The Zhitong Finance App learned that Citibank released a research report saying that according to dealer data, overall electric vehicle orders in the Chinese automobile manufacturing industry increased 4% month-on-month in the first week of November (2-8), an improvement from the 38% month-on-month decline in the same period last year. It is believed that the industry order trend is slightly positive, and retail sales of new energy vehicles are expected to drop 5.9% year on year in November.

The bank pointed out that NEV insurance retail sales increased 2.4% month-on-month in November last year, and it is expected that NEV retail sales will grow stronger month-on-month in November this year than the same period last year, partly due to the lower base in September and October. If you apply the Passenger Federation's estimate of a 2.3% month-on-month increase in electric vehicle retail sales in October and take into account the 4% month-on-month increase in November, this is equivalent to a 5.9% year-on-year decline. Compared with the initial 7.3% year-on-year drop in October, the performance is also slightly positive.

According to Citigroup, sales of Ideal Automobile-W (02015), Xiaopeng Group-W (09868), Zero Sports Auto (09863), and Extreme Krypton increased 107%, 62%, 12%, and 7% month-on-month during the period, outperforming the industry. Lithium prices fell 22% month-on-month, and Citi believes it will help ease some of the inflationary pressure on costs.

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