Sales between January and July rose 2.17% to 11.23 million units, as summer travel demand and steady trade-in rates offset weather disruptions. NEV penetration in the secondhand market topped 10% for the first time.