2026年的中国豪华车市场，正经历前所未有的格局洗牌。宝马开年官方降价，保时捷持续精简经销 商网络以应对连续四年的销量下滑，捷豹、沃尔沃等二线豪华面临终端价格崩盘，部分车型价格与合资 同级持平。这一系列事件，正式宣告外资豪华品牌迈入战略收缩元年。曾独霸中国高端市场数十年的外 资品牌正由盛转衰。这并非短期波动，而是产业、竞争、消费三重变革叠加的系统性变化，其独领风骚 的时代或将一去不返。 回望2016年，中国豪华车市场还是外资品牌的独角戏。笔者至今记得某德系豪华品牌发布会的场 景：主办方未配齐同声传译，负责人用英语畅谈"全球统一标准"，台下中国媒体和经销商只能凭荧幕画 面揣摩内容。彼时BBA合计占据94.03%的豪华车市场份额，其余不足6%的空间由其他进口豪华品牌角 逐。中国本土品牌则是"边缘人"，整体市场份额不足40%，仅能在15万元以下低端市场挣扎，尝试冲击 20万元价位的品牌，多被贴上"不自量力"的标签。 外资的技术封锁与市场傲慢，倒逼中国汽车人走上自主研发之路。2017年春，笔者走访某自主品牌 研发中心，工程师们围着拆解的外资发动机逐件测量参数，泡面桶、咖啡罐堆满角落，灯光亮至凌晨两 三点是常态。一位工 ...

进入2026年，国内重卡行业依旧维持高景气运行态势，市场需求热度不减，为中国重汽的业绩增长 提供了良好外部环境。花旗分析师指出，2026年1月针对商用车的利好政策早于预期出台，不仅有望推 动春节后相关刺激政策提前落地，更将进一步提振投资者信心。从行业层面来看，内生复苏逻辑也在持 续强化市场预期，开源证券分析认为，2017-2021年行业高峰期购入的重卡已逐步进入8年置换周期， 2026年重卡更新主波峰即将到来，这一行业趋势将为中国重汽带来持续且稳定的市场需求。 花旗银行对渠道调研显示，2026年1月国内重卡订单表现出色，2026年1月国内订单预计同比增长 2%-3%，出口订单预计同比增长15%-22%。分析师认为，由于重卡出口的单车净利润可能是国内的8-12 倍左右，销量前景和销售结构的变化都将改善中国重汽2026和2027财年的毛利率和营业利润率趋势。 面对良好的市场环境，中国重汽乘势而上，在2026年1月顺利实现首季"开门红"。旗下济南卡车制 造公司捷报频传，日产能已超过800辆，生产效率稳步提升，各项经营指标持续向好。在市场订单方 面，公司同样喜讯不断，近期已顺利向张家界市交付首批30台豪沃TX新能源搅 ...

岚图汽车CBO、销售公司总经理邵明峰表示，岚图2026年的产品阵容将组成"三王一炸"王牌组合，岚图泰山Ultra是"智驾王牌"，岚图泰山X8是"空间王 牌"，岚图FE（代号）是"颜值王牌"，岚图珠峰（代号）是"科技王炸"。全系车型均搭载L3级智能辅助驾驶硬件，将在驾控体验、智能交互、豪华品位等各 方面给市场带来全新惊喜。4款重磅产品的组合，将成为岚图2026年提升市场份额、强化用户口碑、推动品牌体系全面进阶的组合王牌，必将重塑中国高端 新能源市场格局。 新时代旗舰大六座SUV岚图泰山，以"世界前五，中国第一"三腔空悬，打破国外豪华品牌对该技术的垄断，在多个关键维度实现了同级领先。其中岚图 泰山Ultra更将成为中国首款量产L3级SUV。岚图泰山Ultra拥有最领先的华为乾崑智驾ADS 4四激光解决方案，搭载智能调光隐私车窗、光瀑格栅等豪华配 置。岚图泰山L3级智能辅助驾驶测试车已进入最后冲刺阶段，该车型将于2026年3月开启交付。 岚图全新推出的"庭院级大五座SUV"岚图泰山X8，致力于构建一个"可移动的家庭生活空间"，为中国家庭用户提供空间体验与智能出行解决方案。该车 车长5200mm，宽2025mm，高1 ...

由工业和信息化部组织制定的强制性国家标准《汽车转向系 基本要求》（GB17675-2025）（以下简称"新国标"），已 由国家市场监督管理总局、国家标准化管理委员会批准发布，并将于2026年7月1日起正式实施。 "新国标的修订主要体现为两方面，一是新增线控转向系统的失效降级要求、报警要求、功能安全要求，为线控转向划定清 晰的安全边界；二是修订传统转向系统及辅助转向装置的功能安全要求，进一步引导转向技术迭代进步。"戎辉对记者表 示，"线控转向并非全新概念，2021年的修订已对其做出定义，但受限于当时技术成熟度，量产应用一直存在瓶颈。这一结 构型式取消了传统转向柱的刚性连接，必须依靠供电、通信、软件与硬件等多方面的冗余设计来保障安全。因此，本次修订 与其说是删除了转向机构机械连接的强制要求，不如说是基于我国汽车电动化、智能化的技术迭代节奏，系统性新增并完善 了线控转向的安全要求，保障安全应用。"在他看来，这一步确实是全线控转向商业化的关键一步，解决了技术能否合法落 地的问题，但并非决定性一步。技术商业化的最终实现，根本还是取决于行业技术的持续迭代与成熟；而标准的修订完善， 正是通过为技术创新拓宽发展空间、为产业升 ...

Core Viewpoint - The significant rise in prices of raw materials such as lithium, copper, and aluminum, along with DRAM storage chips, is expected to impact the electric vehicle (EV) industry, leading to increased production costs and potential profit erosion for manufacturers [2][3][4]. Group 1: Raw Material Price Increases - Lithium carbonate prices have surged, with futures reaching 182,000 yuan/ton, marking a two-year high, and spot prices increasing from 75,700 yuan/ton to 175,000 yuan/ton over a year [2]. - The cost of aluminum for a typical mid-sized electric vehicle has increased by 600 yuan, while copper costs have risen by 1,200 yuan in the last three months [3]. - The price of automotive DRAM storage chips has skyrocketed by 180% in three months, with costs per vehicle rising from approximately $100 to 2,000 yuan, an increase of 1,300 yuan [3][5]. Group 2: Impact on Electric Vehicle Costs - For a pure electric vehicle with an 80 kWh battery, the increase in lithium costs alone could add approximately 3,800 yuan to the vehicle's production cost [3]. - Range-extended electric vehicles and plug-in hybrids are also facing cost increases, with lithium costs rising by about 1,900 yuan and 1,000 yuan respectively [4]. - The overall cost pressures from rising prices of lithium, copper, and aluminum are significant for all types of electric vehicles [4]. Group 3: Challenges for Automotive Manufacturers - Major automotive manufacturers may struggle to pass on increased costs to consumers due to intense market competition, potentially leading to profit margins approaching zero [6][7]. - Smaller manufacturers, already at a disadvantage, face heightened cash flow pressures and may be forced out of the market due to their inability to absorb rising costs [7]. - The competitive landscape is forcing all manufacturers, regardless of size, to confront unprecedented challenges due to the rising costs of raw materials [7]. Group 4: Strategic Responses - Companies are focusing on enhancing product value through advanced features like high-level intelligent driving and smart cockpit systems to offset rising costs [9]. - The shift towards value enhancement rather than mere scale expansion is becoming a new industry trend, emphasizing technological innovation and quality improvement [10]. - Many companies are exploring overseas markets to mitigate risks associated with rising costs, taking advantage of favorable trade policies in regions like Canada [9][10].

据悉，极氪9X自上市以来，热度持续走高，已连续两个月位居50万级以上大型SUV市场销冠，单车交付均价超53万元，成为中国品牌在该 价位段的标杆。极致的产品力，也吸引了海外关注。根据公开报道，因一车难求，极氪9X在多个海外市场上演加价潮，部分海外终端市场甚至 售价翻倍。 作为新一代豪华旗舰，9X搭载诸多行业领先的科技配置，这为产能快速提升带来了挑战。极氪方面表示，经过和供应链伙伴的共同努力， 部分零部件的产能爬坡已取得积极进展。 1月29日，记者获悉，面对持续火爆的订单和大量等车用户，极氪9X推出行业最高标准的等车权益。官方公告显示，若提车时间超过极氪 APP显示的预计交付最晚日期，极氪将按200元/天发放用户专属感谢金，直至交付通知当日，累积金额最高12000元，并可在提车时直接抵扣尾 款。 目前，极氪9X Max版和Ultra版提车周期缩短至2-6周，选装智能主动稳定杆的Ultra版交付周期为4-8周。而Hyper版与曜黑版交付周期也缩 短了4周，但因前期订单远超预期，仍需消化大量前序积压订单，交付还需一定时间。 业内人士分析，和同级其他品牌靠中低配走量不同，极氪9X的订单结构中顶配占比超过70%。Hype ...

Core Insights - The European passenger car market is experiencing a significant shift towards electric vehicles, with battery electric vehicle (BEV) sales surpassing gasoline vehicle sales for the first time in December 2025, achieving a market share of 22.6% [2][5]. Group 1: Market Trends - In December 2025, BEV sales increased by 51% year-on-year to 217,898 units, while gasoline vehicle sales decreased to 216,492 units, marking a pivotal change in market dynamics [2][5]. - The overall passenger car sales in the EU reached 963,319 units in December 2025, reflecting a 5.3% year-on-year growth, with electric vehicles (including hybrids) accounting for 67% of total sales, up from 57.8% in December 2024 [5][6]. Group 2: Electric Vehicle Growth - The sales of plug-in hybrid vehicles (PHEVs) also saw a substantial increase of 36.7%, totaling 102,914 units in December 2025 [5][6]. - For the entire year of 2025, the EU passenger car market recorded total sales of 10.82 million units, a slight increase of 1.8%, with BEV sales reaching 1.88 million units, up 30% year-on-year [6][7]. Group 3: Competitive Landscape - Chinese brands are rapidly penetrating the European market, with SAIC Motor and BYD showing significant growth. SAIC sold 305,700 units, up 24.9%, while BYD's sales skyrocketed by 269% to 188,000 units [8]. - In contrast, Tesla's sales declined by 26.9% to 239,000 units, highlighting the competitive pressures from emerging brands [8].

Core Viewpoint - The luxury and high-end car market in China is experiencing a significant downturn, with a decline of 28% expected in 2025, while the super-luxury segment (>1 million yuan) is projected to drop by approximately 23% [1] Group 1: Market Performance - In 2022, Porsche delivered 42,000 vehicles in China, reflecting a year-on-year decline of 26.3%, nearly halving from peak sales [1] - The downturn is attributed to macroeconomic fluctuations, evolving customer demands, and intensified competition from domestic brands [1] Group 2: Strategic Adjustments - Porsche's CEO emphasized that 2026 will be a pivotal year for recalibrating and regaining market share in China, focusing on quality over quantity without setting specific sales or profit targets [4] - The company plans to shorten R&D cycles and launch new products, including an all-electric Cayenne at the Beijing Auto Show and more models tailored for the Chinese market [4] Group 3: Compliance and Safety Standards - The Ministry of Industry and Information Technology has revised the review requirements for automotive enterprises, effective January 2027, raising standards for R&D capabilities and production consistency to mitigate safety and quality risks [6] - Porsche maintains three core principles during its electrification process: prioritizing safety, centering on driver experience, and ensuring the availability of a steering wheel regardless of the level of autonomous driving [6] Group 4: Retail Strategy - To address declining sales, Porsche will reduce its dealership count to 80, focusing on enhancing quality and efficiency rather than expanding service [7] - The revamped 4S stores will integrate new car sales, used car business, and after-sales services, optimizing the customer experience [7] Group 5: Used Car Market Expansion - Porsche aims to expand its used car business, capitalizing on the projected growth of China's used car market, which is expected to exceed 20 million transactions in 2025 [9] - The company has allocated significant space in its dealerships for displaying used cars, aligning with market trends [9]

近日，知行科技基于地平线双征程®6M（下称J6M）打造的自动驾驶软硬一体域控制器iDC700，成功斩获某头部自主品牌商用车的量产项目定点。 此次量产定点，不仅再次印证了知行科技在无人物流车域控制器领域的技术复用能力与体系化运营效率，更凸显出其通过软硬件平台化、组织敏捷化 构建的可持续交付核心优势。在无人物流车行业迈向规模化落地的关键阶段，知行科技正凭借扎实的技术积淀与高效的协作体系，为行业的成本优化与快 速商业化落地提供坚实支撑。 硬件设计升级：针对自动驾驶场景下双SOC、多传感器集成带来的系统复杂性，知行科技通过优化接口与架构设计，减少数据传输延迟，保障数据交 互的高效可靠；同时聚焦高功耗痛点，优化散热方案与布局设计，通过仿真模拟与实测验证，确保控制器在安全温度区间内稳定运行。此外，面向无人物 流小车领域激烈的成本竞争，知行科技通过高效技术复用，实现成本控制与性能提升的双重目标。 东吴证券研究报告预计，2026年无人物流车销量有望突破10万辆，渗透率达到3.4%；无人物流车全生命周期单件配送成本仅为0.08元，较传统微面配 送模式降低60%以上。显然，规模化运营与成本控制，将成为无人物流车行业实现盈利与可持 ...

2026年1月，中集安瑞科与Hexagon Purus携手组建的合资公司——中集合斯康氢能发展（河北）有限公司（以下简称"中集合斯康"）正式宣布，国内 首台20英尺IV型瓶氢气MEGC（管束集装箱）成功下线。这一突破性成果不仅填补了国产IV型瓶氢气MEGC的技术空白，更标志着我国高压氢气储运装备 国产化进程迈入全新阶段，凭借国际认证背书与全场景适配能力，为国产氢能装备参与全球竞争筑牢核心根基。 技术创新的背后，是股东双方优势的深度融合与协同发力。中集合斯康依托Hexagon Purus在复合材料高压储氢领域十余年的实战经验，以及全球700 余套MEGC系统的规模化应用验证，叠加中集安瑞科在氢能装备领域的全产业链布局与数十年能源装备制造积淀，实现了从核心部件研发到系统集成调试 的全流程技术把控，确保产品性能与可靠性达到国际领先水平，打破了海外企业在高端氢能储运装备领域的技术垄断。 双轨市场布局，开启氢能储运商业化新篇章 在市场战略层面，中集合斯康确立"先海外后国内"的双轨布局，以全球化视野推动氢能储运装备的商业化落地。初期阶段，公司将依托中集安瑞科在 东南亚的成熟业务基础，以及Hexagon Purus覆盖全球 ...