Shanghai (ZXZC)- Chery Holding posted an evident month-on-month (MoM) sales growth of 16% with 73,910 vehicles sold in November, hitting a new high in monthly sales of the year, the group said.

Last month, the group saw its NEV (new energy vehicle) sales leap 86.7% year on year (YoY) to 11,382 units and export volume climb 5% over a year ago to 10,675 units.

By the end of November in 2018, Chery Holding sold 669,573 vehicles in total, a YoY increase of 13.8%. It is worth mentioning that its cumulative export volume jumped 18.7% from a year ago to 118,017 units, which has already surpassed the total volume for 2017. The NEV is the fastest-growing business sector that gained a splendid YoY growth of 211.4% with 81,266 units sold through November.

It is reported that Chery has formed its own NEV R&D system and expects to achieve a NEV sales volume exceeding 200,000 units by 2020.

In spite of the overall sales slowdown for China’s vehicle market this year, Chery is one of a few car makers that accomplished positive YoY growth. Powered by such new models as the Arrizo GX, the all-new Arrizo 5 and the Tiggo 5x 1.5T, the company hopes to create a new record in annual sales this year.