China’s automotive industry reached a milestone in 2024, with new energy vehicle sales exceeding 10 million units for the first time.

This growth was supported by ongoing government subsidies aimed at encouraging consumer purchases.

The China Association of Automobile Manufacturers reported that total vehicle sales, including exports, rose by 4.5% from the previous year, totaling over 31.4 million units.

Sales of electric vehicles, plug-in hybrids, and fuel cell vehicles increased by 35.5%, reaching more than 12.8 million units, over 40% of the market.