AI Data Insight
The latest data from DataTrack shows that China's total new energy vehicle (NEV) sales reached 12.866 million units in 2024, a leap of approximately 35.5% compared to 9.495 million units in 2023. Driven by the "trade-in" policy and robust sales of plug-in hybrid electric vehicles (PHEVs), the NEV market share strongly broke through the 40% mark, though attention must be paid to the impact of the intense price war on automakers' subsequent profitability.