1,522
December 17, 2024, 2:32 PM
The latest data released by the China Automobile Association shows that in November, China's automobile production and sales reached 3.437 million and 3.316 million respectively, a month-on-month increase of 14.7% and 8.6% respectively, and a year-on-year increase of 11.1% and 11.7% respectively. Monthly production and sales hit a record high. From January to November, China's automobile production and sales completed 27.903 million and 27.94 million respectively, year-on-year increases of 2.9% and 3.7% respectively. The growth rate of automobile production expanded by 1.1 percentage points from January to October, and the growth rate of sales expanded by 1 percentage point. In November, the popularity of the automobile market continued, the effect of the old-for-new policy continued to show, and demand for car purchases was further released. Analyze the production and sales situation of different models:
The monthly production and sales of passenger cars exceeded 3 million for the first time in a single month
Driven by policies, the production and sales of passenger cars in China also exceeded 3 million for the first time in November. Data from the China Automobile Association shows that in November, the production and sales of passenger cars in China reached 3.109 million and 3.001 million respectively, a month-on-month increase of 14.9% and 9% respectively, and a year-on-year increase of 14.9% and 15.2% respectively. From January to November, the production and sales of passenger cars in China reached 24.459 million and 24.435 million respectively, year-on-year increases of 4.3% and 5% respectively. Among them, the cumulative sales of passenger cars in China were 19.916 million, a year-on-year increase of 1.9%; the export of passenger cars was 4.52 million, a year-on-year increase of 21.5%.
The growth rate of commercial vehicles is limited and slightly tired
Compared with the continued strength of the passenger car market, the performance of commercial vehicles is relatively sluggish. Data from the China Automobile Association shows that in November, the production and sales of commercial vehicles in China reached 327,000 and 315,000 respectively, a month-on-month increase of 12.8% and 5.6% respectively, and a year-on-year decrease of 15.7% and 13.9% respectively. From January to November, the production and sales of commercial vehicles reached 3.444 million and 3.505 million respectively, down 6.2% and 4.4% respectively year-on-year. Among the main varieties of commercial vehicles, compared with the same period last year, the production and sales of passenger cars increased slightly from January to November, and the production and sales of trucks decreased slightly.
As for the reasons why the performance of the commercial vehicle market continues to be weak since 2024, this is mainly reflected in three aspects: first, the number of basic investment and construction in real estate and other markets has declined; second, economic pressure is high, terminal freight rates are low, and commercial vehicle updates are slow; Third, in the national consumption-promotion policy, support for commercial vehicles is not enough.
Both production and sales of new energy vehicles exceeded 1.5 million
In November, the monthly production and sales of new energy vehicles in China hit a record high, both exceeding 1.5 million vehicles. Data from the China Automobile Association shows that in November, the production and sales of new energy vehicles in China completed 1.566 million and 1.512 million respectively, up 45.8% and 47.4% respectively year-on-year. New energy vehicle sales accounted for 45.6% of total new vehicle sales. From January to November, the production and sales of new energy vehicles in China completed 11.345 million and 11.262 million respectively, a year-on-year increase of 34.6% and 35.6% respectively. New energy vehicle sales reached 40.3% of total new vehicle sales.
Overall:
In November, the popularity of the automobile market continued, the effect of the old-for-new policy continued to show, and demand for car purchases was further released. Automobile production and sales continued to achieve double growth month-on-month year-on-year, and monthly production and sales hit a record high. The performance of the passenger car market continues to strengthen, the performance of the commercial vehicle market is relatively weak, and new energy vehicles continue to grow rapidly, playing a strong supporting role. As the cumulative effect of policies continues to emerge, promotional activities in various places and enterprises continue to work hard, and the final sprint in the last month, it is expected that the automobile market will continue to improve in December, and automobile production and sales will continue to remain at more than 30 million vehicles throughout the year.
