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The China Passenger Car Association Sales reported on Wednesday that passenger car sales rose 10.2% year-over-year in October. The jump in China auto sales was aided by a higher level of promotions during the month and the comparison to a year ago when production was still being impacted by COVID shutdowns. Notably, exports were up 50% during the month. So far this year, auto sales in China have climbed 3.2% to just under 17.3M units.
Sales of electric and hybrid vehicles climbed 37.5% from a year earlier to account for 767K of the 2.03M vehicles sold in October. Chinese automaker BYD Company Limited (OTCPK:BYDDF) was the leader in sales of new energy battery of electric vehicles by far, with 63,965 Song model sedans its best seller during the month. Tesla (NASDAQ:TSLA) delivered 47,164 Model Y vehicles and 24,951 Model 3s made at its Shanghai plant during the month, per CPCA data.
Auto watch: Nio (NIO), XPeng Inc (XPEV), Li Auto (LI), Nio (NIO), BYD (OTCPK:BYDDY), Tesla (TSLA), Lucid Group (LCID), Volkswagen (OTCPK:VLKAF), Toyota (TM), Honda (HMC), BMW (OTCPK:BMWYY), Nissan (OTCPK:NSANY), Ford (F), General Motors (GM), Great Wall Motor (OTCPK:GWLLF), Wuling Motors Holdings Limited (OTCPK:WLMTF), Geely Automobile (OTCPK:GELYF), Guangzhou Automobile Group (OTCPK:GNZUF), BAIC (OTCPK:BCCMY), Zotye, Lynk & Co., Zeeker, state-owned SAIC Motor, Chery and Dongfeng Motor (OTCPK:DNFGY).
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November 08, 2023 at 07:40PM
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China auto sales soar in October off strong electric vehicle demand (NASDAQ:TSLA) - Seeking Alpha
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