Passenger car sales in China saw an 8.3% increase in December, bolstered by a price war among manufacturers, although this was a decline from a significant surge recorded in the previous month.
The Passenger Car Association in China announced today, Tuesday, that vehicle sales reached 2.37 million units in December.
Annual sales increased by 5.3% to 21.93 million vehicles, according to Reuters.
In an industry still dominated by more renowned names like Toyota, Volkswagen, and General Motors, Chinese manufacturers including BYD and SAIC Motor Corp are achieving significant successes. After surpassing the United States, South Korea, and Germany in the past few years, China is now challenging Japan for global leadership in passenger car exports. Out of the 3.6 million cars China exported to the world by October of this year, approximately 1.3 million were electric vehicles.
GOOGL 
AMZN 
MET 
T 
WPM 
DM 
SVM 
CMC 
HKDUSD=X 
BABA 