In this paper, the vehicle‐to‐vehicle (V2V) channel characteristics in peak hours at the 5.9 GHz band in two typical urban road scenarios, the urban straight road and the intersection, are investigated. The channel characteristics, such as path loss, root mean square (RMS) delay spread, and angular spread, are derived from the ray‐tracing (RT) simulations. Due to the low height of antennas at both the transmitter (Tx) and the receiver (Rx), the line of sight (LOS) between the Tx and the Rx will often be obstructed by other vehicles. Based on the RT simulation results, the shadowing loss is modelled by the multimodal Gaussian distribution, and path loss models in both LOS and non‐LOS (NLOS) conditions are obtained. And the RMS delay spread in two scenarios can be modelled by the Weibull distribution. In addition, the deployment of an antenna array is discussed based on the statistics distribution of the angular spread.