November Passenger Car Sales in China Reach 2.424 Million Units
In November, the passenger car market in China saw impressive retail sales numbers, with a total of 2.424 million units sold. This marked a 7.2% increase from the previous month and a significant 16.6% increase from the same time last year. The cumulative sales from January to November reached 20.258 million units, showcasing the continued strength of the automotive industry in China.
The breakdown of sales by vehicle type showed that sedans accounted for 1.12 million units, SUVs for 1.201 million units, and MPVs for 104,000 units. In comparison, the wholesale volume of vehicles in November was 3.316 million units, indicating a strong retail market performance.
New Energy Vehicle Retail Penetration Rate Exceeds 50%
Notably, the new energy vehicle (NEV) retail penetration rate in China has surpassed 50% for the fifth consecutive month, reaching 52.3% in November. The retail sales volume of NEVs was 1.268 million units, showing a month-on-month increase of 5.9% and an impressive year-on-year increase of 50.5%. In contrast, the retail sales volume of conventional gasoline-powered vehicles stood at 1.155 million units, with a month-on-month increase of 8.0% but a year-on-year decrease of 7.0%.
Top 20 Best-Selling Vehicles in China
| Ranking | Model | November 2024 Sales | YoY Change (%) |
|---|---|---|---|
| 1 | BYD Seagull | 56156 | 38.34 |
| 2 | Tesla Model Y | 44576 | -10.63 |
The BYD Seagull emerged as the top-selling model in November, with over 56,000 units sold. Among gasoline-powered vehicles, only a few models like the Nissan Sylphy, Volkswagen Lavida, and Volkswagen Passat made it to the top 20 list. In total, 79 models surpassed the 10,000 unit mark, with 26 models exceeding 20,000 units and 8 models exceeding 30,000 units.
Market Share Comparison
Despite the increasing popularity of NEVs, conventional gasoline-powered vehicles continued to dominate the market from January to November. Gasoline-powered vehicles recorded retail sales of 10.663 million units, marking a 15.0% year-on-year decrease and holding a 52.6% market share. On the other hand, NEVs saw retail sales of 9.594 million units, a 41.2% year-on-year increase, and a 47.4% market share.
Sources: CPCA, Dongchedi
Edited December 16, 2024, 07:38 EST: included the Changan CS75 Plus as one of the gasoline-powered vehicles that made it to the top 20 list.
