4 in 10 Chinese households now own a light vehicle
Vehicle ownership rates continue to rise across China, despite the recent market chill, with more than 40 of every 100 households in the country owning a light vehicle at the end of November.
That was up from 36 of 100 households that owned or leased a vehicle at the end of 2016, according to China’s Ministry of Public Security.
The number of privately owned light vehicles across the country increased to 187 million in November from 146 million at the end of 2016.
During the latest 23-month period, the number of licensed vehicle drivers rose from 310 million to 407 million, or 29 percent of China’s population, estimated at 1.4 billion people.
With more light vehicles on local roads, the number of Chinese cities with a fleet size of more than 1 million vehicles reached 61 in the period.
And the number of cities with a fleet size of more than 2 million vehicles rose to 26 from 18, according to the ministry.
The number of privately owned light vehicles across the country increased to 187 million in November from 146 million at the end of 2016.
During the latest 23-month period, the number of licensed vehicle drivers rose from 310 million to 407 million, or 29 percent of China’s population, estimated at 1.4 billion people.
With more light vehicles on local roads, the number of Chinese cities with a fleet size of more than 1 million vehicles reached 61 in the period.
And the number of cities with a fleet size of more than 2 million vehicles rose to 26 from 18, according to the ministry.
