According to data from consulting firm Benchmark Mineral Intelligence (BMI), in November of this year, the growth rate of global electric vehicle (including pure electric and plug-in hybrid vehicles) sales decelerated to its slowest pace since February 2024. Specifically, the United States witnessed a substantial decline in sales owing to the expiration of electric vehicle tax incentives. Meanwhile, the growth rate of China's electric vehicle market sales also experienced a slowdown. However, Europe emerged as the primary contributor to the global electric vehicle sales growth in November. This was mainly due to national incentive policies that triggered a significant surge in registrations, with sales from January to November this year increasing by one-third compared to the same period in 2024.

In terms of detailed figures, global electric vehicle registrations rose by 6% year-on-year in November, reaching approximately 2 million units. In China, registrations climbed by 3% year-on-year and 4% month-on-month, surpassing 1.3 million units. This marked the lowest year-on-year growth since February 2024. Nevertheless, the Chinese electric vehicle market has still expanded by 19% year-on-year from January to November this year, with cumulative sales hitting 11.6 million units.

BYD's electric vehicle exports soared to a record high in November, reaching 131,935 units. BMI pointed out that since the beginning of 2025, BYD's sales in Europe have skyrocketed more than fourfold year-on-year, reaching around 200,000 units. In Southeast Asia, its sales have doubled, and in South America, they have grown by over 50%. In North America, registrations plummeted by 42% year-on-year in November, barely exceeding 100,000 units. This was primarily attributed to the impact of the expiration of U.S. tax credit policies on September 30. From January to November this year, U.S. electric vehicle sales have cumulatively decreased by 1% year-on-year.

In Europe, electric vehicle sales surged by 36% year-on-year in November, exceeding 400,000 units. This growth was largely propelled by new national incentive measures and a wider variety of vehicle models. Sales rebounded in France and Italy, and the UK expanded its subsidy scope.