Shares of Chinese automakers are rallying on strong passenger car sales last week

 

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Xpeng Motors is surging 11.5%, Nio and Li Auto gaining about 5%, Leapmotor and Great Wall Motors up more than 3%.

Data released by the China Passenger Car Association showed that retail sales of passenger cars in China reached 542,000 units in the week of Dec 12 - 18, rising 18% from a year earlier, up 44% from the previous week, and rising by 56% from the same period last month.

Wholesales volume of passenger vehicles reached 479 million . . .

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