NEV Penetration Rate Reaches 64.8%, Exceeding the National Average by 5.4 Percentage Points! NEVs Become the "Main Engine" of Growth in Chongqing's Auto Market

Recently, reporters learned from the Chongqing Automobile Business Association that in November, Chongqing's broad passenger vehicle sales reached 42,800 units, representing a year-on-year increase of 19.7% and a month-on-month rise of 2.0%. Against the backdrop of mounting year-on-year and month-on-month growth pressures in the national auto market, Chongqing's steady performance fully demonstrates the soundness and resilience of the local automobile consumer market.

Among them, new energy vehicles (NEVs) performed particularly strongly. In November, NEV sales in Chongqing reached 27,700 units, surging 43.6% year on year. During the month, the market penetration rate of NEVs in Chongqing climbed to 64.8%, exceeding the national average by 5.4 percentage points. This means that for every 10 passenger vehicles sold in Chongqing, more than six are new energy models, indicating that local consumers' acceptance of green mobility has reached a historical high.

From the manufacturer perspective, Chinese brands maintained a dominant position in the Chongqing auto market. In November, sales of Chinese-brand vehicles surpassed 32,000 units, a year-on-year increase of 26.2%, capturing a substantial market share of 75.3%. 

Among them, local or deeply associated brands, represented by Changan, Deepal, and AITO, performed exceptionally well. BYD, Deepal, and AITO led as the top three selling NEV brands. AITO sales soared 202.4% year-on-year, Changan NEVO surged 286.5%, while brands like Xiaomi Auto and Fangchengbao all achieved growth exceeding 300%. The AITO M7 REEV, Xiaomi YU7, and Model Y were the three best-selling NEV models. The AITO M7 REEV saw a remarkable 213.7% year-on-year growth, serving as the primary driver for the brand's upward mobility.

In contrast to the booming NEV market, the performance of the gasoline vehicle market was relatively sluggish. From January to November, sales of gasoline vehicles in Chongqing declined by 7.8% year-on-year.

In the November sales rankings for this segment, Changan, Geely, and SAIC Volkswagen retained the top three spots, with most joint-venture brands posting year-on-year declines. However, some brands achieved short-term sales increases through strategies such as end-customer price discounts or wholesale channel incentives. For instance, the Mazda3 Axela registered a significant sales surge year-on-year, attributable to a short-term boost in wholesale deliveries. Meanwhile, Haval, GAC Toyota, and Jetour managed to achieve rare growth against the market trend, largely driven by the competitiveness of their products.

Industry analysts point out that several factors are expected to sustain sequential (month-on-month) growth in Chongqing's auto market in December: an influx of returning migrants ahead of the new year, the positive psychological effect of anticipated purchase tax incentives, and intensified year-end promotional campaigns by manufacturers. Bolstered by supportive policies for new energy vehicles and seasonal consumer demand, the Chongqing automotive market is well-positioned to finish the year on a high note with a strong closing quarter.

Source: Chongqing Daily