Drivers of Chinese cars can expect to pay about $2,400 for a new vehicle in the country, according to the country’s National Vehicle Administration.
Drivers will also be required to buy insurance for up to $3,600.
But even that won’t protect them from the hazards they face on the roads.
“We can see from a number of studies and surveys that the insurance premiums will increase significantly,” said Wu Yu, a professor of environmental health at the University of Hong Kong.
And even if you’re insured, Wu added, “you still need to pay attention to the roads and the road traffic.”
“You should be aware of the risks of driving and you should make sure you’re in a safe driving situation,” Wu said.
The average annual price of a Chinese car is $21,800, according the National Insurance Administration.
But Wu said insurance premiums have been on the rise over the past several years.
He said one of the reasons for that is a lack of competition among manufacturers.
China has a population of roughly three billion, so car manufacturers have an incentive to focus on high-quality models.
“That’s the only reason why prices are going up so much, and not because there are any more competitors,” Wu added.
With prices soaring, many drivers are choosing to drive less and less frequently.
According to a 2014 study by the U.S. Government Accountability Office, more than 1.1 million drivers were injured or killed in accidents in China in the year ending in March 2015.
A survey by the Chinese Academy of Sciences found that only 13 percent of drivers reported driving in a manner that was safe, while 58 percent reported that they would avoid driving altogether.
More than a quarter of drivers said they wouldn’t pay for a replacement vehicle in their first year.