China has renewed a trade-in subsidy of up to 20,000 yuan ($2,730) to help underpin sales of fuel-efficient vehicles, including electric cars and hybrids.

Ford posts record EV sales and a 6% retail boost in 2024, driven by electric and hybrid vehicles, trucks, and strong Lincoln brand growth.

With 2024 in the rearview mirror, a clearer picture of the auto industry’s year is becoming clearer. Automakers selling in the United States saw big gains in electric vehicle sales, though there’s speculation that the potential loss of tax credits coming with the Trump administration drove sales late in the year.

The threat by President-elect Donald Trump to end tax credits for electric vehicles helped lift sales in the fourth quarter, giving US automakers a much-needed boost after a disappointing year.