China’s Automobile Production and Sales Reach New Heights in November
In November, China’s automobile production and sales hit record numbers, with 3.437 million units produced and 3.316 million units sold. This marks a significant increase of 14.7% and 8.6% month-on-month, and 11.1% and 11.7% year-on-year, respectively, according to the China Association of Automobile Manufacturers (CAAM). The cumulative production and sales for the first 11 months of 2024 stand at 27.903 million and 27.94 million units, showing a steady year-on-year growth of 2.9% and 3.7%, respectively.
Specifically, domestic automobile sales in November reached 2.826 million units, up 12.5% from the previous month and 13.6% from the previous year. On the other hand, automobile exports reached 490,000 units, showing a decrease of 9.5% from the previous month but an increase of 1.6% from the previous year. The total domestic automobile sales for the first 11 months of the year reached 22.595 million units, a slight increase of 0.3% from the previous year, while automobile exports reached 5.345 million units, showing a significant increase of 21.2% from the previous year.
| Vehicle Type | Production Volume | Y-on-Y (%) | Sales Volume | Y-o-Y (%) |
| BEV | 94.3 | 29.7 | 90.8 | 29.3 |
| PHEV | 62.3 | 79.7 | 60.4 | 86.8 |
| FCV | 0.0393 | -45.5 | 0.0381 | -41.1 |
In the new energy vehicle (NEV) market, both production and sales saw a significant increase in November, reaching 1.566 million and 1.512 million units, respectively. This represents a month-on-month increase of 7.1% and 5.7%, and a year-on-year increase of 45.8% and 47.4%, respectively. NEV sales accounted for 45.6% of total new vehicle sales in November. Cumulatively from January to November, NEVs saw a growth of 34.6% in production and 35.6% in sales, with a 40.3% share of total new car sales.
In the passenger vehicle market, BYD emerged as the wholesales champion in November, with 504,000 units sold, followed by Chery and Geely in second and third places. BYD’s cumulative sales for the first 11 months of the year reached 3.7573 million vehicles, showing a remarkable year-on-year increase of 40.02%.
Furthermore, among the top ten vehicle exporters, BYD, Changan, and BAIC stood out in terms of growth rate. BYD exported 363,000 vehicles with a 68% year-on-year increase, while Changan exported 505,000 vehicles with a 54.8% increase, and BAIC exported 248,000 vehicles with a 51.9% increase.
