Data from the National Passenger Vehicle Association reveals that in November, the retail sales volume of passenger vehicles across the country stood at 2.225 million units. This represents an 8.1% year-on-year decrease and a 1.1% month-on-month decline. It marks the first instance of negative year-on-year growth in November's retail sales since 2023, with the downturn becoming more pronounced compared to October. Since the start of this year, cumulative retail sales of passenger vehicles have hit 21.483 million units, with little chance of a significant "year-end surge." In November, domestic-brand passenger vehicles recorded retail sales of 1.49 million units, while mainstream joint-venture brands tallied 490,000 units. Focusing on individual automakers, BYD led in retail sales but saw a year-on-year decrease, whereas Geely achieved year-on-year growth. The National Passenger Vehicle Association considers the auto market's growth rate at year-end to be steady and reasonable, with a 5% increase compared to November 2022. This year, subsidies for trading in old vehicles for new ones have emerged as a crucial policy for boosting sales growth. In November, the average daily number of vehicles benefiting from these subsidies fell to 30,000 units. Retail sales of new energy passenger vehicles shone brightly, while those of traditional fuel-powered passenger vehicles experienced a decline. In December, owing to sufficient production and sales time, coupled with the influence of the vehicle purchase tax policy, consumers' eagerness to buy cars has heightened. Automakers have rolled out vehicle purchase tax subsidy programs one after another, and it is anticipated that sales of new energy vehicles will see a further uptick.