In 2024, China produced 31.282 million vehicles and increased PHEV exports by 190 per cent

Loading new Chery cars at the port of Yancheng, China.. Source: jsycport

The China Association of Automobile Manufacturers (CAAM) announced that China will produce 31.282 million vehicles in 2024 - up 3.7 per cent from 2023. Meanwhile, exports totalled 5.859 million vehicles, up 19.3 per cent from a year earlier.

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Production of "New Energy Vehicles" (NEVs), i.e. battery electric vehicles (BEVs) and plug-in hybrids (PHEVs), totalled 12.888 million units during the reporting period. This is an impressive 34.4 per cent year-on-year growth. NEVs accounted for 40.9 per cent of all new vehicle sales in the country - up 9.3 percentage points from 2023.

Of the total number of NEVs sold, battery electric vehicles accounted for 60%. The remaining 40 per cent were plug-in hybrids. PHEV market share increased by 10.4 percentage points over 2023.

Chinese car exports in 2024

China exported 4.955 million passenger cars and 904,000 commercial vehicles in 2024, up 19.7% and 17.5% respectively year-on-year.

NEV exports totalled 1.284 million units, up 6.7% year-on-year. This number includes 987,000 units of BEVs and 297,000 units of PHEVs. Notably, BEV exports declined by 10.4 per cent, while PHEVs, on the other hand, grew by 190 per cent.

The top ten exporters are:

1. Chery: 1.144 million units.
2. SAIC: 929,000 units.
3. Changan: 536,000 units.
4. Geely: 532,000 units.
5. Great Wall Motor: 453,000 units.
6. BYD: 433,000 units.
7. BAIC: 274,000 units.
8. Tesla China: 260,000 units.
9. JAC: 249,000 units.
10. Dongfeng: 246,000 units.

BYD's export performance rose 71.8 per cent. Changan added 49.6 per cent. JAC exported 46.7 per cent more than in 2023.

Source: Carnewschina