- For the full year of 2024, China's NEV sales amounted to 12.866 million units, contributing 40.9 percent of all vehicle sales of 31.436 million units.
- The CAAM expects China's vehicle sales to reach 32.9 million units in 2025, of which 16 million are NEVs.
China's new energy-vehicle (NEV) sales set a new record high last month, as consumers capitalize on the end-of-year car-buying season.
In December, China's NEV sales totaled 1,596,000 units, marking the fourth consecutive month of record highs, according to data released today by the China Association of Automobile Manufacturers (CAAM).
This represents a 34 percent increase year-on-year and a 5.56 percent increase from November.
CAAM's NEV sales are automakers' wholesale sales, including those in China and those exported to overseas markets. NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel-cell vehicles.
BEV sales in December were 973,000 units, the third consecutive record high, up 17.9 percent year-on-year and up 7.2 percent from November.
PHEV sales in December were up 70.9 percent year-on-year to 622,000 units, the eighth consecutive monthly high, and up 3.0 percent from November.
China's all vehicle sales in December were 3,489,000 units, up 10.6 percent year-on-year and up 5.2 percent from November.
This meant that NEV penetration was 45.7 percent in December, up from 37.7 percent a year earlier and was slightly higher than the 45.6 percent in November.
Excluding exports, domestic NEV sales in December were 1,463,000 units, the fourth consecutive month of record sales. That's up 35.5 percent year-on-year and up 2.4 percent from November.
In December, 504,000 vehicles were exported from China, up 1.1 percent year-on-year and up 2.9 percent from November.
Of these, NEV exports were 134,000 units, up 19.8 percent year-on-year and up 60.7 percent from November.
China exported 83,000 units of BEVs in December, down 16.3 percent year-on-year but up 42.1 percent from November.
The country exported 50,000 units of PHEVs in December, up 320 percent year-on-year and up 100 percent from November.
For the full year 2024, China's NEV sales were 12.866 million units, up 35.5 percent year-on-year, contributing 40.9 percent of all vehicle sales of 31.436 million units.
China's domestic NEV sales were 11.582 million units in 2024, up 39.7 percent year-on-year. NEV exports for the year were 1.284 million units, up 6.7 percent year-on-year.
CAAM expects China's vehicle sales to reach 32.9 million units in 2025, up 4.7 percent year-on-year, with NEV sales at 16 million units, up 24.4 percent year-on-year.
Automakers' share of China NEV market in 2024: BYD tops with 34.1%, Tesla 3rd with 6.0%
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