Chinese Auto Sales Increase by 10% in October, Exports Surge 50%; Car Sales Expected to Rise by 20% in November

Electric and hybrid vehicles account for 37.5% of total sales, as China's top automaker BYD beats Tesla with nearly 64,000 new energy vehicle sales amidst industry's effort to achieve annual sales goals.

China's car sales rose by 10.2% in October, with an expected 20% increase in November, as manufacturers strive to meet annual sales targets.
Electric and hybrid vehicles accounted for 37.5% of total sales in October, reflecting a growing consumer preference for such models in China.
BYD led new energy battery of electric vehicle sales, outperforming Tesla with nearly 64,000 sales of its Song model, contributing significantly to the 767,000 electric and hybrid vehicles sold in October.
Exports of passenger cars surged by 50% this year to over 3 million units, a significant increase from previous years.
Despite weaker demand for electric vehicles in China due to preference for more economical plugin hybrids, companies such as BYD and Li Auto are gaining market share.