易车：2025金融资产提升趋势助推中国车市高质量发展：中国购车家庭财富洞察报告之资产负债表（英文版）（25页）.pdf

1、Insights on Household Income&Expense of Chinese Car Buyers Balance Sheet(2025)TengYi Research InstituteRising Financial Assets Boost High Quality Growth of Chinas Car MarketAuthorsDirector/Chief ALijun ZhouIndustry ABenya ShiDespite ongoing macroeconomic pressure,the disposable income of Chinese car

2、-buying households has continued to climb surpassing RMB 200,000 and reaching RMB 204,900 in 2024.This steady rise is driven primarily by internal structural shifts most notably,older buyers and more middle-class buyers.In 2024,the average age of car buyers exceeded 40,while middle-class households

3、accounted for over 45%of the market.Compared with the earlier base of younger,blue collar buyers,todays middle-aged,middle-class buyers possess significantly higher earning power.Post-pan-demic trends including the rebound of Chinas equity markets and a surge in gold prices have further lifted the i

4、ncomes of financially asset-rich middle-aged families;For more than a decade,mortgage payments have been the biggest expense for car-buying house-holds.Following the pandemic,to revive the property sector and reduce household leverage,policy-makers sharply lowered mortgage rates from around 56%to 34

5、%,easing monthly burdens and pushing total household spending down slightly to RMB 140,900 in 2024;Under the dual effect of rising income and declining expenses,households surpluses rose sharply to RMB 64,000 setting the stage for the next growth phase of Chinas car market.In 2024,the average annual

6、 income of Chinese car-buying house-holds exceeded RMB 200,000,while annual spending dropped to RMB 140,900,resulting in a balance that surged to RMB 64,000,setting the stage for a new phase of growth in Chinas car marketSource:TYRIBlue Collar:household annual disposable incomeRMB 500K.Youth:35;Midd