TSLA - China auto sales rise 12.5% in October as virus eases

Vehicle sales in China including trucks and buses rose 12.5% Y/Y in October as the industry recovered from the coronavirus. However, the sales were down from September’s 17.4%. Sales in the biggest global auto market surged to 2.6M. Passenger vehicle sales rose 9%, with some automakers booking double-digit growth. Commercial vehicles sales increased 30%.Sales of new energy vehicles which include pure battery EVs, fuel-cell cars and plug-in hybrids surged 105% to 160,000, and are expected to rise to about 1.1M units this year, according to China Association of Automobile Manufacturers.In the year through October, total vehicle sales declined 4.7% to 19.7M from a year earlier. This was an improvement from the contraction of 6.9% till Jan - Sept 2020.The fourth straight monthly gain in the world’s largest car market adds to optimism that a slump that lasted for more than two years is over.Contenders such as market leader Volkswagen AG and Toyota Motor

For further details see:

China auto sales rise 12.5% in October as virus eases