In 2024, China’s auto production and sales saw steady growths, both setting new records, according to data released by the China Association of Automobile Manufacturers (CAAM) on Monday.
China produced 31.28 million and sold 31.44 million vehicles in 2024, up 3.7 percent and 4.5 percent year-on-year, respectively, both setting new records while continuing to exceed 30 million units for the second consecutive year. China’s total auto production and sales have ranked the first globally for 16 consecutive years, according to CAAM.
Last year, China’s passenger car production exceeded 25 million units for the second consecutive year. The market faced some challenges in the first half last year but saw a strong recovery in the second half, supported by favourable government policies. And, the strong recovery in the passenger car market boosted the automobile industry’s overall growth, with annual production and sales reaching 27.48 million and 27.56 million units, up 5.2 per cent and 5.8 percent year-on-year, respectively, according to CAAM.
In 2024, the country’s domestic passenger car sales reached 22.61 million units, up 3.1 per cent, while exports climbed to reach 4.96 million units, marking a 19.7-percent increase. Domestic sales of traditional fuel-fired passenger cars dropped 2.49 million units to 11.56 million, down 17.4 per cent year-on-year, according to CAAM.
In 2024, Chinese-branded passenger cars recorded sales of 17.97 million units, up 23.1 per cent year-on-year, accounting for 65.2 per cent of China’s passenger car market sales.
