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In this paper, we introduce an advanced vehicular networking architecture combining infrastructure and ad-hoc communications, which differentiates the global traffic information the vehicles use for determining the general routes to their destinations from the local traffic information used for avoiding congestion. While the vehicles obtain the real-time global information by accessing the infrastructure (high-speed backhaul network), they are provided with the updated local traffic information through direct vehicle-to-vehicle ad-hoc communications. The provisioning of the local traffic information is based on a novel scalable, efficient, reliable traffic information aggregation algorithm that is the main contribution of this paper. The effectiveness of the proposed algorithm is verified and the right values for the parameters in the algorithm are determined by means of simulations.