Chinese man buys US$210,000 car for ride-hailing business, claims to earn US$4,800 a month

A Chinese man who spent 1.55 million yuan (US$210,000) on a Maybach S480 car to use as a ride-hailing vehicle has revealed that he can earn more than 5,000 yuan (US$700) from a single trip, sparking lively debate online.

The man, surnamed Yuan, and based in Beijing, has attracted significant attention on social media for using a Mercedes-Maybach as a ride-hailing vehicle.

He documents his daily experiences on his account, “Old Yuan Drives a Maybach for Ride-Hailing,” which has amassed nearly 120,000 followers.
According to his profile, Yuan, 30, from Henan province in northern China, has been driving luxury ride-hailing cars in Beijing since 2019.

He bought the Maybach on November 1, last year, and began documenting his journey to “break even” via videos.

(The plush interior of the vehicle. Yuan says he only caters for high-end clients. Photo: 163.com)

In one video posted on April 13, Yuan revealed that he started his workday at 6.45am and secured a client for a full-day booking, earning 4,000 yuan (US$550) in just one day.

“Let’s go! Driving a luxury Maybach ride-hailing car is not only my job but also my livelihood. Currently, the Maybach model can only be specifically ordered for ride-hailing in Beijing and Shanghai,” he said.

In an interview with Haibao News on April 15, Yuan revealed that he made a down payment of 680,000 yuan (US$93,000) for his Maybach, 500,000 yuan of which came from savings made over the past six years in the ride-hailing industry.

The remaining amount was financed from a five-year loan with monthly repayments of 14,466 yuan (US$2,000).

Yuan stressed that his ride-hailing service prioritises quality over quantity, catering to high-end, pre-booked clients.

He completes an average of 40 orders per month, with a single trip sometimes earning more than 5,000 yuan (US$700).

After deducting personal expenses, Yuan says he can still save nearly 10,000 yuan a month while enjoying a relatively relaxed lifestyle.

(Yuan says he can make US$700 from a single trip, adding that the “best part” is that he gets to drive a Maybach. Photo: 163.com)

“My monthly fuel costs are about 3,000 yuan (US$400). I spend another 2,000 to 3,000 yuan on food, and rent is 4,500 yuan (US$600). I still have some savings left. The best part is that I get to drive a Maybach at only 30 and still save close to 10,000 yuan a month,” said Yuan.

Ref:  Chinese man buys US$210,000 car for ride-hailing business, claims to earn US$4,800 a month (scmp)