Zhi Tong Cai Jing·2025-11-26 10:13Group 1: Retail Sales Performance - From November 1 to 23, the national retail sales of passenger cars reached 1.384 million units, a year-on-year decrease of 11% compared to the same period last year, and a 2% decline compared to the previous month. Cumulatively, retail sales for the year reached 20.64 million units, a year-on-year increase of 6% [1][4] - The average daily retail sales for the first week of November were 46,000 units, down 19% year-on-year and down 4% from the previous month [2] - The average daily retail sales for the second week of November were 67,000 units, down 9% year-on-year and down 7% from the previous month [3] Group 2: Wholesale Sales Performance - From November 1 to 23, the wholesale volume of passenger cars reached 1.69 million units, a year-on-year decrease of 8%, but an 8% increase compared to the previous month. Cumulatively, wholesale sales for the year reached 25.464 million units, a year-on-year increase of 11% [1][7] - The average daily wholesale volume for the first week of November was 52,000 units, down 22% year-on-year but up 48% from the previous month [5] - The average daily wholesale volume for the second week of November was 79,000 units, down 5% year-on-year and down 4% from the previous month [6] Group 3: New Energy Vehicle Market - From November 1 to 23, the retail sales of new energy vehicles reached 849,000 units, a year-on-year increase of 3% and an 8% increase compared to the previous month. Cumulatively, retail sales for the year reached 10.998 million units, a year-on-year increase of 20% [1] - The wholesale volume of new energy vehicles reached 995,000 units, a year-on-year increase of 4% and a 13% increase compared to the previous month. Cumulatively, wholesale sales for the year reached 13.051 million units, a year-on-year increase of 27% [1] Group 4: Inventory and Market Outlook - As of the end of October 2025, the inventory of passenger cars in the industry was 3.41 million units, an increase of 130,000 units from the previous month and an increase of 440,000 units from October 2024 [8] - The current inventory level supports an estimated sales period of 44 days, which is relatively moderate compared to previous years [8] - The market outlook for November shows a 64% optimism level among manufacturers, indicating a cautious but positive sentiment towards future sales [8] Group 5: Battery Market Analysis - In October, the total production of power and other batteries reached 171 GWh, a year-on-year increase of 49%. Cumulatively, the production from January to October was 1,293 GWh, a year-on-year increase of 45% [9] - The market for lithium batteries is characterized by strong competition, with CATL and BYD being the dominant players. The market share of lithium iron phosphate batteries has seen significant growth [11] Group 6: International Market Dynamics - In October 2025, the Russian automotive market saw sales of 183,000 units, a year-on-year decrease of 8% but a month-on-month increase of 35%. Cumulatively, sales from January to October reached 1.19 million units, a year-on-year decrease of 23% [12] - Chinese brands have significantly increased their market share in Russia, with local sales surpassing export volumes, indicating a successful strategy in navigating complex international relations [12]