In November, Chinaβs automobile production and sales reached 3.437 million and 3.316 million units, respectively; up 14.7% and 8.6% month-on-month, and up 11.1% and 11.7% year-on-year, respectively, according to the ChinaΒ Association of Automobile Manufacturers (CAAM). In the first 11 months of 2024, the cumulative automobile production and sales are 27.903 million and 27.94 million units, respectively; up 2.9% and 3.7% year-on-year, respectively.
Specifically, in November, domestic automobile sales reached 2.826 million units, up 12.5% ββfrom the previous month and 13.6% from the previous year; automobile exports reached 490,000 units, down 9.5% from the previous month and up 1.6% from the previous year. From January to November, domestic automobile sales reached 22.595 million units, up 0.3% from the previous year; automobile exports reached 5.345 million units, up 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, the monthly production and sales reached 1.566 million and 1.512 million units, respectively; up 7.1% and 5.7% month-on-month, and up 45.8% and 47.4% year-on-year, respectively. NEV sales accounted for 45.6% of total new vehicle sales. From January to November, the cumulative production and sales of NEVs reached 11.345 million and 11.262 million units, up 34.6% and 35.6% year-on-year, respectively. The sales of NEVs accounted for 40.3% of the total cumulative new car sales.
In the passenger vehicle market (sedan, MPV, SUV, & minivan), BYD claimed the wholesales champion with 504,000 units sold in November, followed by Chery and Geely in second and third places, according to the China Automobile Dealers Association (CADA). According to the production and sales data released by BYD, its cumulative sales in the first 11 months were 3.7573 million vehicles, a year-on-year increase of 40.02%.
Furthermore, from January to November, among the top ten vehicle exporters, in terms of growth rate, BYD exported 363,000 vehicles, a year-on-year increase of 68%; Changan exported 505,000 vehicles, a year-on-year increase of 54.8%; BAIC exported 248,000 vehicles, a year-on-year increase of 51.9%.
Source: CADA, CAAM
