On December 11th, the China Automobile Association released data showing that in November, 2.582 million Passenger Vehicles were sold domestically, representing a month-on-month increase of 12.8% and a year-on-year increase of 17.5%. Among these, 1.21 million traditional RBOB Gasoline Passenger Vehicles were sold domestically, a decrease of 0.105 million vehicles compared to the same period last year, with a month-on-month growth of 16.2% but a year-on-year decline of 8%.

With the cumulative effects of policies continuing to manifest, promotional activities by various regions and companies persist, and combined with the final month’s push, it is expected that the automotive market will continue to improve in December. The production and sales of Autos for the year are expected to remain above 30 million vehicles. Chen Shihua, deputy secretary-general of the China Automobile Industry Association, called for the continuation of relevant policies to encourage Consumer in the coming year and for these policies to be implemented early.

After four months of a month-on-month recovery in the domestic RBOB Gasoline Vehicle market, joint venture automobile brands, represented by Japanese brands, are still playing an important role in the Chinese market but are showing differing trends.

According to the latest sales figures released by Nissan China, the sales of Nissan Autos in the China region, including both Passenger Vehicles and light Commercial Vehicles, were 63,545 units in November, marking a month-on-month increase of 3.88%. Among them, Dongfeng Nissan (including Nissan, Venucia, and Infiniti brands) sold 59,512 units in November, up 3.82% from last month. From January to November, total sales reached 621,713 units, down 10.53% year-on-year. The positive performance of Nissan China is directly related to the sales recovery of popular models from Dongfeng Nissan; in November, the Sylphy series sold 32,977 units, a month-on-month growth of 3.2%; the Qashqai series sold 10,207 units, a month-on-month growth of 24.2%.

Honda China's sales also continued to show month-on-month recovery. In November, Honda's total sales in China were 76,773 units, slightly up 1.77% month-on-month; from January to November, total sales reached 740,399 units, down 30.7% year-on-year.

Focusing on Honda's joint ventures in China, the latest production and sales announcements from Guangzhou Automobile Group and Dongfeng Group show that GAC Honda's sales in November were 39,143 units, a year-on-year decline of 36.64%, with cumulative sales from January to November at 390,683 units, down 30.38% year-on-year; Dongfeng Honda's sales in November were 40,464 units, a year-on-year decline of 44.48%, with cumulative sales from January to November at 382,707 units, down 30.3% year-on-year. After ending a three-month streak of more than 50% year-on-year declines, Dongfeng Honda has managed to keep its monthly year-on-year decline below 50% for two consecutive months.

GAC Toyota, as a leader among Japanese joint ventures, saw a noticeable month-on-month decline in sales in November, with monthly sales at 67,493 units, down 14.43% from October's 78,877 units. In terms of specific models, the Camry, Sienna, and Highlander remain the Block Orders, with November sales of 16,798 units, 8,543 units, and 7,126 units respectively.

Toyota's other joint venture in China, FAW-Toyota, has once again announced its monthly results after several months. In November, FAW-Toyota sold 90,037 vehicles, showing a month-on-month increase of 18% and a year-on-year increase of 38%. In the first 11 months of this year, FAW-Toyota's cumulative sales reached 703,268 vehicles. Breaking it down by model, several Block Orders have achieved a doubling of month-on-month growth. Among them, the new RAV4 sold 20,658 vehicles, with a month-on-month growth of 122%; the new Corolla sold 19,700 vehicles, also with a month-on-month increase of 122%.

According to the latest data from the Passenger Vehicle Association, mainstream joint venture brands' retail sales in November reached 0.6 million vehicles, a year-on-year decrease of 9% and a month-on-month increase of 6%. In November, German brands had a retail market share of 15.6%, down 3 percentage points year-on-year, while Japanese brands had a retail market share of 12.4%, down 3.1 percentage points year-on-year. American brands’ retail market share reached 6.4%, a year-on-year decrease of 1.5 percentage points.

The automotive market in November continues the high prosperity seen since October, with the effects of scrapping and replacement policies continuously released, stabilizing the growth of the car market. Car manufacturers are also starting to leverage Singles' Day promotions and the mid-month Guangzhou Auto Show to increase Consumer attention, with multiple favorable factors contributing to the further enhancement of market heat in November. Looking ahead to the last month of the year, the secretary-general of the Passenger Vehicle Association, Cui Dongshu, stated that due to the good sales completion rates of leading companies this year, it is expected that some manufacturers' sales will shift to January next year, which will have a good balancing effect on year-end and early-year sales. At the same time, Cui Dongshu offered another perspective, noting that the risk of a policy vacuum period before the 'Two Sessions' in the first quarter may lead companies to tend to exaggerate December's sales slope to gain a larger market share, as leading companies still have the motivation to compete for the top.