The increase of traffic flow in cities causes traffic congestion and accidents as well as air pollution. Traffic problems have attracted the interest of many researchers from the perspective of theory and engineering. In order to provide a simple and practical method for measuring the exhaust emission and assessing the effect of pollution control, a model is based on the relationship between traffic flow and vehicle exhaust emission under a certain level of road capacity constraints. In the proposed model, the hydrocarbons (HC), carbon monoxide (CO), and nitrogen oxides (NO) are considered as the indexes of total exhaust emission, and the speed is used as an intermediate variable. To verify the rationality and practicality of the model, a case study for Beijing, China, is provided in which the effects of taxi fare regulation and the specific vehicle emission reduction policy are analyzed.