The China Association of Automobile Manufacturers announced a record-breaking year for the auto industry in 2024, with production reaching 31.28 million units, a year-on-year increase of 3.7%. Meanwhile, sales exceeded 31.44 million units, growing by 4.5%.
New Energy Vehicles Lead the Way
New energy vehicles (NEVs) continued to dominate globally for the tenth consecutive year, with production and sales surpassing 12 million units. NEVs accounted for over 50% of passenger car sales in the domestic market for seven consecutive months, highlighting the significant shift towards clean energy.
Government Support Boosts the Sector
Government incentive programs played a crucial role in boosting car consumption and supporting advanced industries. This support was pivotal in achieving record numbers, solidifying China’s position as a global leader in the industry.
Bright Prospects for the Auto Industry
Experts predict that car sales will reach 32.9 million units by 2025, including 16 million units of new energy vehicles. This indicates unprecedented growth in the adoption of clean energy and reinforces China’s leading role in this sector.
China: A Global Model in the Auto Industry
By consistently setting new records, China is positioning itself as a key player in the future of the global auto industry. These achievements reflect the strength of the Chinese economy and its technological advancements, cementing its status as a global powerhouse in the automotive sector.