China’s NEVs Account for 40% of Total Auto Sales in First 11 Months of 2024

BEIJING – China’s production and sales of new energy vehicles (NEVs) saw significant growth in the first 11 months of 2024, with both metrics rising by over 30% year-on-year. For the first time, NEV sales exceeded 40% of total automobile sales, according to the latest data.

China Central Television (CCTV) reported that between January and November, NEV production reached 11.345 million units, while sales hit 11.262 million units, marking a year-on-year increase of 34.6% and 35.6%, respectively. Data from the China Association of Automobile Manufacturers indicated that NEV sales accounted for 40.3% of the total automobile market during this period.

In November alone, national NEV production surged by 45.8% year-on-year to nearly 1.57 million units, while NEV sales rose 47.4% to 1.51 million units, representing 45.6% of total new car sales for the month.

“In November, the NEV sector maintained its strong growth momentum, with both production and sales surpassing 1.5 million units. Cumulatively, from January to November, NEV sales made up over 40% of total automobile sales for the first time, significantly contributing to the overall market growth,” said Chen Shihua, Deputy Secretary-General of the association.