Market share data from CAAM for December 2024

China's Auto Sales Surge in November with NEV Sales Reaching 1.51 Million Units, Over 40% Share

Dec 11, 2024, 09:03 AM

China's automotive industry experienced significant growth in November, with vehicle production increasing by 11.1% year-on-year to 3.437 million units and sales climbing 11.7% to 3.316 million units, according to data from the China Association of Automobile Manufacturers (CAAM). In the first 11 months of 2024, production rose 2.9% to 27.9 million units, while sales expanded 3.7% to 27.94 million units. Auto exports reached 5.34 million units, up 21.2% during the period, solidifying China's position as a leading vehicle exporter. New Energy Vehicle (NEV) sales reached a record high for the third consecutive month in November, totaling 1.51 million units and capturing over 40% of total auto sales. Tesla sold 21,900 electric vehicles (EVs) in China during the first week of December, marking its strongest weekly performance of the quarter. The Tesla Model Y remains China's best-selling passenger vehicle over the past year. Xpeng Motors reported November deliveries of 11,962 units for its Mona M03 model and 6,950 units for the P7+, with the Mona M03 exceeding 10,000 deliveries for the third consecutive month.