BEIJING - China's automobile industry revenue grew 4 percent to surpass 10.6 trillion yuan ($1.48 trillion) in 2024, data from the China Passenger Car Association showed Tuesday.

The sector showed accelerating growth momentum in December 2024, when revenue increased 13 percent year-on-year to 1.19 trillion yuan, outpacing the full-year growth rate.

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In 2024, the auto industry maintained a steady 4.3 percent profit margin while navigating market transitions, and lithium battery manufacturers posted a 48.5 percent profit surge, the data showed.