Econintersect: There is a reason that Shanghai has huge traffic jams.Shanghai had a total vehicle population of 3.09 million units at the end of 2010, an increase of 8.7 percent from a year earlier, according to Shanghai Statistics Bureau yesterday. That includes 1.7 million autos, 1.29 million motorcycles, in addition to trailers and other types of vehicles. Follow up:
The bureau said autos owned by individuals rose rapidly to 1.03 million units by the end of 2010 with an annual 22 percent growth, fueled by government incentives such as favorable tax on small cars to boost vehicle consumption.
New car registrations surged 50 percent to 337,900 units last year.
Source: Shanghai Daily