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China's exports of passenger cars jumped almost 20% in 2024, to almost 5 million vehicles, contributing to a sharp rise in China's overall exports. ... They accounted for 51% of overall new car sales.
The U.S. and Canada were in third place, behind China and Europe, with 1.3 million units in sales. But Chinese manufacturers could find comfort in strong EV sales growth in emerging markets.
Sales of plug-in passenger cars achieved a 9% global market share of new car sales in 2021, up from 4.6% in 2020, and 2.5% in 2019. [2] [7] [8] The PEV market has been shifting towards fully electric battery vehicles. The global ratio between BEVs and PHEVs went from 56:44 in 2012, to 60:40 in 2015, and rose to 74:26 in 2019.
In China, authorized car dealerships are called 4S car shops. The 4S represents sales (整车销售), spare parts (零配件), service (售后服务) and survey (信息反馈). In most cases, brand-name new cars can only be purchased from 4S shops. The profit of car dealerships in China is quite high compared to the rest of the world, in most ...
BYD e6 battery electric taxi in Shenzhen, China Foton BJ6129EVCA-N1 battery electric bus in Beijing, China E-bikes with an estimated fleet of 120 million in early 2010. The electric vehicle industry in China is the largest in the world, accounting for around 58% of global production of electric vehicles (EVs) in 2023 [1] and more than 1.28 million exports in 2024. [2]
Tesla's China EV market share grew to 12% in the first 10 months of 2023, up from 10% in 2022, while BYD's share rose to 27% from 21% over the same period as its lower-end rivals stumbled ...
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Global electric and plug-in hybrid vehicle sales in January rose 18% year on year, as growth in Europe and the United States outpaced China for the first time since last February, research firm ...