Chinese auto sales spike 10% in October from last year, AP reports

Amid an increase in Chinese consumers’ demand for electric and hybrid vehicles and promotions, sales of passenger cars there jumped over 10% in October compared to last year, reports the AP, citing a report from the China Passenger Car Association. The environment is better for car sales compared to 2022 “when China was grappling with factory shutdowns and other disruptions from the COVID-19 pandemic,” noted the AP. The fly notes that Tesla (TSLA), Toyota (TM) Volkswagen (VWAGY) ,Honda (HMC), Nissan (NSANY) Li Auto (LI) and XPeng (XPEV). https://apnews.com/article/china-auto-vehicle-sales-tesla-2d7d88d6696ac1eeabe2976b97c63ea5