Auto industry in China hit record production and sales in 2024, with various positive developments.

From Nasdaq: 2025-01-13 10:32:00

China’s auto production and sales hit new records in 2024, with 31.28 million units produced and 31.44 million units delivered. CES 2025 showcased cutting-edge EVs and AI integrations. Carvana renewed a deal with Ally Financial, Goodyear sold its Dunlop brand to Sumitomo Rubber, GM saw strong growth in China, Tesla recalled 239,000 EVs, and EVgo secured funding from the U.S. DOE.

Carvana secured a deal with Ally Financial despite Hindenburg’s negative report. Goodyear sold its Dunlop brand to Sumitomo Rubber for $701 million, aiming to optimize its portfolio. Tesla’s recall of 239,000 EVs due to rearview camera issues poses no injury risks. GM’s strong performance in China reflects its focus on NEVs. EVgo received $75 million from the U.S. DOE to expand its charging infrastructure.

GM’s joint ventures in China, including Shanghai General Motors, showed strong performance in the NEV sector. The company delivered nearly 600,000 vehicles in Q4 and over 1.8 million in 2024. Tesla introduced a redesigned Model Y in China to compete with local competitors. EVgo plans to build 7,500 new public fast-charging stalls nationwide by 2029 with DOE funding. EU vehicle sales data for December and 2024 will be closely watched.



Read more at Nasdaq: Auto Roundup: GT to Sell Dunlop Brand, CVNA Renews Deal With Ally & More