1、Insights on Wealthy Car Market(2024)Yiche Research InstituteHigh Knowledge Wealthy Buyers to Redefine Chinas High-End Car MarketAuthorsDirector/Chief AIndustry AIndustry ALijun ZhouYing GaoBenya ShiVisual DQiang ZhangWealthy Car Market:vehicle segment composed of buyers with annual household disposa

2、ble income RMB500KThanks to vigorous development of Chinas economy and car market so far this century,Chinese wealthy car buyers desired international high-end brands like Audi,Mercedes and BMW,helping to drive annual sales of each of these German brands to 700,000-800,000 units,pushing their annual

3、 global sales to near or past 2 million units.Over the past three years(2021-2023),new Chinese high-end brands like Li Auto,Denza,NIO,AITO and TANK emerged like bamboo shoots after spring rain,attracting a huge group of Chinese wealthy car buyers while posing major challenges to BBA:their sales in C

4、hina have stagnated or fallen,and they are mired in price wars;Because YRIs core analysis logic is based on users,in order to explore the reasons behind these changes,their industry influence and future trends,this report focuses on the analysis of the evolution of users in Chinas wealthy car market

5、;The research data presented in this report is primarily based on YRI online research with a sample size of more than 60,000 in 2023,as well as on Yiche Big Data and YRI offline research with a sample size of more than 10,000 in 2023;YRIs insights series on specific segments of car buyers are only b

6、ased on data from new car sales.Please treat our findings with a grain of salt:the drop in young buyers in the new car market,for example,does not necessarily mean overall young buyers are shrinking since more and more of them are flocking to the used car market.Middle-ClassMarketWealthyMarketBlue C