China's car ownership will exceed 340 million by 2024, and new energy vehicle production and sales will reach a new high

As of May 2024, China's car ownership has exceeded 340 million, and it is expected that China's car growth will reach 31 million this year. Among them, the ownership and production and sales of new energy vehicles have reached new highs, exceeding 21 million and 13 million respectively. This data shows that the overall scale and output value of China's independent automotive aftermarket are constantly expanding, but insufficient purchasing power and market homogeneity competition are still the main factors restricting market development.