BEIJING, Jan. 13 (Xinhua) -- China's auto sector hit a milestone in 2024 as both production and sales exceeded 31 million units, industry data showed on Monday.

The country's total auto output was 31.28 million units last year, up 3.7 percent from the 2023 level, and sales rose 4.5 percent year on year to reach 31.44 million units, according to the China Association of Automobile Manufacturers.

China's auto output and sales remained first globally in 2024, according to the association.

Despite insufficient consumer confidence, growing trade protectionism and intensified competition, the country's auto sector achieved steady development, bolstered by government policies and enterprise-driven promotions, the association said.

One of the sector's highlights last year was the new energy vehicles (NEVs). NEV production grew 34.4 percent to 12.89 million units and NEV sales rose 35.5 percent to 12.87 million units, according to the data.

NEV sales accounted for 40.9 percent of all new car sales in 2024, an increase of 9.3 percentage points from 2023.

Last year, the country launched a multi-billion-dollar consumer goods trade-in program -- the first of its kind in nearly 15 years -- to stimulate domestic demand. The initiative has boosted consumption significantly and facilitated the auto industry's green transition.

Per government policies, consumers trading in old cars for NEVs are each entitled to a 20,000-yuan (about 2,782 U.S. dollars) subsidy, higher than the 15,000-yuan subsidy given to those opting to replace their vehicles with new, fuel-powered cars.

Last year, the country exported 5.86 million vehicles, a surge of 19.3 percent year on year, the data showed.

Industry observers say China's auto sector is projected to maintain its growth momentum in 2025, as greater potential of the automobile market is expected to be unleashed following the implementation of a series of supportive measures.

To boost domestic demand and stimulate economic growth, China announced a series of measures earlier this month to broaden the consumer goods trade-in program, including automobiles. Enditem

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