- China’s EV sales rose more than 40%, while gasoline car sales dropped by 17%.
- Exports of new energy vehicles (NEVs) grew by 6.7%, with 1.28 million units shipped.
- Foreign automakers face challenges as demand for fuel-powered cars plummets.
China’s electric vehicle market surged in 2024, with EV sales rising over 40%, signaling a shift in the nation’s automotive landscape. In contrast, traditional gasoline.
and diesel vehicle sales plummeted by 17%, reflecting a growing preference for cleaner alternatives. NEV exports also saw growth, with China shipping 1.28 million units of battery EVs, fuel-cell cars, and hybrids.
China’s Electric Vehicle Market Outpaces Traditional Car Sales in 2024
The shift toward electric vehicles has put pressure on foreign automakers like Volkswagen and Nissan, whose reliance on fuel-powered cars is becoming less viable. As local Chinese EV companies gain momentum, these global brands are accelerating efforts to enter the electric car market. Meanwhile, plug-in hybrids emerged as the fastest-growing category, offering consumers extended driving ranges and bridging the gap between conventional cars and fully electric models.
Electric vehicles, including battery EVs and plug-in hybrids, saw sales soar by more than 40% in 2024. Plug-in hybrids were particularly popular, attracting a new wave of buyers who sought longer driving ranges or were hesitant about fully electric cars. This trend highlights the growing acceptance of alternative powertrains in China’s automotive landscape.
Exports of new energy vehicles (NEVs) performed well, with nearly 1.3 million units shipped abroad, a 6.7% increase from 2023. China’s strength in the EV sector is apparent, as its NEV exports continue to grow, positioning the country as a dominant player in the global electric car market.
Foreign automakers, including Volkswagen, Nissan, and Honda, are scrambling to adapt to this shift. Their reliance on traditional cars in the Chinese market is no longer sustainable, prompting strategic mergers and accelerated investments into EV development. Honda and Nissan’s recent merger announcement is a direct response to the increasing competition from Chinese EV manufacturers.
China’s 2024 electric vehicle growth underscores its leadership in the global automotive transition, challenging foreign manufacturers to adapt to this new green frontier.
“As the demand for gasoline cars plummets, China’s rapid shift towards electric vehicles demonstrates the power of sustainable innovation in reshaping the global automotive market.”
