China auto sales rise 12.5% in October, 7th straight monthly gain
Vehicle sales in China rose 12.5% in October from the same month a year earlier, the seventh straight monthly rise as the world's biggest vehicle market leads the global industry in recovering from lows hit during the Covid-19 pandemic.
Sales reached 2.57 million vehicles last month, data from the China Association of Automobile Manufacturers (CAAM) showed.
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Sales of new energy vehicles (NEVs) surged 105% to 160,000, their fourth consecutive month of gain. NEVs include battery-powered electric, plug-in petrol-electric hybrid and hydrogen fuel-cell vehicles.
This time of year, known as "Golden September, Silver October", is typically a highpoint in sales for the industry, a time when consumers make purchases after staying away from showrooms during the stifling summer months.