SMM Hot Topic: November Auto Production and Sales Surge, NEVs Highlight Double-Digit Growth

[SMM Hot Topic: Double Growth in Auto Production and Sales in November, NEVs Shine]

According to data from CAAM, auto production and sales in November reached 3.437 million units and 3.316 million units, up 14.7% and 8.6% MoM, and 11.1% and 11.7% YoY, respectively. From January to November, auto production and sales totaled 27.903 million units and 27.94 million units, up 2.9% and 3.7% YoY, respectively. The growth rate of auto production expanded by 1.1 percentage points compared to January-October, while the growth rate of sales expanded by 1 percentage point. The heat in the auto market continued in November, with the effects of the trade-in policy further evident, releasing more car purchase demand. Auto production and sales continued to achieve double growth both MoM and YoY, setting a new monthly record.