According to statistics from the Ministry of Public Security, the number of motor vehicles in China reached 372 million in 2020, an increase of 24 million compared with 2019, including 281 million automobiles, an increase of 21 million compared with the previous year.
In 2020, a total of 33.28 million new motor vehicles were registered in China, an increase of 1.14 million compared with 2019, with a growth rate of 3.56%.
Among them, there were 5.77 million new registered vehicles in the first quarter, a decrease of 21.17% year-on-year, which was significantly affected by the COVID-19 pandemic. In the second quarter, 8.36 million new registered vehicles were recorded, an increase of 7.18% year-on-year, indicating a recovery in the motor vehicle consumption market. In the third and fourth quarters, there were 9.03 million and 10.12 million new registered vehicles respectively, with year-on-year growth rates of 20.48% and 29.27%. The motor vehicle consumption market rebounded significantly in the last two quarters, maintaining a rapid growth trend.
In China, there are 70 cities with more than 1 million motor vehicles, an increase of 4 cities compared with the previous year. Among them, 31 cities have more than 2 million vehicles and 13 cities have more than 3 million vehicles. Among these cities, Beijing, Chengdu, and Chongqing have more than 5 million vehicles, while Suzhou, Shanghai, and Zhengzhou have more than 4 million vehicles. Additionally, Xi’an, Wuhan, Shenzhen, Dongguan, Tianjin, Qingdao, and Shijiazhuang have more than 3 million vehicles.
As of the end of 2020, the number of new energy vehicles in China reached 4.92 million, accounting for 1.75% of the total number of motor vehicles, and an increase of 1.11 million compared with 2019, with a growth rate of 29.18%. Among them, there were 4 million pure electric vehicles, accounting for 81.32% of the total number of new energy vehicles, an increase of 900,000 compared with the previous year. The increase in new energy vehicles exceeded 1 million for three consecutive years, showing a sustained and rapid growth trend.
Image Source: World Bank Group
🔗Sources: Ministry of Public Security Traffic Management Bureau, People’s Public Security News
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.