China’s Passenger Vehicle Market Rose 7.4% Amid Declining Foreign Share

China’s passenger vehicle sales in China (registration data of both domestic and imported) remained at a high level in 2024, increasing by 7.4% from the previous year to 23,567,395 units. This is approximately 7.7 million units more than the US light vehicle market, which ranks second in the world, making China the world’s largest market since 2009.