The Zhitong Finance App learned that on December 1, several electric vehicle companies revealed their delivery results for the previous month. Among them, BYD sold more than 0.5 million new energy vehicles in November, Ideal Auto won the Chinese brand sales championship for 8 consecutive months, and NIO's delivery volume exceeded 0.02 million for 7 consecutive months. LEAPMOTOR achieved its annual sales target ahead of schedule, with impressive performance. The number of Xiaomi SU7 units delivered continued to exceed 20,000 units last month, while ZEEKR delivered 2,7011 units in November, another record high. BOC International said that with the upgrading of trade-in subsidies in all provinces and cities across the country, adding that the fourth quarter is already the traditional peak season for car sales, the bank expects NEV sales performance in the fourth quarter to still achieve a high year-on-year increase.

Specifically, BYD Co., Ltd. announced that in November 2024, production of new energy vehicles was about 0.5406 million units, up 70.8% year on year; sales volume was about 0.5068 million units, up 67.87% year on year. In the international market, the company sold a total of 30,977 new energy passenger vehicles overseas in November 2024, of which 28,141 were exported.

According to a research report released by China Securities International, after officially releasing the fifth-generation DM technology, BYD gradually upgraded its main models such as the Qin L, Seal 06, Song L, Song Plus, Han, and Sea Lion to DM 5.0. The bank believes that new cars built on the new platform will continue to be popular, driving further sales growth. Combined with the stimulus of the country's trade-in policy, it is expected that BYD's production and sales volume will continue to reach new highs in Q4. The bank said it is optimistic that with its strong technical advantages and cost advantages, the company can guarantee a steady increase in market share and performance in the fierce industry competition.

At the same time, Ideal Auto announced that the company delivered 48,740 new cars in November, an increase of 18.8% over the previous year; as of November 30, Ideal Auto delivered a total of 44,195 vehicles in 2024, with a cumulative delivery volume of 10,75,359 vehicles.

Li Xiang, Chairman and CEO of Ideal Auto, said that in the passenger car market of 0.2 million yuan or more, Ideal won the Chinese brand sales championship for 8 consecutive months, surpassing the sales volume of Audi and BMW in the Chinese market for 3 consecutive months from August to October this year.

In November, the monthly delivery volume of LEAPMOTOR exceeded 0.04 million units for the first time, reaching 40,169 units, an increase of 117% over the previous year. From January to November, the total number of LEAPMOTOR delivered was 25,107 units, an increase of 100% over the previous year. The company said that LEAPMOTOR is the first new energy vehicle brand to reach its annual sales target ahead of schedule, and will challenge the 0.5 million annual sales target in 2025.

Earlier, the China Automobile Dealers Association initially estimated that in November, the auto market continued its high boom since October, and the effects of the scrapping and replacement and renewal policies continued to be released, steadily boosting the car market; various car companies also began to raise consumer attention through the “Double Eleven” promotion and the mid-month Guangzhou Auto Show. Supported by multiple favorable factors, the popularity of the car market is expected to increase further in November.

According to data from the National Bureau of Statistics, total retail sales of social consumer goods are growing year-on-year and month-on-month, and the effect of trade-in of consumer goods is further evident. As the effects of replacement and renewal subsidies were further released, the passenger car market experienced structural changes. The share of low-end economy models driven by end-of-life renewal continued to grow simultaneously to simultaneous growth in middle and high-end models. Retail sales of automotive consumer goods are gradually increasing, and the growth rate is further expanding. Many places have also further expanded the scope of replacement subsidies and additional funds. It is expected that the effects of the policy will continue to be released before the end of the year, which will strongly drive the growth of the automobile market.

In overseas markets, the EU's carbon emissions assessment continues to be stricter. The current targets are: 93.6 g/km (2025-2029), 49.5 g/km (2030-2034), and zero emissions from 2035. The 25th year has ushered in an assessment point. If it cannot be completed, car companies will face fines of several thousand yuan for a single car, and the policy will be very aggressive. While meeting the EU's carbon reduction targets, European tram sales will reach 3.789 million units and 8828 million units in '25 and '30, respectively, and sales are expected to increase by more than 28% year-on-year in '25. China's power battery industry chain is leading the world and is expected to benefit from the growth of the European market.

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BYD Co., Ltd. (01211): With the support of the DM5.0 and e4.0 platforms, the main models of Dynasty and Ocean Network are undergoing facelift to enhance product competitiveness and sales. Tension, Yangzheng, and Fangchengbao high-end brand models are rich in reserves, speeding up the deployment of the high-end market. Furthermore, going overseas is the company's long-term layout. The net profit from overseas bicycles is far higher than at home, which is the key to the company's profit improvement. The company is in a pioneering and developing stage overseas, and export sales are increasing month by month. New energy vehicle products have entered 77 countries and regions including Brazil, Germany, Japan, and Thailand. BYD is actively promoting overseas production capacity. Among them, the Uzbek plant and the Thai plant have already been put into operation, and construction of the Brazilian plant and the Hungarian plant is progressing steadily. The company also plans to invest in production capacity construction in Indonesia, Turkey and other places.

Great Wall Motors (02333): Outside of the domestic passenger car market price war, Great Wall continued to improve profits by increasing exports and tank brand sales. In August, the Blue Mountain Smart Driving Edition was launched, and Noa launched in all scenarios of CoffeeOS3+, which is expected to drive the Wei brand's sales to pick up. In the second half of the year, the new models of tanks such as the 700Hi4-T, the new H6 and the new H9 are expected to further optimize the product portfolio. In terms of exports, Great Wall has completed capacity deployment in Russia, Thailand, and Brazil, and KD plants around the world continue to increase. The overseas market covers 170+ countries and regions, and 1,300+ sales channels, supporting the goal of overseas sales of one million vehicles per year by 2030.

Xiaopeng Motors (09868): According to data, Xiaopeng Motor delivered a total of 30,895 new cars in November. The monthly delivery volume exceeded 0.03 million for the first time, an increase of 54% year-on-year and 29% month-on-month. The monthly delivery volume surpassed 0.03 million for the first time, and recorded a record monthly delivery record for 3 consecutive months.