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China Poised For Plug-in Electric Vehicle Volume Growth Going Forward

China is the world’s most populous country and also the largest automotive market, outselling the U.S. by more than 6 million units in 2013. But the country still has a low vehicle ownership rate of around 79 vehicles per 1,000 inhabitants, dwarfed by the massive 791 vehicles per 1,000 inhabitants for the U.S. As China is the fastest growing major economy, increasing disposable incomes and development in the low-tier cities could continue to bolster expansion of the country’s automotive industry. However, higher vehicle sales have also led to congested roads and alarming pollution levels in some of the highly populated parts of the country. China has consequently looked to impose limitations on the number plate sales volumes and also the permissible running age of a vehicle. The government is also encouraging sales of the relatively more environmentally-friendly Electric Vehicles and Hybrid Electric Vehicles (EV/HEV).


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