In November, automobile sales in China decreased by 8.5% on an annual basis to 2.24 million vehicles. This is the second consecutive monthly decline after -0.8% in October and the strongest decline in the last 10 months. According to industry observers, the impact of “accelerated” purchases against the backdrop of government incentives and expectations of tapering by the end of the year has begun to weaken, affecting consumer demand.
At the same time, the market structure continues to change rapidly: the share of electric vehicles and plug-in hybrids (EV and PHEV) reached a record 58.9% of all sales. According to official data, the subsidized exchange program in favor of EV/PHEV in January-November exceeded 11.2 million units. For 2025, the industry expects sales to increase by about 5%, but for 2026 the forecast is more measured: with increased competition and the expected “wave” of new products, the market may reach almost zero dynamics.
Amid domestic volatility, China increased exports sharply: its annual growth in November rose to 52.4% from 27.7% in October. The company-by-company picture is mixed: BYD finished November with sales below the previous year (its third straight decline globally despite record overseas deliveries), while Tesla in China rose to 73,145 vehicles after October’s low, and Xiaomi reported more than 40,000 deliveries for the third month in a row, meeting its annual target of 350,000 vehicles.
Automobile Magazine – English
