Stock Track | Brilliance China Soars 7% as EV Sales Boom Boosts Automakers

Stock Track11-04

Shares of Brilliance China Automotive Holdings Limited surged 7.38% on Monday, buoyed by robust sales data from major Chinese electric vehicle (EV) makers that fueled investor optimism towards the country's auto sector.

Leading the pack, BYD sold a record 502,757 pure-electric and hybrid EVs in October, up a staggering 66.5% year-on-year. XPeng also set a new monthly sales record with 23,917 EVs delivered, while Leapmotor, Zeekr, and NIO reported their fifth, second, and sixth consecutive months of over 20,000 units sold, respectively.

The stellar sales figures underscore the surging domestic demand for EVs in China, a tailwind for automakers like Brilliance China that have embarked on electrification efforts. As the Chinese auto industry continues its transition towards electric mobility, Brilliance China's positioning as an EV player could drive further upside potential for its stock.

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