U.S. new-car sales in 2024 continued to rise from their pandemic lows, bolstered by replenished inventories, higher incentives and surging demand for hybrid vehicles, automakers reported on Friday.

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.

Sales of EVs and plug-in hybrids, known collectively as new energy vehicles (NEVs), rose 40.7% to make up 47.2% of total car sales last year, closing in on a 50% milestone, buoyed by a programme likened to the 2009 US "cash-for-clunkers" stimulus.