SAIC MOTOR(SH:600104) Feng Huang Wang·2025-12-11 09:45Group 1 - In November, China's automotive production and sales reached 3.532 million and 3.429 million units respectively, marking a month-on-month increase of 5.1% and 3.2%, and a year-on-year increase of 2.8% and 3.4%, with production exceeding 3.5 million units for the first time, setting a historical record [1] - From January to November, automotive production and sales totaled 31.231 million and 31.127 million units, reflecting year-on-year growth of 11.9% and 11.4%, although the growth rate has narrowed compared to the previous ten months [1] - Domestic sales of passenger vehicles in November were 2.414 million units, showing a month-on-month increase of 1% but a year-on-year decrease of 6.5%, with traditional fuel vehicles experiencing a significant decline [1] Group 2 - Nissan's sales in China for November reached 70,084 units, a year-on-year increase of 10.29%, while Honda's sales faced a significant decline of 33.78% [2] - GAC Toyota's November sales were 73,500 units, showing a slight year-on-year increase of 0.68%, while FAW Toyota's sales dropped over 20% [3] - The retail sales of mainstream joint venture brands in November were 490,000 units, a year-on-year decrease of 19% and a month-on-month decrease of 6% [4] Group 3 - The market share of German brands in retail sales was 14.0%, down 1.6 percentage points year-on-year, while Japanese brands held 11.7%, down 0.7 percentage points [4] - The secretary-general of the Passenger Car Market Information Association anticipates strong retail sales for new energy vehicles in December due to tax incentives and consumer urgency [4]