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In November, the electric vehicle market experienced explosive growth, with nearly 80% of A/H share listed car companies seeing their sales increase year-on-year, and many setting new records.
① In November, retail sales of new energy passenger vehicles reached 1.268 million units, a year-on-year increase of 50.5% and a month-on-month growth of 5.9%, with the domestic retail penetration rate of electric vehicles reaching 52.3%; ② In November, the explosive growth of new energy vehicles reflects the market's positive feedback on the national scrapping and updating program and the "double new policy" of replacing old with new; ③ Twelve auto manufacturers achieved a year-on-year increase in sales in the new energy market in November.
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Worried about Trump's policies, South Korean electric car battery manufacturers are reconsidering their investment plans in the United States.
Informed sources reveal that some south korean companies have slowed down or suspended some ongoing factory constructions due to concerns over a decrease in demand for electric autos and the policies that Trump is expected to implement.
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Huachuang Securities: It is expected that electric vehicle sales will see significant growth in Q4 2024, pay attention to the policies for capturing orders at the end of the year.
Based on the sales data of various automobile manufacturers from January to October 2024 and the potential new vehicles, it is expected that the domestic wholesale sales of new energy passenger vehicles could reach 12.12 million units, +35%, of which pure electric vehicles could account for 6.79 million units, +9%, and hybrid vehicles could account for 5.34 million units, +94%.
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