1、Insights on Household Income&Expense of Chinese Car Buyers Raising Children(2025)TengYi Research InstituteThe Biggest Pain Pointof Chinas Car Market:KidsNeedsAuthorsDirector/Chief ALijun ZhouIndustry AYing GaoIndustry ABenya ShiFrom 2022 to 2024,despite intensified crackdowns on illegal off-campus t
2、utoring aimed at reducing education-related expenditures and improving teaching quality across schools,the financial burden of child-rearing among Chinese car-buying households continued to rise.The proportion of such households whose child-related expenses exceeded 15%of total household spending in
3、creased from 58.14%to 64.01%,ranking first among all major expenditure categories;In comparison,spending on cars ranked third,accounting for 43.13%of major expenditures among car-buying households a level high enough to warrant concern.This intensifies anxiety across the automotive industry,as escal
4、ating child-rearing costs may increasingly crowd out car purchases.Chinas passenger car market has fully entered a retention-based era,with trade-ins and additional purchases accounting for nearly 75%of new vehicle sales in 2024.Compared with first-time buyers,these replace-ment-oriented consumers e
5、xhibit higher price elasticity:many may choose to wait for larger discounts or policy incentives before buying.The deeply rooted emphasis on education among Chinese parents means that,even at the expense of delaying or cancelling a vehicle purchase,families will prioritize supporting their childrens
6、 academic development.As child-rearing costs continue to climb,car buying is increasingly vulnerable to erosion.Many households may choose to delay vehicle purchases,lower their purchase standards,or abandon purchases altogether;Nonetheless,the demands of parenting also create structural demand for
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