Tashkent, Uzbekistan (UzDaily.com) — In 2024, the volume of vehicle production and sales in China reached a record 31.4 million units, marking a 4.5% increase compared to the previous year. This was reported by the China Association of Automobile Manufacturers (CAAM).

The growth in the new energy vehicle (NEV) segment, which includes electric vehicles and plug-in hybrids, was particularly impressive. NEV sales increased by more than 40%, reaching 12 million units, reinforcing China’s leadership in this sector.

However, sales of vehicles with traditional gasoline engines saw a significant decline, dropping by 17% to 11.6 million units, accounting for 51% of the total volume of new vehicle sales.

At the same time, China’s vehicle exports saw substantial growth, rising nearly 20% to 6.2 million units.

Nevertheless, forecasts for 2025 suggest a slowdown in export growth to 5.8%, attributed to the introduction of additional tariffs on Chinese electric vehicles in the European Union.