In 2024, production and sales of automotive vehicles in China amounted to 31.282 million units and 31.436 million units, increasing by 3.7 percent and 4.5 percent year on year, respectively, with the growth rates 0.8 percentage points and 0.8 percentage points faster compared to those recorded in the January-November period of the year, according to the China Association of Automobile Manufacturers (CAAM).
In 2024, production and sales of new energy vehicles (NEVs) in China amounted to 12.868 million units and 12.866 million units, up 34.4 percent and 35.5 percent year on year, respectively.
Sales of new energy vehicles reached as high as 40.9 percent of total new vehicle sales in 2024, 9.3 percentage points higher compared to 2023.