China's auto sales rise 8.8% in first half of 2023, but growth is fading as economy cools

An industry group says China’s auto sales rose 8.8% over a year earlier in the first half of 2023 as electric vehicle purchases surged. But growth is fading as an economic rebound following the end of anti-virus controls cools. The China Association of Automobile Manufacturers says sales of SUVs, sedans and minivans rose to 11.3 million in January-June. Sales of gasoline-electric hybrid and pure-electric vehicles rose 44% in the first six months of 2023 to 3.7 million. The upturn was a relief for global automakers that look to China to propel sales growth and are pouring billions of dollars into developing electrics to meet government sales quotas.