中国车市最大的痛点-孩子的需求

AuthorsDirector/Chief Analystzhoulijun1@yiche.comLijun ZhouIndustry Analystgaoying1@yiche.comYing GaoIndustry Analystshibenya@yiche.comBenya Shi From 2022 to 2024, despite intensified crackdowns on illegal off-campus tutoring aimed at reducingeducation-related expenditures and improving teaching quality across schools, the financial burden ofchild-rearing among Chinese car-buying households continued to rise. The proportion of such householdswhose child-related expenses exceeded 15% of total household spending increased from 58.14% to64.01%, ranking first among all major expenditure categories;In comparison, spending on cars ranked third, accounting for 43.13% of major expenditures amongcar-buying householdsa level high enough to warrant concern. This intensifies anxiety across theautomotive industry, as escalating child-rearing costs may increasingly crowd out car purchases. China’spassenger car market has fully entered a retention-based era, with trade-ins and additional purchasesaccounting for nearly 75% of new vehicle sales in 2024. Compared with first-time buyers, these replace-ment-oriented consumers exhibit higher price elasticity: many may choose to wait for larger discounts orpolicy incentives before buying. The deeply rooted emphasis on education among Chinese parents meansthat, even at the expense of delaying or cancelling a vehicle purchase, families will prioritize supporting theirchildren’s academic development. As child-rearing costs continue to climb, car buying is increasinglyvulnerable to erosion. Many households may choose to delay vehicle purchases, lower their purchasestandards, or abandon purchases altogether;Nonetheless, the demands of parenting also create structural demand for vehicle ownershipsuch as fordaily school commutes, extracurricular transportation on weekends and family trips during holidays. Forcarmakers, dealers and platforms like Yiche, this presents an opportunity to actively identify and capturethese structurally induced needs. As for reducing the underlying burden of child-rearing, it remains essentialto place trust in the policy direction of relevant authorities.From 2022 to 2024, rising child-rearing burden emerged as thetop expenditure among Chinese car-buying households, will itcrowd out car consumption or create structural opportunities? Primary consumption expenditure throughout this report denotes consumption item that accountsTop 10 Major ExpenditureItems Exceeding 15% of totalHousehold Spending amongChinese Car BuyingHouseholds 2024Share of Purchase Types of China’sPassenger Vehicle Market (New Car) 2014-20240%20%40%60%80%Nurthuring ChildrenFoodCar Purchase/MaintenanceMortgageTravelMedicare/WellbeingClothing/BeautyCaring for ElderlyEntertainmentDigital/Electronics201920202021202220232024 Source: TYRIfor 15% or more of total household expendituresProportion of Chinese CarBuying Households withChild-Rearing ExpenditureExceeding 15% of TotalHousehold Spending2022-2024Additional PurchaseTrade-InFirst-Time55%56%57%58%59%60%61%62%63%64%65%2022202320240%10%20%30%40%50%60%70%80%90%100%20142015201620172018 In 2024, the average monthly child-rearing expenditure amongChinese car-buying households reached RMB3,546, with themedian spending at RMB2,221. For 33.30% of these households,such expenditures accounted for 10%-30% of their incomeIn 2024, only 17.68% of Chinese car-buying households spent less than RMB1,000 per month onchild-rearing related costs. The largest group (27.60%) spent between RMB1,000 and RMB2,000, while21.32% spent between RMB2,000 and RMB3,000. Another 14.06% fell into the RMB3,0005,000 range,and nearly 20% spent over RMB5,000. The average monthly child-rearing expenditure stood atRMB3,546, with a median of RMB2,221representing a significant burden for many of these households;When examined relative to income, only 28.82% of households kept child-related spending below 10% oftheir total income. For 33.30%, such expenditures accounted for 10%-30% of incomealready a notice-able strain. A further 22.27% of households saw spending reach 30%-50% of income, and for 15.60%,child-rearing expenses exceeded 50% of household income. Without the financial support of extendedfamily members such as grandparents, many of these households face substantial financial stress;In terms of specific expenditure items, the most common was daily living expenses and pocket money,reported by nearly 60% of households. This was followed by tuition and learning supplies, which alignswith the fact that most children in car-buying families are of school age. Extracurricular tutoring rankedfourth in terms of frequency, but its high unit cost makes it a major pressure point. In many Chinesecities, a two-hour tutoring session may cost anywhere from several hundred to several thousand Yuan.For some families, a full day of hard work by the parents may not even cover the cost of their children’safternoon tutoring. While expenditures on housing, vehicles and gifts are less frequently