Chinese EV sales hit records in November ahead of subsidies end

Chinese EV makers set new monthly sales records in November as buyers accelerated purchases ahead of expiring government incentives.

Leapmotor, backed by Stellantis and based in Hangzhou, reported 70,327 deliveries, marking its seventh consecutive record month.

Zeekr, the premium EV unit of Geely Auto, posted 63,902 sales, up 3.7% from October, while Geely’s total sales reached 310,428 across petrol and EVs.

Voyah, a subsidiary of Dongfeng Motor, delivered 20,005 vehicles, a 16.2% rise month-on-month.

Xpeng, based in Guangzhou, reached 36,728 deliveries, up 18.9% year-on-year, while Nio posted a 76.3% surge to 36,275 units.

Xiaomi delivered over 40,000 EVs for the third straight month but did not share an exact figure.

Analysts expect sales to drop in early 2026 as trade-in subsidies and tax breaks begin to phase out in January.

🧠 Food for thought

Implications, context, and why it matters.

China’s vehicle purchase tax moves from a full waiver (up to 30,000 yuan) to a 50% break (maximum 15,000 yuan) on January 1, 2026, so buyers lose at most 2,100 USD per car 1.
Auto dealerships saw orders jump nearly 60% versus a normal month 1. Automakers rolled out “tax-difference guarantee” programs to reimburse the tax gap if delivery slips into 2026 1. Nio, Li Auto (a Chinese EV maker known for extended-range hybrids), and Xiaomi joined in 1 2.
With EV penetration above 45% of new car sales 1, the January 2026 slowdown should be sharp and brief.

November records will feed a year-end 2025 bulge. China’s used EV pool will swell in 2026 and 2027. Buyers face reduced tax benefits and more worry about battery degradation (loss of capacity and range over time).
Contemporary Amperex Technology Co. Limited (CATL), China’s largest EV battery maker, became the first to pass China’s Guobiao (GB) 38031-2025 traction battery safety standard in April 2025 3. It takes effect in July 2026 4. The rule adds post-fast-charge safety checks and bottom impact tests, setting a precedent for certification.
Independent tech-data firms can build battery health inspections, residual value (projected resale price) prediction software, and certification that gives buyers confidence. Partnerships with dealerships, used-car marketplaces, and insurers expand reach, while work with regulators on GB 38031-2025 can make these platforms core infrastructure 4.