Overview
- Passenger‑vehicle retail sales reached 2.225 million in November, down 8.1% year on year and 1.1% month on month, with year‑to‑date retail up 6.1%, according to the China Passenger Car Association.
- New energy vehicle retail sales rose 4.2% year on year to 1.321 million and 3.0% month on month, lifting domestic NEV penetration to 59.3%.
- Conventional fuel vehicles fell 22% year on year, while battery‑electric grew 9.2%, range‑extended declined 4.3%, and plug‑in hybrids slipped 2.8%, with new‑energy startups’ mix shifting to 73% BEV from 57% a year earlier.
- Automakers’ production, exports, and wholesale volumes set November records, and overall passenger‑car exports reached an all‑time monthly high.
- CPCA expects strong NEV retail in December as buyers accelerate purchases before a higher purchase‑tax burden next year, with carmakers offering temporary tax‑offset deals and consumers prioritizing faster deliveries.