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Beijing (Gasgoo)- China's cumulative vehicle production and sales in 2024 reached 31.282 million and 31.436 million units, representing year-on-year growth of 3.7% and 4.5%, respectively, according to data from the China Association of Automobile Manufacturers (CAAM). Both figures hit new records, maintaining volumes above 30 million units. Passenger vehicles continued to grow steadily in both annual production and sales volumes, playing a vital role in stabilizing the country's auto consumption, while the commercial vehicle market underperformed, failing to meet the expected yearly output and sales threshold of 4 million units. China's new energy vehicle (NEV) sector achieved robust growth, with annual production and sales exceeding 10 million units for the first time. NEVs accounted for over 40% of the country's total sales in 2024. On the other hand, the country's auto exports also reached new heights in the past year, offering global consumers diversified options. Despite t
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