BYD(SZ:002594) Feng Huang Wang·2025-12-08 12:44Core Insights - In November 2025, China's wholesale sales of new energy passenger vehicles reached 1.706 million units, representing a year-on-year increase of 18.7% and a month-on-month increase of 5.8% [1] - Retail sales of new energy passenger vehicles in November totaled 1.321 million units, showing a year-on-year growth of 4.2% and a month-on-month growth of 3.0% [1] Sales Performance - Among the top ten best-selling models in November, nine were new energy vehicles, with BYD's Song leading at 56,000 units sold, followed closely by Tesla's Model Y at 55,000 units [1] - Xiaomi's Yu7 entered the top ten with over 33,000 units sold, marking Xiaomi's first SUV model to achieve this milestone [1] Market Penetration - The retail penetration rate of new energy vehicles in the overall passenger car market reached 59.3% in November, an increase of 7 percentage points compared to the same period last year [1] - The penetration rate for new energy vehicles among domestic brands was 79.6%, while luxury brands had a penetration rate of 38.8%, and mainstream joint venture brands only reached 8% [1] Retail Market Share - In November, the retail market share of new energy vehicles for domestic brands was 67.5%, a year-on-year decrease of 5.9 percentage points [1] - The market share for new energy vehicles from mainstream joint venture brands was 3.2%, down by 0.14 percentage points year-on-year [1] - The share of new forces, including brands like Xpeng, Leap Motor, and Xiaomi, grew by 5.9 percentage points year-on-year to 22.1%, while Tesla's share decreased by 0.3 percentage points to 5.5% [1]