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China's NEV Market Crowded with 100 Brands
BYD dominates 2024 sales share by NEV brand
2025/02/03
- Overview
- BYD dominates amidst the proliferation of 100 brands
- Sales of PHVs growing
Overview
Sales of New Energy Vehicles (NEVs: BEVs (battery electric vehicles), PHVs (plug-in hybrid vehicles), FCVs (fuel cell vehicles)) in China continued to increase steadily in 2024 due to consumption promotion policies by the central and local governments, sales promotion activities by OEMs, market entry by emerging companies, and the launch of new NEV models one after another (Figure 1).
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| Figure 1: NEV sales share in Chinese domestic market (trend) |
(Source: Compiled from MarkLines automobile sales volume data)
Related reports
Chinese Market Q4 2024 (Jan. 2025)
Chinese Market: NEV Sales Trend in 2024 (Dec. 2024)
SAE China 2024: New Energy Vehicles (Dec. 2024)
Auto Guangzhou 2024: NEV Models from Chinese OEMs (Dec. 2024)
2024 China Auto Forum: NEV Development Trends (Aug. 2024)
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