China's passenger car sales in November fell by 8.5% year-on-year, with gasoline vehicle sales down by 22%, while new energy vehicles grew by 4.2%
In November, China's passenger car sales fell for the second consecutive month, down 8.5% year-on-year to 2.24 million units, mainly due to a 22% decline in fuel vehicles and the tapering of subsidy policies. Although the proportion of new energy vehicles reached a record high of 58.9%, the growth rate of only 4.2% was insufficient to offset the decline. Exports became a bright spot for growth, increasing by 52.4% in November, with institutions predicting a 40% increase in new energy vehicle exports next year to 2.83 million units
