China achieves record high NEV registrations in H1 with EV domination

A record 4.397 million new energy vehicles (NEVs) were newly registered in China in the first half of 2024, bringing the total number of NEVs on the road to 24.72 million by the end of June, said the police.

The new registrations represent a year-on-year increase of 39.41 percent. In comparison, 3.128 million NEVs were registered in the first half of 2023, a 41.6-percent increase from the same period in 2022.

As of June 2024, China had 440 million motor vehicles in operation, including 345 million cars. All-electric cars dominate among the NEVs on the road, with 18.13 million in use, accounting for 73.36 percent of the total new energy vehicle population, according to data from the police.

Additionally, 13.97 million new drivers received their licenses in the first half of 2024. The total number of licensed drivers in China now stands at 532 million, with 496 million of them being car drivers.

Across the country, 96 cities now boast more than 1 million cars each, an increase of eight cities compared to the same period in 2023. Among them, 43 cities have over 2 million cars, while 26 cities have more than 3 million cars.

Notably, the car populations in Chengdu, Beijing and Chongqing each exceed 6 million, while Shanghai, Suzhou and Zhengzhou are each home to over 5 million cars.