In November, the narrow definition of retail sales of passenger vehicles is expected to be 2.25 million units, with new energy vehicles expected to be 1.35 million units.

According to the China Passenger Car Association, the automotive market in November has entered the final sprint stage of the year, with the addition of manufacturers' "Double Eleven" promotions, overall sales momentum remains strong. However, as of mid-month, most provinces in the country have made adjustments to the trade-in subsidies and incentives for replacing old cars with new ones, intensifying consumers' wait-and-see sentiment and bringing greater uncertainty to the November car market. It is preliminarily estimated that the retail market size of narrow passenger cars this month will reach around 2.25 million units, flat compared to October and down 8.7% year-on-year, with new energy retail sales expected to reach around 1.35 million units, and the penetration rate is expected to increase to 60% for the first time.