Driven by the global wave of carbon neutrality and the intelligent transformation of the automotive, new energy vehicles are reshaping the travel market with an average annual growth rate of than 40%. By the first quarter of 2025, China’s new energy vehicle ownership will exceed 28 million, with a penetration rate of over 45%. This trend has not only spawned trillion-level financial demand, but also triggered a profound change in the logic of consumers’ car purchase decisions. This article will analyze the underlying logic and development opportunities of the new energy vehicle financial market from the dual perspectives of financial product innovation and consumer behavior evolution.
Reconstructing the new energy vehicle consumption value chain
Young first-time buyers: launch a “0 down payment + 5-year long loan” combination, such as the “Youth Plan” launched by Ping An Bank and Xiaomi Auto, with a down payment ratio as low as 0%, an annualized interest rate of 4.2%, and a monthly payment pressure that is 35% lower than traditional auto loans.
Replacement and upgrade groups: develop an integrated product of “old car valuation + new car loan”, such as Yixin Finance’s “Worry-free Replacement Loan”, where the residual value of the old car is directly deducted from the down payment, and the loan approval cycle is shortened to 2 hours.
Enterprise users: provide a “bulk purchase + step-by-step repayment” plan, such as the “three-year installment + operation sharing” model designed by CCB Taizhou Branch for car-hailing platforms, which reduces the initial capital occupation of enterprises by 60%.
Information acquisition: According to the data from the DoCar platform, new energy vehicle users browse 12.7 vehicle model pages on average, and their focus has shifted from driving range to the dual dimensions of “charging convenience + financial solutions”.
Financial decision-making: 68% of consumers conduct loan pre-approval through bank apps, and the average daily application volume of the “new energy zone” of China Merchants Bank’s “Life on Palm” exceeds 12,000, with an approval rate 23 percentage points higher than that of offline channels.
Word-of-mouth communication: The reading volume of the topic “New Energy Vehicle Finance” on Xiaohongshu exceeds 800 million, and the “Car Pickup Diary + Repayment Guide” shared by real users has become a key basis for decision-making.