(Yicai) Sept. 11 -- The buyers of Xiaomi Auto’s electric vehicles are mostly young, well paid, love the Xiaomi brand, and are purchasing their first car, according to a new report, which helps to explain the strong early sales and orders for the startup’s first two vehicles versus comparable models from many established carmakers.

Xiaomi Auto’s clients are mainly aged 20 to 30, are also unmarried, and live in China’s first- and second-tier cities, the report published yesterday by auto market research and consulting firm LandRoads said.

Consumer electronics giant Xiaomi announced its entry into the EV market in 2021. The SU7, the first model from its car production unit Xiaomi Auto, hit the market in March last year, priced at CNY210,000 to CNY290,000 (USD29,490 to USD40,725). Over 180,000 have sold, making it the best-selling mid-to-large sedan for a long time. The firm released its second model, the YU7, an all-electric sports utility vehicle, this June, pricing it at CNY250,000 to CNY330,000.

Fifty-three percent of SU7 buyers are young people buying their first car, compared with 51 percent for the YU7, the report showed. The average age of YU7 buyers is 27.7, with nearly 80 percent of them aged 20 to 30. Most are from first- and second-tier cities.

Eighty-six percent of Xiaomi car owners are men, and nearly 60 percent of them are unmarried, according to the report. Almost 70 percent consider the vehicle’s cost-performance the main reason they bought it.

The average annual household income of YU7 owners is CNY314,000 (USD44,090), much higher than the CNY272,000 for new energy vehicle buyers generally in China, LandRoads said, adding that they spend CNY176,000 a year on average, slightly higher than the general NEV buyer.

About 80 percent of SU7 owners cited Xiaomi founder Lei Jun’s “personal charisma” as a motivation for buying, the report said, which dropped to 60 percent for YU7 owners.

More than half of YU7 buyers identified themselves as “die-hard Xiaomi fans” and said they bought the vehicle because of their long-term love and trust in the Xiaomi brand.

The exterior design of Xiaomi’s cars is also a crucial factor in attracting clients. Sixty-eight percent chose the YU7 as their first car for its design, according to the report.

At 61 percent, the top answer to why they bought an YU7 was “I really liked the car,” followed by “for daily leisure activities” at 55 percent, “for short and self-driving trips” at 54 percent, and “for commuting” at 51 percent, the report showed.

On other purchase drivers, YU7 owners place greater importance on comfort as well as smart cockpits and configuration performance, while SU7 owners pay more attention to smart cockpits, driving range, and handling, reflecting differences in expected use and product roles for the two models.

Editors: Tang Shihua, Futura Costaglione