China NEV market slowdown drags global BEV growth down

Group 1: Global Market Trends - China's NEV slowdown has caused global BEV growth to drop below 20%, with a growth rate of 17% in November compared to an average of 30% in the previous three months [1] - Global BEV sales reached a record 1.4 million units in November, despite a poor performance in the US market [1][4] - The US BEV market saw a significant decline, with November sales down 36% year-over-year, totaling 76,000 units, compared to an average of 140,000 units from July to September [6] Group 2: Regional Market Insights - China's passenger BEV market experienced a year-over-year growth of just over 10% in November, indicating a shift to a more sustainable growth rate after a previous price-war fueled boom [2] - Europe maintained steady growth in BEV sales, reflecting mid-30s percentage growth for much of 2025 and nearing record sales figures [2] - The US is entering a phase of reduced support for plug-in vehicles, while Europe is re-implementing some plug-in grants, particularly in Germany starting January 2026 [3] Group 3: Technology and Consumer Behavior - PHEV growth has stalled in November, particularly in China, as BEVs remain attractive due to new technology and expanding charging networks [5] - OEMs are increasingly shifting their focus from BEVs to combustion-based technologies, anticipating low growth in the plug-in sector for the foreseeable future [7]