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Electric Cars Lead as China Auto Sales Rise for Fifth Month

  • Optimism growing that historic two-year slump is over
  • EVs from Tesla, rivals outpacing conventional autos in growth
Media Tour of Nio Inc. Electric Vehicle Production Plant
Photographer: Qilai Shen/Bloomberg
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Auto sales rose for a fifth straight month in China, fueling optimism that a two-year slump in the world’s largest market is over as the coronavirus pandemic eases and demand for electric cars from the likes of Tesla Inc. grows.

Retail sales of cars, SUVs and multiple-purpose vehicles gained 7.8% from a year earlier to 2.11 million units in November, China Passenger Car Association said Tuesday. Wholesales of new energy vehicles, including electric autos, more than doubled to 169,000 units.