China’s new-energy passenger vehicle market continues to electrify the world, posting remarkable growth in November. Retail sales hit nearly 1.27 million units, marking a staggering 50.5% increase compared to the same month last year, according to the China Passenger Car Association (CPCA).
Not only did sales surge, but production also ramped up significantly. In November, about 1.48 million new-energy passenger vehicles rolled off the assembly lines, a 49.3% year-on-year boost and a 7.1% rise from October’s figures.
The popularity of new-energy vehicles (NEVs) is climbing rapidly among Chinese consumers. The penetration rate of NEVs in the domestic market reached an impressive 52.3% last month, indicating that more than half of new passenger cars sold were electric or hybrid models.
From January to November, total retail sales of NEV passenger cars soared to 9.59 million units, up 41.2% from the previous year. This sustained growth underscores China’s leading role in the global shift toward greener transportation.
On the export front, China shipped around 80,000 new-energy passenger vehicles in November, experiencing a slight 6.3% dip compared to last year. However, total exports from January to November reached about 1.17 million units, reflecting a robust 24.6% increase over the same period last year.
China’s commitment to new-energy vehicles is reshaping the automotive landscape, both domestically and globally, as the nation accelerates toward a more sustainable future.
Reference(s):
cgtn.com
