Early data shows record-breaking 11 million NEVs were sold in China in 2024, penetration rate nearly 50%

2025年1月8日

Early data shows record-breaking 11 million NEVs were sold in China in 2024, penetration rate nearly 50%

Written by chengce-auto

22.9 million passenger cars were sold in China last year, up 5% from 2023. Nearly 11 million were electric, bringing the NEV penetration rate to 47.9% in 2024.

– Advertisement –

The China Passenger Car Association (CPCA) published the early retail sales data today. New Energy Vehicle (NEV) is a Chinese term for BEV (battery electric vehicle), PHEV (plug-in hybrid vehicle), and FCEV (hydrogen). FCEV sales are almost nonexistent in China.

Record-breaking 10.97 million sold NEVs is a 41.6% growth from 7.75 million in 2023 in China.

– Advertisement –

1.38 million NEVs and 1.24 million ICE cars were sold in December in China, bringing the NEV penetration rate to 52.6%. Credit: CPCA, China EV DataTracker

The 2024 breakdown of BEVs and PHEVs will be published tomorrow. However, we can assume the values from the previous data. Between January and November, BEV share was 58%, while PHEV share was 42% in China.

Between Jan – Nov, BEV sales grew 22% to 5.56 million units, while PHEV sales grew 80% to 4.03 million units.

The early 2024 data were compiled based on December early data published by CPCA. In December, passenger NEV retail sales in China were at an all-time high of 1.38 million, up 46% from the same month last year and 10% from 1.27 million in November.

– Advertisement –

This marks the fifth consecutive month over the 1 million mark. A total of 2.62 million passenger cars were sold in December, meaning the NEV penetration rate was 52.6%.