【周度分析】车市扫描(2025年11月17日-11月23日)

Group 1: Market Overview - 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% decrease compared to the previous month. Cumulatively, retail sales for the year reached 20.64 million units, a year-on-year increase of 6% [2][6] - During the same period, wholesale sales of passenger cars by manufacturers totaled 1.69 million units, a year-on-year decrease of 8% but an 8% increase compared to the previous month. Year-to-date wholesale sales reached 25.464 million units, a year-on-year increase of 11% [2][10] Group 2: New Energy Vehicles - Retail sales of new energy vehicles from November 1 to 23 reached 849,000 units, a year-on-year increase of 3% and an 8% increase compared to the previous month. Year-to-date retail sales reached 10.998 million units, a year-on-year increase of 20% [2][6] - Wholesale sales of new energy vehicles during the same period totaled 995,000 units, a year-on-year increase of 4% and a 13% increase compared to the previous month. Year-to-date wholesale sales reached 13.051 million units, a year-on-year increase of 27% [2][10] Group 3: Market Trends and Consumer Behavior - The retail performance in early November was weak due to last year's strong market performance, leading to lower growth rates this year. However, compared to the same period in 2023, there was still a 14% increase in sales [6][7] - Consumer sentiment remains relatively stable, but the tightening of trade-in and scrapping subsidy policies has led to a cautious market outlook, with many consumers adopting a wait-and-see attitude [6][7] Group 4: Inventory and Production Analysis - 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 440,000 units from October 2024. This indicates a seasonal inventory buildup [11] - The production of new energy vehicles saw fluctuations, with inventory levels rising from 620,000 units in September to 730,000 units in October, although this is still below peak levels [11][12] Group 5: Battery Market Insights - In October, the production of power and other batteries reached 171 GWh, a year-on-year increase of 49%. Cumulatively, from January to October, the production reached 1,293 GWh, a year-on-year increase of 45% [12] - The market for lithium batteries is characterized by strong competition, with CATL and BYD holding significant market shares. The share of lithium iron phosphate batteries has surpassed that of BYD since 2024 [13]