According to the statistics of the Ministry of Public Security, the number of motor vehicles in the country will reach 395 million in 2021, and the number of cars in the country will reach 302 million. Car ownership exceeded 300 million, and motorcycles increased significantly. In 2021, there will be 26.22 million newly registered cars nationwide, an increase of 1.98 million over 2020, an increase of 8.16%. Among them, 4.04 million trucks were newly registered, 120,000 fewer than in 2020, down 2.88%, showing a downward trend. There were 10.05 million newly registered motorcycles, an increase of 1.79 million over 2020, an increase of 21.67%, and maintained rapid growth in the past three years.
The number of new energy vehicles reached 7.84 million. By the end of 2021, the number of new energy vehicles in the country reached 7.84 million, accounting for 2.60% of the total number of vehicles, and the amount of scrap cancellation after deduction of scrap cancellation increased by 2.92 million units compared with 2020, an increase of 59.25%. Among them, there are 6.4 million pure electric vehicles, accounting for 81.63% of the total number of new energy vehicles. In 2021, there were 2.95 million newly registered new energy vehicles nationwide, accounting for 11.25% of the total number of newly registered vehicles, an increase of 1.78 million units compared with the previous year, an increase of 151.61%. In the past five years, the number of newly registered new energy vehicles has increased from 650,000 in 2017 to 2.95 million in 2021, showing a rapid growth trend.
Figure 1: Domestic car ownership and growth rate in the past five years
(Data reference: Ministry of Public Security)
Figure 2: The ownership and growth rate of new energy vehicles in China in the past five years
Figure 3: The number and growth rate of domestic public charging piles in the past five years
Figure 1 shows that the domestic car ownership has shown a continuous growth trend in the past five years, but the growth rate has slowed down significantly. By the end of 2021, the number of cars in the country reached 302 million, an increase of 21 million units over last year, an increase of 7.47%. Figure 2 shows that new energy vehicles have shown a continuous upward trend in the past five years, and by the end of 2021, the number of new energy vehicles in the country will reach 7.84 million, accounting for 2.60% of the total number of vehicles, an increase of 2.92 million units over last year, an increase of 59.35%. As can be seen in Figure 3, the number of charging piles as supporting facilities for new energy vehicles also shows a continuous growth trend, and by November 2021, the number of domestic charging piles has reached 1.092 million, an increase of 385,000 units over last year, an increase of 54.46%.
From the analysis point of view, in recent years, the number of domestic new energy vehicles has continued to grow, for the following reasons:
First, the mission of carbon peaking and carbon neutrality has forced the transformation of the energy industry
On March 15, the ninth meeting of the Central Financial and Economic Commission, General Secretary Xi Jinping stressed that carbon peaking and carbon neutrality should be included in the overall layout of civilized ecological construction. The oil refining and chemical industry emits a huge amount of carbon dioxide, and the consumption of oil by automobiles accounts for about 55% of the total domestic oil consumption, so the implementation of new energy vehicles not only reduces oil consumption and carbon dioxide emissions, but also conforms to the national carbon peak and carbon neutral strategic goals.
Second, the technology of new energy vehicles has been continuously upgraded, and supporting facilities have been gradually improved
Over the years, the cultivation of the entire industrial chain of new energy vehicles has gradually matured the cultivation of supply chains in all links, and the state has introduced various policies to support the healthy development of new energy vehicles. Consumers are gradually moving from knowledge, cognition to understanding of new energy vehicles. It has been recognized by more consumers and the willingness to buy has been continuously enhanced.
The development of new energy vehicles is in line with the strategic goals of carbon peaking and carbon neutrality, and with the gradual upgrading of technology and the gradual improvement of supporting facilities, it is becoming more and more accepted by the public. Therefore, the growth rate of new energy vehicles will continue, and the impact on the traditional refined oil industry will gradually increase.