10 Nov 2023

China’s auto growth is electrifying

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New energy vehicles' (NEV) market penetration continues to rise.
On Wednesday, the China Passenger Car Association released October data showing:

A 10.2% y/y increase in total vehicle sales, beating out September's already impressive 9.5% growth
A 37.5% y/y rise in NEV sales

All told, NEVs represe...