Passenger Link Branch: With the expiration of the year-end NEV purchase tax exemption policy, the car market entered the year-end rush phase in November. Combined with manufacturers' “Double Eleven” promotions, the market popularity should continue to rise. However, as of the middle of the month, most provinces across the country had adjusted their replacement, renewal and trade-in subsidies to varying degrees, increasing consumers' wait-and-see sentiment, and also had a major impact on the November car market. Some manufacturers adjusted the pace of new energy production in a timely manner to reduce inventory risks. With recent electrification breakthroughs by major car companies and the launch of some hot new products, it led to high structural growth in the car market in November. In November, wholesale sales of new energy from manufacturers such as Geely Automobile, Chery Auto, Celis, Dongfeng Motor, Jihu Auto, and Zhiji Auto reached record highs in each month of the year, while vehicle companies such as SAIC Motor, NIO Auto, GAC Toyota, Dongfeng Nissan, Changan Mazda, and Beijing Hyundai also achieved excellent monthly high performance in each month of the past year. Due to the 48,000 month-on-month increase in exports of BYD automobiles in November, exports of new energy have surged significantly month-on-month, boosting overall sales of new energy passenger vehicles.

Passenger Link Branch: With the expiration of the year-end NEV purchase tax exemption policy, the car market entered the year-end rush phase in November. Combined with manufacturers' “Double Eleven” promotions, the market popularity should continue to rise. However, as of the middle of the month, most provinces across the country had adjusted their replacement, renewal and trade-in subsidies to varying degrees, increasing consumers' wait-and-see sentiment, and also had a major impact on the November car market. Some manufacturers adjusted the pace of new energy production in a timely manner to reduce inventory risks. With recent electrification breakthroughs by major car companies and the launch of some hot new products, it led to high structural growth in the car market in November. In November, wholesale sales of new energy from manufacturers such as Geely Automobile, Chery Auto, Celis, Dongfeng Motor, Jihu Auto, and Zhiji Auto reached record highs in each month of the year, while vehicle companies such as SAIC Motor, NIO Auto, GAC Toyota, Dongfeng Nissan, Changan Mazda, and Beijing Hyundai also achieved excellent monthly high performance in each month of the past year. Due to the 48,000 month-on-month increase in exports of BYD automobiles in November, exports of new energy have surged significantly month-on-month, boosting overall sales of new energy passenger vehicles.