As of the end of 2023, vehicle ownership per 1,000 people in China for the post-80s and 90s reached 500, popularizing car consumption in the country. But the same metric for the post-60s is less than 50, which means great potential remains for this cohort of buyers. China is fast becoming an aging society as the number of people that are 60 years old or above reached 298 million in 2023, or 21.1% of the country’s total population. That represents significant market potential;
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