11月国内乘用车销量同比下滑，一汽大众重回第三

Core Viewpoint - The domestic passenger car sales in China experienced a decline in November, with a year-on-year decrease of 6.5%, indicating a slowdown in the market during a critical sales period [2][3]. Group 1: Sales Performance - In November, the domestic passenger car sales reached 2.414 million units, showing a month-on-month increase of 1% but a year-on-year decline of 6.5% [2]. - The retail sales in the narrow passenger car market were 2.225 million units, reflecting a year-on-year decrease of 8.1% and a month-on-month decrease of 1.1% [3]. - The overall sales decline is attributed to factors such as policy withdrawal, reduced stimulus effects, and increased comparison bases [4]. Group 2: Manufacturer Rankings - BYD maintained the top position in retail sales with 306,600 units in November, a month-on-month increase of 3.6% but a year-on-year decline of 26.5% [5]. - Geely Automotive ranked second with sales of 268,300 units, showing a year-on-year increase of 23.5% and a month-on-month increase of 1% [5]. - FAW-Volkswagen returned to the top three with sales of 137,500 units, surpassing Chery [7]. Group 3: Export Growth - November marked a historic milestone with total automobile exports exceeding 700,000 units, reaching 728,000 units, a month-on-month increase of 9.3% and a year-on-year increase of 48.5% [9]. - Passenger car exports were 624,000 units, with a year-on-year growth of 48.7%, indicating a strong performance in overseas markets [9]. - The export of new energy vehicles reached 300,000 units, representing a year-on-year increase of 2.6 times, highlighting the growing acceptance of Chinese electric vehicles in international markets [10]. Group 4: Future Outlook - The automotive industry anticipates challenges in 2026 due to the upcoming reduction of new energy vehicle purchase tax, which may pressure market growth [11]. - Despite short-term caution regarding domestic demand and price competition, long-term growth is expected to be driven by continuous technological innovation and global expansion [11].