New energy vehicles reached growth of 53. 8%

The market share of Chinese brands is 65. 1%. The penetration rate of new energy vehicles is more than half a month
In November 2024, the sales volume of new energy vehicles in China reached 1,429,000, with a year-on-year growth of 53. 8%, accounting for 50.6% of the domestic sales volume of automobiles. Statistics of China Association of Automobile Manufacturers show that as of November, the penetration rate of new energy vehicles for four consecutive months; from January to November, the sales volume of Chinese brand passenger cars reached 15.9 million, up 22. 5%, and the sales share reached 65. 1%, up 9.3 percentage points compared with the same period last year.
“Double half” means the rise of Chinese brands and the rapid development of the new energy vehicle market, marking a major change in the pattern of China’s automobile market. At present, Chinese brand cars are constantly improving in terms of technology, design and service, adding new vitality to the development of the industry, and also driving the continuous reform of foreign investment and joint venture. The continuous improvement of the penetration rate of new energy vehicles means that, on the basis of industrialization and marketization, China’s new energy vehicles have begun to enter a new stage of high-quality development of scale and globalization.

Source: China Automobile News