China's New Energy Vehicle Production and Sales Exceed 12 Million in 2024
According to an analysis report released today by the China Association of Automobile Manufacturers (CAAM), in 2024, total automobile production and sales reached 31.282 million and 31.436 million units, respectively, growing by 3.7% and 4.5% year-on-year. This marks a new record high, maintaining a scale of over 30 million vehicles.
The production and sales of passenger vehicles continued to grow, playing a positive role in stabilizing the foundation of automobile consumption.
The commercial vehicle market showed weakness, with production and sales failing to meet the expected target of 4 million units.
New energy vehicles (NEVs) continued to experience rapid growth, with production and sales surpassing 10 million units for the first time, accounting for over 40% of total sales.
Car exports reached new heights, with NEV exports hitting 1.284 million units in 2024, an increase of 6.7% compared to the previous year.
In 2024, the production and sales of NEVs reached 12.888 million and 12.866 million units, respectively, growing by 34.4% and 35.5% year-on-year, continuing to hold the top spot in the world for ten consecutive years. The sales of new NEVs accounted for 40.9% of total new car sales, an increase of 9.3 percentage points compared to 2023.
Among these, pure electric vehicle (EV) sales accounted for 60% of NEVs, down 10.4 percentage points from the previous year; plug-in hybrid electric vehicle (PHEV) sales accounted for 40%, up 10.4 percentage points from last year. The rapid growth of PHEVs has become a new driving force behind the growth of NEVs.
Additionally, in 2024, China exported 987,000 pure electric vehicles, a decrease of 10.4% year-on-year; while exports of plug-in hybrid vehicles surged to 297,000 units, a year-on-year increase of 1.9 times.
More and More Young People Are Choosing New Energy Vehicles
For young people, many choose new energy vehicles (NEVs) not only because of their more stylish and modern appearance, but also due to their high level of smart technology integration.
Features unique to NEVs, such as motorcycle-like interaction functions and intelligent driving assistance systems, not only enhance the convenience of driving but also significantly improve the safety and ease of the entire journey.
The comfort of driving an NEV is another reason many choose them. This is thanks to the excellent power performance of NEVs. Since they are driven by electric motors, acceleration is more convenient and faster compared to traditional gasoline vehicles.
Due to their unique acceleration linearity, drivers won’t feel any hesitation when driving. The entire driving experience is smoother, more convenient, and lighter. Even in highly congested traffic, NEVs provide the most comfortable driving experience for the driver.
Given the numerous advantages of NEVs, they have already become the first choice for many car buyers. While many might think NEVs are more suited to the demands of young people, in reality, the group of NEV users now extends beyond just those under 30.
Recent Posts
