China's used car sales soar 25.95% in May

BEIJING-- China's used vehicle sales surged 25.95 percent year-on-year in May, data from the China Automobile Dealers Association showed.

About 1.5 million used vehicles changed hands in the country last month, with a total transaction value of 93.24 billion yuan ($13.08 billion), according to the association.

During the January-May period, around 7.24 million second-hand vehicles were traded in China, up 17.29 percent from the same period last year.

The total transaction value of these traded stood at 454.38 billion yuan, the data revealed.