Demand for electric cars increased in China

In China, passenger car sales decreased year-on-year in October, while demand for electric cars increased.

According to data from the China Passenger Car Association (CPCA), total passenger car sales in October decreased by 4.1 percent compared to last year.

Despite the decrease in total sales, electric car sales increased by 141.1 percent year on year.

While 2.14 million electric cars were sold in the country in the 10 months of the year, sales increased by 191.9 percent compared to the same period of the previous year.

In October, 321 thousand electric cars were sold. Chinese automaker BYD became the company with the highest sales with 80,373 units.

The Chinese subsidiary of US electric vehicle manufacturer Tesla sold 13,725 vehicles domestically, while exporting 40,666 vehicles abroad.

The CPCA reported that passenger vehicle sales are expected to increase by 5 percent in 2022.