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In June this year, the number of cars in the country reached 250 million, continuing to maintain a rapid growth rate of more than 9 percent. 250 million cars have accounted for 74.58 percent of the total number of motor vehicles, of which 198 million are private cars.

Although the insured number of cars continues to grow, the number of cars sold in the first half of this year is estimated to be 12.42 million, down 1.39 million from the same period last year and 10.1 per cent lower than the same period last year. This is basically consistent with the domestic narrow passenger car sales data published by the Federation of passengers.

In terms of car ownership in major cities, there were 66 cities with more than 1 million cars as of June, an increase of 8 over the same period last year, of which 29 cities had more than 2 million vehicles. And among these cities, there are more than 5 million in Beijing and Chengdu, and more than 3 million in nine cities such as Shanghai, Chongqing and Suzhou.

Although the specific data on the number of cars in various cities in the first half of this year have not yet been released, according to the existing data, we can see that the rapid growth of car ownership is still in the medium and large cities with a more concentrated population. thus it can be seen that the car consumption in the third-and fourth-tier and even fifth-tier cities which are absolutely dominant in quantity is still relatively small, and we still need to strengthen guidance and promotion efforts.

As the fastest growing new energy vehicle in the past, although it still maintained relatively good growth, under the pressure of the overall car market downturn and the decline of new energy subsidies, the growth rate of new energy also slowed down significantly in May.

As of June, the number of new energy vehicles in the country had reached 3.44 million, an increase of 1.45 million over the same period last year, an increase of 72.85 percent over the same period last year, and an increase of 830000, or 31.87 percent, compared with 2.61 million at the end of last year. Among the 3 million new energy vehicles, the number of pure electric vehicles is 2.81 million, accounting for 81.74 percent.

At present, the amount of new energy accounts for only 1.37% of the total number of cars, but with the popularization of new energy vehicles and the promotion of policies, the number of new energy vehicles will continue to increase in the future.

Under the circumstances that car consumption in third -, fourth-and fifth-tier cities is still relatively small and the growth rate of new energy is slowing down, the good growth rate of car ownership is mainly reflected in the continuous growth of the second-hand car market and the increasing number of experienced drivers.

For a long time, there has been a certain relationship between the transfer of ownership of used cars and the sales of new cars: in 2016, the growth rate of new cars was 15%, and that of used cars was 21%, a difference of 6 points; in 2017, the growth of new cars was 2%, while that of used cars was 15%, a difference of 13 points; in 2018, new cars grew by 5%, and used cars still grew by 9%, a difference of 14 points. New car sales grew by a negative 10% in the first half of this year, while second-hand cars continued to grow by 14%. The gap between the two has widened to 24 points. From this point of view, in the case of a continuing downturn in the market, because of the advantages of high value preservation rate and convenience of used cars, consumers are more inclined to choose used cars, so to a certain extent, it also promotes the development of the used car market.

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