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A year-on-year increase of 32%! Global electric vehicle sales have set historical highs for three consecutive months, with China accounting for 70% of the market.
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.
Who might be the supplier for the Xiaomi YU7?
Xiaomi Autos is once again making waves in the automotive circle! The first SUV model, YU7, has been officially announced, and is expected to be launched in mid-2025. Xiaomi is ambitious and has raised its annual sales target to 120,000 units after completing a delivery volume of 100,000 units ahead of schedule. In a Research Report released on the 12th, UBS Group predicts that with the addition of the new model YU7 and the enhancement of production capacity, total sales of Xiaomi Autos in 2025 are expected to double to 260,000 units. The supply chain for the YU7 is gradually coming to light. UBS Group believes that companies such as Topband, FUYAO GLASS, Minth, Huayang, NEXTEER, and Keboda Technology are likely to become partners of Xiaomi, providing components for the YU7.
Aim for 30 million vehicles for the whole year, with RBOB Gasoline vehicles experiencing a "four consecutive months increase". The China Association of Automobile Manufacturers calls for early implementation of consumer promotion policies next year.
1. The domestic sales of traditional fuel Passenger Vehicles reached 1.21 million units, a decrease of 0.105 million units compared to the same period last year, with a month-on-month growth of 16.2% and a year-on-year decline of 8%. 2. Chen Shihua, deputy secretary-general of the China Automobile Industry Association, urged that relevant policies to promote Consumer spending on Autos continue next year and be implemented as soon as possible.
Lei Jun wants to dethrone the Model Y.
There is still a need to overcome the capacity challenges.
The Model Y has a strong competitor: Xiaomi's first SUV is revealed, officially announcing that the YU7 will be launched in the summer of next year.
The Ministry of Industry and Information Technology's public information shows that the YU7 is 4999mm long, 1996mm wide, and 1600mm high. Because it looks similar to the ferrari Purosangue, netizens jokingly call it "Falami." Xiaomi expects the new car to officially launch in June or July next year, but has not disclosed the pricing.
The momentum for trade-ins is strong! In November, china's sales of new energy fund vehicles increased by 50% year-on-year, setting a new record, while exports fell by 6.3%.
In November, the Passenger Vehicle market achieved historic highs in retail, wholesale, production, and exports, with explosive growth in Electric Vehicles. The Passenger Car Association noted that the majority of scrappage replacements and some trade-in customers chose to purchase Electric Vehicles. Subsidy policies, particularly those promoting entry-level pure electric vehicles and the narrow plug-in hybrid market, strongly boosted growth and further solidified the expansion foundation for Electric Vehicles penetration.