Recently, the Ministry of Industry and Information Technology announced the average fuel consumption and new energy vehicle points of Chinese passenger car companies in 2024.

Overall, in 2024, 117 passenger car companies in China produced/imported a total of 23.189 million passenger cars (including new energy passenger cars, excluding exported passenger cars, the same below), the industry's average vehicle curb weight was 1,712 kg, the average fuel consumption actual value (WLTC condition, the same below) was 3.31 liters/100 kilometers (a year-on-year decrease of 12.4%), the average carbon dioxide emissions were 78.47 grams/kilometer, the positive fuel consumption points were 52.852 million points, the negative fuel consumption points were 5.847 million points, the positive points for new energy vehicles were 17.288 million points, and the negative points for new energy vehicles were 1.01 million points.

From the perspective of enterprise type, the average fuel consumption and carbon dioxide emissions of domestic passenger car manufacturers are better than those of imported passenger car suppliers, and the output of new energy vehicles is also relatively high.

Among them, 93 domestic passenger car manufacturers have produced a total of 22.563 million passenger cars, with an average vehicle curb weight of 1,704 kg, an average fuel consumption of 3.21 liters/100 kilometers, an average carbon dioxide emission of 76 grams/kilometer, a positive fuel consumption score of 52.835 million points, a negative fuel consumption score of 4.917 million points, a positive new energy vehicle score of 17.279 million points, and a negative new energy vehicle score of 904,000 points.

24 imported passenger car suppliers imported 626,000 passenger cars, with an average vehicle curb weight of 1,998 kg, an average fuel consumption of 7.58 liters/100 kilometers, an average carbon dioxide emission of 179.55 grams/kilometer, a positive fuel consumption score of 17,000 points, a negative fuel consumption score of 930,000 points, a positive new energy vehicle score of 9,000 points, and a negative new energy vehicle score of 107,000 points.

According to the appendix "Table 1 Calculation of Points for Passenger Car Average Fuel Consumption in 2024", a total of 65 companies (mainly domestic production companies) have successfully achieved fuel consumption standards. Among them, BYD Auto Industry Co., Ltd. has the highest fuel consumption points and new energy vehicle points, which are 13,161,358 points and 3,844,642 points respectively; the only company with negative new energy vehicle points is GAC Toyota Motor Co., Ltd., with a negative score of -104,581 points.

Another 29 companies have achieved zero carbon emissions, such as Tesla (Shanghai) Co., Ltd., GAC Aion New Energy Automobile Co., Ltd., Zhaoqing Xiaopeng New Energy Investment Co., Ltd., and NIO Technology (Anhui) Co., Ltd. The company with the highest average carbon dioxide emissions is Beijing Automotive Manufacturing Co., Ltd., which is 132.35 grams per kilometer. In addition, GAC Toyota, Hebei Changan, Chery, SAIC Maxus and SAIC General Motors have relatively high carbon emissions.

According to the appendix "Table 2 Calculation of Points for Enterprises with Average Fuel Consumption of Passenger Cars Not Meeting the Standard in 2024", a total of 52 companies did not meet the fuel consumption standard, among which FAW-Volkswagen Automotive Co., Ltd. had the highest negative fuel consumption points and negative new energy vehicle points, which were -1,354,925 points and -262,296 points respectively. General Motors (China) Investment Co., Ltd. has the highest average carbon dioxide emissions of 287.24 grams per kilometer; Aston Martin Lagonda (China) Automobile Sales Co., Ltd., Volkswagen (China) Sales Co., Ltd., Jiangxi Isuzu Motors Co., Ltd., Chrysler (China) Automobile Sales Co., Ltd. and other companies also have relatively high carbon emissions.

my country's current dual-credit policy for passenger cars consists of CAFC credits (corporate average fuel consumption credits) and NEV credits (new energy vehicle credits). Under the guidance of the dual-credit policy, China's new energy vehicle penetration rate has increased significantly in recent years. At present, the new energy penetration rate has exceeded 50%, ranking first in the world.

According to the 2024 annual accounting results, the rapid development of new energy vehicles has alleviated the overall fuel consumption pressure of the industry to a certain extent, but the gap between car companies is becoming increasingly obvious. In the future, with the continuous improvement of credit accounting standards and the increase in the cost of fuel vehicles, the transformation pressure faced by traditional car companies will be further increased. And those new energy car companies with a large number of credit reserves will have the opportunity to obtain additional benefits through credit transactions, thereby further promoting technological innovation and capacity expansion, and promoting China's automobile industry to move towards a green, low-carbon and high-quality direction.

Author：Qinger