{"id":22029,"date":"2025-01-11T02:05:40","date_gmt":"2025-01-11T02:05:40","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/marketing\/record-ev-hybrid-sales-help-chinese-car-market-grow-5-3-et-brandequity\/"},"modified":"2025-01-11T02:05:40","modified_gmt":"2025-01-11T02:05:40","slug":"record-ev-hybrid-sales-help-chinese-car-market-grow-5-3-et-brandequity","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=22029","title":{"rendered":"Record EV, hybrid sales help Chinese car market grow 5.3%, ET BrandEquity"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>            <!-- Display video article in news article for the custom next story --><\/p>\n<p>            <!-- Modifying the body placing embeds,promoslots,related etc.--><\/p>\n<figure class=\"img_container\" style=\";margin-bottom:5px;max-width:100%;\"><img fetchpriority=\"high\" decoding=\"async\" width=\"590\" height=\"442\" class=\"unveil\" loading=\"eager\" style=\"width:100%;max-height:100%\" src=\"https:\/\/etimg.etb2bimg.com\/photo\/117112493.cms\" captionrendered=\"1\" alt=\"&lt;p&gt;Representational&lt;\/p&gt;\"\/><figcaption class=\"caption\"><span>Representational<\/span><\/figcaption><\/figure>\n<p>China&#8217;s car sales maintained their growth pace in 2024 as sales of <a id=\"6354973\" type=\"General\" weightage=\"20\" keywordseo=\"electric-vehicles\" source=\"Orion\" class=\"news-keywords\" href=\"https:\/\/brandequity.economictimes.indiatimes.com\/tag\/electric+vehicles\">electric vehicles<\/a> and <a id=\"2158849\" type=\"General\" weightage=\"20\" keywordseo=\"plug-in-hybrids\" source=\"Orion\" class=\"news-keywords\" href=\"https:\/\/brandequity.economictimes.indiatimes.com\/tag\/plug-in+hybrids\">plug-in hybrids<\/a> in the world&#8217;s largest auto market hit a record high amid a brutal price war and with subsidised trade-ins for greener vehicles driving purchases.<\/p>\n<p>The outstanding growth in China in a largely stalling global EV landscape spelled good fortune for local winners such as <a id=\"67247\" type=\"General\" weightage=\"20\" keywordseo=\"byd\" source=\"Orion\" class=\"news-keywords\" href=\"https:\/\/brandequity.economictimes.indiatimes.com\/tag\/byd\">BYD<\/a>, <a id=\"88395\" type=\"General\" weightage=\"20\" keywordseo=\"geely\" source=\"Orion\" class=\"news-keywords\" href=\"https:\/\/brandequity.economictimes.indiatimes.com\/tag\/geely\">Geely<\/a> and Xiaomi and expedited an industry shakeout in a competitive market.<\/p>\n<p><!-- PROMOSLOT_M -->It also benefited Tesla, whose China sales hit a record high in 2024, bucking an overall decline in the US EV giant&#8217;s global sales.<\/p>\n<p>Other foreign automakers such as General Motors, Toyota and Volkswagen continued to lose ground to local rivals, with many of them struggling to sustain effective capacity usage at their Chinese plants.<\/p>\n<p>Passenger vehicle sales were up 5.3% to 23.1 million units in 2024 for the fourth straight year of growth, in line with the 2023 pace, according to the China Passenger Car Association .<\/p>\n<p><!-- PROMOSLOT_M -->Sales of EVs and plug-in hybrids, known collectively as <a id=\"3817720\" type=\"General\" weightage=\"20\" keywordseo=\"new-energy-vehicles\" source=\"Orion\" class=\"news-keywords\" href=\"https:\/\/brandequity.economictimes.indiatimes.com\/tag\/new+energy+vehicles\">new energy vehicles<\/a> (NEVs), rose 40.7% to make up 47.2% of total car sales last year, closing in on a 50% milestone, buoyed by a programme likened to the 2009 US &#8220;cash-for-clunkers&#8221; stimulus.<\/p>\n<p>More than 6.6 million cars sold last year benefited from government subsidies of up to $2,800 for NEV purchases versus as much as $2,000 for more fuel-efficient combustion engine vehicles. Over 60% of the subsidised purchases went to NEVs, per official data.            <\/p>\n<div class=\"bottom-author-detail\">\n<ul class=\"article-publish-date\">\n                    <!-- \n\n<li> Updated On Jan 10, 2025 at 03:00 PM IST<\/li>\n\n --><\/p>\n<li>Published On Jan 10, 2025 at 03:00 PM IST<\/li>\n<p>                    <!-- \n\n<li class=\"desktop-view\">1 min read<\/li>\n\n -->\n                <\/ul>\n<\/p><\/div>\n<p>            <!-- Category Most Read Placement --><\/p>\n<p>            <!-- Comment Section --><\/p>\n<p>            <!-- Comment Section -->   <\/p>\n<div class=\"subscription-in-article\">\n<div aria-label=\"Top Newsletter Subscription Section\" class=\"top-newsletter-subs\">\n<div class=\"subscription-section hide\">\n<div class=\"inner-subscription\">\n<p><h2>Join the community of 2M+ industry professionals<\/h2>\n<h3>Subscribe to our newsletter to get latest insights &amp; analysis.<\/h3>\n<\/p>\n<figure class=\"top-newsletter-subs__icon-nl\" role=\"presentation\" aria-label=\"Newsletter icon\">\n                <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/st.etb2bimg.com\/Themes\/Release\/theme4\/images\/icons\/icon-newsletter.svg\" alt=\"Newsletter icon\" width=\"55\" height=\"55\"\/><br \/>\n            <\/figure>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"app-download-section hide\">\n<div class=\"inner-app-download\">\n<div>\n<h2>Download ETBrandEquity App <\/h2>\n<ul>\n<li>Get Realtime updates<\/li>\n<li>Save your favourite articles<\/li>\n<\/ul>\n<div class=\"app-store-container desktop-view\">\n                            <a href=\"https:\/\/brandequity.economictimes.indiatimes.com\/app\" title=\"\" aria-label=\"Play Store\"><br \/>\n                                <img decoding=\"async\" loading=\"lazy\" width=\"20\" height=\"20\" src=\"https:\/\/st.etb2bimg.com\/Themes\/Release\/theme4\/images\/icons\/icon-g-play.png\" alt=\"\"\/><br \/>\n                            <\/a><br \/>\n                            <a href=\"https:\/\/brandequity.economictimes.indiatimes.com\/app\" title=\"App Store\"><br \/>\n                                <img decoding=\"async\" loading=\"lazy\" width=\"20\" height=\"20\" src=\"https:\/\/st.etb2bimg.com\/Themes\/Release\/theme4\/images\/icons\/icon-app-store.png\" alt=\"\"\/><br \/>\n                            <\/a>\n                        <\/div>\n<\/p><\/div>\n<figure class=\"download-icon desktop-view\">\n                        <i\/><br \/>\n                        <span class=\"scan-text\">Scan to download App<\/span><br \/>\n                        <img decoding=\"async\" loading=\"lazy\" width=\"90\" height=\"90\" src=\"https:\/\/st.etb2bimg.com\/Themes\/Release\/theme4\/images\/bar-codes\/brandequity_barcode.png?mod=2798\" alt=\"\"\/><br \/>\n                        <span class=\"border-bottom\"\/><br \/>\n                    <\/figure>\n<\/p><\/div>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Representational China&#8217;s car sales maintained their growth pace in 2024 as sales of electric vehicles and plug-in hybrids in the world&#8217;s largest auto market hit a record high amid a brutal price war and with subsidised trade-ins for greener vehicles driving purchases. The outstanding growth in China in a largely stalling global EV landscape spelled [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[98],"tags":[14205,14685,1075,14680,14681,1124,14682,14687,14686,9810,1186,14689,11209,14684,14683,5995,1329,14688],"dealstore":[],"offerexpiration":[],"class_list":["post-22029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing","tag-brandequity","tag-byd","tag-car","tag-car-market-growth-2024","tag-china-car-sales","tag-chinese","tag-electric-vehicles","tag-electric-vehicles-sales","tag-geely","tag-grow","tag-hybrid","tag-hybrid-vehicles-growth","tag-market","tag-new-energy-vehicles","tag-plug-in-hybrids","tag-record","tag-sales","tag-tesla-sales-growth"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Record EV, hybrid sales help Chinese car market grow 5.3%, ET BrandEquity - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=22029\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Record EV, hybrid sales help Chinese car market grow 5.3%, ET BrandEquity - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Representational China&#8217;s car sales maintained their growth pace in 2024 as sales of electric vehicles and plug-in hybrids in the world&#8217;s largest auto market hit a record high amid a brutal price war and with subsidised trade-ins for greener vehicles driving purchases. 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