China's new passenger vehicle market continued to recover in November 2020 with sales rising by 8% year on year to 2.08m units according to retail data compiled by the China Passenger Car Association (CPCA).
The data did not include sales of commercial vehicles, which typically account for around 15%-20% of the total vehicle market. Wholesale data for all vehicle categories is compiled separately by the China Association of Automobile Manufacturers (CAAM) and released later in the month.
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The Chinese economy has rebounded strongly from the COVID-19 pandemic, with GDP expanding by 4.9% year on year in the third quarter after growing by 3.2% in the second quarter, according to government data.
The CPCA data shows sales of new energy passenger vehicles, comprising mainly electric and plug-in hybrid vehicles, rose by over 136% to 169,000 units in November.
The association stated that domestic brands combined enjoyed a 9% sales increase in November to account for over 39% of total volume, driven by strong demand for new energy vehicles (NEVs), while foreign joint venture brands saw their sales rise by just 3%.
Among the best performing domestic brands in November, Changan Auto posted a more than 36% sales rise to 114,000 units and Great Wall Motors a 26% sales increase to 145,000 units, while Geely Auto volume was up by just 5% at 150,500 units.
The CPCA expects market recovery to accelerate in 2021 with weak year-earlier comparisons helping to lift the growth rate in the first half of the year.
