China breaks records for car production and sales volumes

In 2024, 31.282 million cars rolled off the assembly lines of automobile factories in China, which is 3.7 percent more than in 2023. Sales rose 4.5 percent to 31.436 million units, Xinhua reported, citing data from the China Association of Automobile Manufacturers (CAAM). In 2025, CAAM predicts sales growth will approach 33 million vehicles.

Other indicators are also given: exports from China exceeded the mark of 5.8 million vehicles, 1.28 million of which were new energy vehicles (NEV), that is, electric cars and hybrids. It follows from the report that just last year, 12.888 million electric vehicles and hybrids were produced and sold in China, which is 34.4 and 35.5 percent more than the year before. Export volumes of all vehicles, in turn, increased by 19.3 percent.

If we talk about all the brands represented on the Chinese market, the top 5 in terms of sales volumes at the end of 2024 included Chery (1.14 million cars), SAIC (929 thousand units), Changan (536 thousand units), Geely ( 532 thousand units) and Great Wall Motor (453 thousand units).

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The leader in sales volumes in the BEV segment was BYD, which ended the year with 3.7 million vehicles. Second place was taken by Geely, which sold 862.93 thousand cars powered by new energy sources. The third place was taken by the American Tesla, which sold 657.1 thousand electric vehicles.

In December, NEV sales in the country reached 1.59 million units, up 34 percent year-on-year. This is a historical maximum for the fourth month in a row.

The Chinese Association of Automobile Manufacturers gave a forecast for 2025: car sales in China will reach 32.9 million units, that is, an increase of 4.7 percent compared to the result of 2024. And 16 million of them will be on new energy sources (an increase of 24.4 percent).

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