A Hozon Auto stand at the fifth Haikou International New Energy and Intelligent Automobile Exhibition in Haikou, Hainan Province, China, January 6, 2023. (Photo: CFP)

China has remained the top market worldwide in terms of auto production and sales for 14 consecutive years, according to data published by the China Association of Automobile Manufacturers (CAAM) on Thursday.

Automobile production and sales in the country reached 27.021 million and 26.864 million in 2022 respectively, increasing by 3.4 percent and 2.1 percent year on year, said Chen Shihua, deputy secretary-general of CAAM.

Chen emphasized that in the past year, the country's automobile industry has withstood a series of risks, and managed to keep growth momentum thanks to measures aimed to stabilizing the market and boosting consumption.

The production and sales of new energy vehicles was one of the main factors contributing to growth. The country's auto market sold more than 6.8 million new energy vehicles (NEV) in 2022, with their market share rising to 25.6 percent of total sales.

China's NEV industry has benefited from the country's twin green goals of peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060.

CAAM estimated that the Chinese automobile market will continue its upbeat growth momentum in 2023 thanks to China's pro-consumption measures.

"With the implementation of supporting policies and the easing of a chip shortage, the domestic auto market will exhibit stable and positive development in the new year," Chen said.

(Compiled by Yu Dian)