The performance of the China market is impressive, with sales in November growing by 50% year-on-year to reach 1.27 million vehicles, accounting for about 70% of Global total sales. Overall Auto sales in China for November increased by 16.6% compared to the previous year, marking the highest growth rate since January this year. BYD is expected to exceed the annual Global sales target and surpass Ford and Honda.
In November, global electric vehicle sales reached a new high for three consecutive months, with the China market leading the growth.
On Friday, according to data from market research company Rho Motion, global sales of pure electric and plug-in hybrid vehicles in November increased by 32.3% year-on-year, reaching 1.83 million units, marking a historical high for the third consecutive month. This also indicates that global electric vehicle sales have increased for the seventh consecutive month.
Among them, the performance of the China market was outstanding, with sales increasing by 50% year-on-year, reaching 1.27 million units, accounting for approximately 70% of the global total sales.
In contrast, the European market showed relatively weak performance, with sales at 0.28 million units, slightly down year-on-year, but up 7.7% compared to October.
The markets in the USA and Canada maintained growth, with sales increasing by 16.8% year-on-year to 0.17 million units, while sales in other regions remained the same as last year.
Rho Motion data manager Charles Lester stated:
The performance of the China market met expectations, with government incentive policies further driving the growth of electric vehicle sales; the penetration rate of electric vehicles in the Chinese auto market has remained around 50% in recent months.
It is worth noting that in November, overall auto sales in China increased by 16.6% year-on-year, reaching the highest growth rate since January of this year. The domestic brand BYD is expected to exceed its annual global sales targets and surpass Ford and Honda.
This year, the global electric vehicle market has undergone a critical transformation. Taking Europe as an example, it faces multiple pressures such as rising production costs, new emissions standards, and increasingly fierce competition. Auto manufacturers in the USA and Europe have stated that factors such as escalating trade tensions, carbon emission regulations, and some countries canceling subsidy policies have affected car prices and may place thousands of jobs at risk.
