Monday, July 8, 2013

How can Chinese people buy a car?

In China even in secondary cities, roads are more and more jammed with cars. And it doesn't help that Chinese roads get larger with 4, 6 lanes!
Even though driving a car is not that convenient: traffic jams, accidents... Even though you can take the bus, drive a scooter, take the subway.
Chinese people all want to own a car!

But a car is expensive!
The cheapest car, QQ car costs 60 to 70 thousands Rmb.
Most cars cost between 120 to 150 thousands Rmb.
A few expensive cars cost 500 thousands to 1 million Rmb or more, Porsche, Ferrari, Cadillac, Royce...
Also you need to pay for the insurance, the check up, the repairs...

Still in Changsha the average salary is 2500 to 3000rmb a month.

In these condition, how can Chinese people pay for their car?
  • Daddy's boys and girls get their car for free as a present for a success at the university exam for instance. At Changsha most sport car belong to daddy's boys. They don't buy their car
  • Family put together the money in order to buy  a car. In China families share all their income. Parents, husband, wife... put their money together in order to buy a car. Sometimes parents  lend to their children
  • Companies and administrations buy cars for their staff
  • Chinese people don't spend their money the same way as we do. They often live at their parents place, spend little on food but can invest in a car, some perfume, a expensive bag... Many Chinese people would rather buy a car first rather than saving for an appartment.
  • Many Chinese consummers pay a loan over 5, 10 years in order to pay for their car

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