Top-Selling car brands in November 2023 in China
The Chinese automobile market continued its robust performance in Nov 2023, with a reported sale of 2.08 million new cars, as the China Passenger Car Association (CPCA) indicated. This figure reflects a 2.3% increase compared to the previous month and a substantial year-on-year growth of 26.1%. It's noteworthy that the new energy vehicle (NEV) sector played a significant role, with 552,000 electric vehicles (EVs) and 289,000 plug-in hybrid electric vehicles (PHEVs) finding buyers, constituting 40.4% of total vehicle sales.
The impressive growth in Nov can be attributed to two primary factors. Firstly, the significant impact of the COVID-19 pandemic in China during the same period last year resulted in lower-than-usual automobile production and sales. Secondly, the current market dynamics are influenced by deep discounts offered by internal combustion engine (ICE) companies to stimulate sales in response to the growing prominence of EVs.
BYD, the Chinese automaker, secured its position as the top-performing auto brand in China for the month, selling 250,115 vehicles, marking an impressive 17.2% year-on-year increase and claiming a notable 12.02% market share. This marks BYD's tenth consecutive month at the forefront of the Chinese automotive market.
While BYD has maintained its dominance, Volkswagen displayed a significant rebound in sales, maintaining its second-place position by selling 207,423 cars, reflecting a robust 31.2% year-on-year growth and securing a 9.97% market share.
Holding strong in third place, Toyota sold 141,746 vehicles, representing a 17.1% year-on-year increase and capturing a 6.81% market share.
Geely and Honda rounded off the top five, selling 107,557 and 106,377 vehicles, respectively. Geely's sales surged by 40.5%, securing a 5.17% market share, while Honda achieved a 5.11% market share.
BYD demonstrated a commanding presence in the Chinese NEV segment, excelling in both the EV and PHEV categories. BYD secured an impressive 25% market share within the Chinese EV market. Notably, the brand showcased an even more significant dominance in the PHEV category, claiming a remarkable 42% market share for the month.
In the pure electric vehicle market, BYD maintained its leadership, selling 133,785 vehicles and securing a notable 27.03% market share.
Tesla followed closely, with sales reaching 65,504 vehicles, placing it second. Tesla's updated Model 3 contributed significantly to its sales, exceeding 15,000 units.
The third, fourth, and fifth positions in the EV sales list were claimed by Wuling, Aion, and Volkswagen, respectively.
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