On January 11, 2019, the Ministry of Public Security announced data on vehicle ownership.
By the end of 2018, the number of car ownership in the country reached 240 million, an increase of 22.85 million compared with 2017, an increase of 10.51%. In 2018, the number of new energy vehicles in the country reached 2.61 million, accounting for 1.09% of the total number of automobiles. Compared with 2017, it increased by 1.07 million units, an increase of 70.00%. Among them, in 2018, the cumulative sales of new energy passenger vehicles reached 1.08 million units, an increase of 88.5% year-on-year, and the number of pure electric vehicles was 2.11 million units, accounting for 81.06% of the total number of new energy vehicles.
Overall, in 2018, China's electric vehicle penetration rate has reached more than 4%, close to 5%.
It took us almost 10 years to make electric vehicles from 0 to 1%. From 1% to over 4%, we only spent just three years.
The electric vehicle market is growing rapidly, exceeding our expectations.
Since 2018, the growth of the electric vehicle market has shifted from a policy of single-wheel drive to a policy and market two-wheel drive. Before 2017, about 70% of BYD's sales were mainly in Beijing, Shanghai, Guangzhou and Shenzhen, which was mainly driven by policies. By 2018, the cities driven by policies as Beijing, Shanghai, Guangzhou and Shenzhen, the total amount of car sales is still growing, but the proportion is declining.
The new energy vehicle market in these cities which are not restricted and non-restricted, has been greatly improved. Our data has reached 50%, half of which is policy-driven and half is market-driven. This growth pattern is healthier and more sustainable.
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