China’s passenger new energy vehicle (NEV) sales reached a record high in December, surpassing 1 million units for the fifth consecutive month. Retail sales of passenger NEVs totaled 1.379 million units in December, up 46% YoY and 10% from November, bringing 2024’s total NEV retail sales to 10.98 million units, a 42% increase compared to 2023. Wholesale NEV sales also saw significant growth, totaling 1.5 million units in December, up 35% YoY and 5% from November, with total 2024 wholesale NEV sales reaching 12.22 million units, up 38%. Overall, retail sales of all passenger vehicles in December were 2.62 million units, an 11% increase from the same month in 2023, while 2024’s total retail sales were 22.88 million units, up 5%. NEVs accounted for 52.6% of total retail sales in December, and 47.97% for the year.