China's used vehicle sales up 7.62% in Q1

China's used vehicle sales rose 7.62 percent year on year in the first quarter of this year, industry data showed.

Some 4.6 million used vehicles were traded in the country during the period, with a total transaction value of 313.96 billion yuan (US$44.18 billion), according to the China Automobile Dealers Association.

In March alone, some 1.71 million used vehicles were traded in China, up 9.12 percent year on year and soaring 42.33 percent month on month.

The total transaction value amounted to about 118.04 billion yuan last month.