Passenger Link Branch: Retail sales in the domestic passenger car market reached 2.225 million vehicles in November, down 8.1% year on year

The Zhitong Finance App learned that on December 9, the Chenglian Branch released a quick report on manufacturer sales rankings for November 2025. According to the latest sales statistics from the Passenger Vehicle Market Information Joint Branch of the China Automobile Dealers Association, retail sales in the domestic narrow sense of the passenger car market reached 2,225 million units in November 2025, down 8.1% year on year and 1.1% month on month; cumulative sales volume in January-November was 21.483 million units, up 6.1% year on year.

November analysis: The domestic retail growth rate judged at the beginning of the year showed a “low before, middle, high, back flat” trend, which is a foregone conclusion. The “double new policy” has played a role in stabilizing the car market and regulating the growth rate. The price “backlash” in the second half of the year was effectively curbed. This year's hybrid cars showed a huge contrast between domestic and foreign markets, that is, domestic growth is slowing down and exports are growing at an accelerated pace. In November, the domestic retail penetration rate of new energy passenger vehicles reached 59.4%, and the penetration rate of new energy vehicles among its own brands reached 79.6%; its penetration rate of new energy vehicles among luxury cars reached 38.8%. In November, passenger car exports (including complete vehicles and CKD) showed a year-on-month growth trend.