ÌÇÐÄÆƽâ°æ

In 2023, on average, one in two urban households and one in three rural households in China owned a car. Altogether, there were **** cars for every 100 Chinese households. This figure has increased more than **** in the last decade.

A result of China’s economic miracle

The substantial increase in car ownership in China is directly correlated with the country's rapid economic development since the 1980s. Until the late 1990s, there were few private cars in China. Cars were generally owned by public organizations, corporations, or transportation companies. The opening of joint ventures in China by foreign automotive companies such as Volkswagen and Toyota led to the introduction of more affordable models in the Chinese market. Combined with rising income levels across the country, the number of private cars in China has grown rapidly since, to the point where traffic-related pollution and congestion have gradually become a major problem in China's major cities.

The rise of electric vehicles

In recent years, electric vehicles developed by a number of Chinese automotive companies, including BYD and XPeng, have been gaining ground thanks to the Chinese government's generous incentive policies. As a result, China's EV market has become one of the most competitive in the world. Automotive companies such as BYD, Chery and Geely are also making strong gains in the international market.