|
A
total of 31.4 million vehicles including buses and trucks were
sold last year in the world's biggest market by sales, up 4.5%
compared to a year earlier, the China Association of Automobile
Manufacturers reported. Growth in sales outpaced production,
which rose 3.7%.
China's exports of passenger cars jumped almost 20% in 2024, to
almost 5 million vehicles, contributing to a sharp rise in
China's overall exports.
Out of that, exports of what China calls “ new energy vehicles,”
including pure battery EVs, fuel-cell cars and plug-in hybrids
-- electric vehicles with a small gasoline-powered engine to
back up the batteries -- reached 1.28 million. That was a 6.7%
increase from 2023.
The expansion of Chinese EV makers overseas has alarmed
automakers in the U.S. and Europe. The U.S. enacted a 100%
tariff on China-made electric cars last year, and the European
Union also hit China-based EV makers with new tariffs, saying
the industry had benefited from unfair government subsidies.
Domestically, sales of passenger cars rose 13.6% in December,
driven in part by rebates for trade-ins, raising sales of all
passenger cars in China by 3.1% for the year, to 22.6 million.
Plug-in hybrids saw the most rapid growth in 2024, attracting a
second generation of electric vehicle buyers who are nervous
about buying pure EVs or looking for the more extended range
that hybrids can provide.
The continued rapid expansion of China’s EV sales contrasts with
the United States and Europe, where growth has slowed.
Sales of traditional gasoline and diesel-powered vehicles sank
17% in 2024, from 14 million to 11.6 million. They accounted for
51% of overall new car sales.
Sinking demand for fuel-powered cars has proven to be a harsh
blow for foreign automakers such as Volkswagen AG and Nissan
Motor Corp. that for years have counted on strong demand in
China to burnish their bottom lines.
They are scrambling to develop electric vehicles for the Chinese
market. Honda and Nissan recently announced plans to pursue a
merger in part to meet the challenge of China's rising EV
makers.
—-
Soo reported from Hong Kong.
All contents © copyright 2024 Associated Press. All rights reserved
|
|
