China Total Vehicle Sales

China's vehicle sales jumped by 11.7% year-on-year to 3.316 million units in November 2024, accelerating sharply from a 7% rise in the previous month, according to data from the China Association of Automobile Manufacturers (CAAM). This marked the second straight month of increase in vehicle sales, following the launch of government policy measures aimed at boosting the auto market. Sales of new energy vehicles surged by 47.4% in November to a fresh record peak of 1.512 million units, surpassing the previous record of 1.43 million units in October, as the year-end peak season continues. For the first eleven months of 2024, total vehicle sales grew by 3.7% to 27.94 million units, with new energy vehicles soaring by 35.6%. On a monthly basis, car sales rose by 8.6%.