China's Car Sales Experience Fastest Growth Since January

In November, car sales in China increased by 16.6% compared to the previous year, marking the fastest growth since January. According to data released by the China Passenger Car Association (CPCA), sales reached 2.45 million units last month. In the first 11 months of 2024, sales increased by 4.4% year-on-year. Sales of electric vehicles, plug-in hybrids, and range-extended vehicles rose by 50.5% annually, accounting for 51.8% of total sales, and it was the fifth consecutive month that battery-powered vehicles, including plug-ins, outsold gasoline vehicles in the world's largest car market.