11月汽车出口创单月新高 “两新”政策优化将利好2026年车市

Core Insights - In November, China's total automobile sales reached 3.429 million units, a year-on-year increase of 3.4% [1] - Exports accounted for 728,000 units, with a month-on-month increase of 9.3% and a year-on-year increase of 48.5%, marking the first time monthly exports exceeded 700,000 units [1] - Domestic sales, however, saw a decline of 4.4% year-on-year, totaling 2.701 million units [1] Export Market Performance - The export market is experiencing significant growth, primarily driven by new energy vehicles (NEVs) [2] - In November, traditional fuel vehicle exports were 427,000 units, with a month-on-month increase of 4.3% and a year-on-year increase of 5% [2] - NEV exports reached 300,000 units, with a month-on-month increase of 17.3% and a year-on-year increase of 260% [2] - Cumulatively, from January to November, total automobile exports were 6.343 million units, a year-on-year increase of 18.7% [2] NEV Export Growth - In November, pure electric vehicle exports were 177,000 units, with a month-on-month increase of 6.5% and a year-on-year increase of 200% [3] - Plug-in hybrid vehicle exports were 124,000 units, with a month-on-month increase of 37.3% and a year-on-year increase of 400% [3] - Cumulatively, pure electric vehicle exports from January to November reached 1.473 million units, a year-on-year increase of 64.6% [3] Domestic Market Outlook - Despite the decline in domestic sales in November, the overall market performance for the year remains strong [4] - From January to November, automobile production and sales reached 31.231 million and 31.127 million units, respectively, with year-on-year growth of 11.9% and 11.4% [4] - The automotive industry is expected to achieve record production and sales for the year, supported by policy measures and improved market conditions [4] Future Projections - The automotive export market is anticipated to be a significant highlight in the 2025 automotive landscape, with expectations of exports surpassing 7 million units [3] - Upcoming policies aimed at boosting consumer confidence and stabilizing market expectations are expected to positively impact the automotive sector in 2026 [5] - The end of the year may see increased urgency among consumers to purchase NEVs due to the impending expiration of tax exemptions, potentially driving sales further [5]