China's car sales decline in Oct

Bangkok: China's passenger car sales slowed in October, even for electric vehicle makers BYD and Tesla, as automakers cut prices to compete in an overcrowded market, an industry association said Tuesday. The China Association of Automobile Manufacturers said that sales grew 4.4 per cent year-on-year, down from September's 11.2 per cent increase and a 15.1 per cent jump in August.

But exports of EVs and plug-in hybrids doubled from a year earlier, to about 250,000, as automakers expanded further into overseas markets. Vehicle sales in China, the world's biggest market for sales, got a boost in the past couple of years from government trade-in programs meant to encourage drivers to switch to EVs.

Some Chinese cities and provinces have in recent months cut trade-in subsidies. An extension of such big subsidies next year is uncertain. China is also expected to halve its tax exemption for electrics and hybrids starting next year.

Tesla's sales in China fell nearly 36 per cent last month from a year ago, to 26,006 vehicles, according to the China Passenger Car Association (CPCA).