China's passenger car sales experienced a slowdown in October, with growth falling to 4.4% year-on-year compared to higher figures in previous months. This deceleration impacts even major electric vehicle manufacturers like BYD and Tesla, with Tesla's sales in China dropping significantly by nearly 36% in October. The decline is attributed to the phasing out of government incentives, including trade-in subsidies in some regions, and the anticipated halving of tax exemptions for electric and hybrid vehicles starting next year.
The reduction in government support,... download the app to read more
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