点 击 蓝 字 关 注 我 们 本文全文共 795 字，阅读全文约需 2 分钟 在国家以旧换新政策推动下，6月部分车企表现出色，推动零跑汽车、东风日产、广汽丰田等企业新能源 批发销量创出历史新高，而长城汽车、蔚来汽车、一汽奔腾、一汽红旗、长安马自达等车企也创出自身历史月 度次新高的优异表现。很多二线车企的表现极其优秀，推高了新能源车的总体销量。 根据乘联分会数据，全国乘用车市场2025年5月,新能源批发销量万辆以上厂商的销量之和，占总体新能源 乘用车当月销量的90%。根据7月初步汇总数据，这些5月新能源销量万辆以上厂商的6月销量为115万辆。目前 几乎绝大部分厂商销量基本都已经锁定，因此按照上月结构占比结合本月数据，测算6月全国新能源乘用车批 发销量为126万辆。 综上，根据月度初步乘联数据综合预估：6月全国新能源乘用车厂商批发销量126万辆，同比增长29%，环 比增长3%，今年1-6月累计批发647万辆，同比增长38%。 6月乘用车主力厂商新能源批发销量 *转载或引用本公众号的原创文章，请注明出处。 6月新能源乘用车市场预判 2025年6月共有20个工作日，与去年6月相比多1天，尤其是端午节在5月31日，有 ...

Domestic News - Henan Province offers a cash subsidy of 3,000 yuan for each "Hua series car" priced at 200,000 yuan and above, valid from July 1 to July 31, 2025, with a total budget of 6 million yuan for 2,000 vehicles [3] - Jinan initiates its first round of automobile consumption subsidies for the second half of 2025, allowing individuals and enterprises to claim up to 8,500 yuan for purchasing non-operational passenger vehicles, with a total funding of 12 million yuan [4] - GAC Group announces that its first model developed in collaboration with Huawei is expected to be launched in 2026, targeting the high-end market priced around 300,000 yuan [5] - Xiaomi Automotive reports that as of June 30, 2025, it has established 163 service outlets across 92 cities, with plans to add 18 more outlets in July [7] - BYD's first vehicle from its Brazilian factory has rolled off the production line, marking a significant step in its global strategy [8] - Zeekr announces a direct sales strategy in Malaysia, aiming to establish 10 new car sales points and 3 after-sales service centers by the end of the year [9] - Geely enters the Myanmar market with the launch of its EX5 model, marking the beginning of its operations in the region [10] - Zhijie R7 will push the ADS 3.3.2 version update this week, with plans for future upgrades to ADS 3.3 and 4.0 versions [11] International News - In the first four months of 2025, global electric vehicle battery installations reached 308.5 GWh, a 40.2% increase from 220.1 GWh in the same period last year, with CATL maintaining the top position [13] - Spain's new car registrations in June increased by 15.2% year-on-year, with a total of 119,125 vehicles sold, led by Renault, Toyota, and Volkswagen [14] - France's new car registrations in June fell by 6.7% year-on-year, totaling 169,504 vehicles, contributing to a 7.94% decline in the market since the beginning of the year [16] - Bentley unveils a new version of its iconic winged "B" logo, which will debut on its first electric vehicle, symbolizing the brand's entry into the digital age [17] Commercial Vehicles - Lingzhi Automotive launches the Golden Series Super Value Edition, enhancing its product lineup to meet diverse user needs in the new energy vehicle sector [19] - Shenzhen expands the restrictions on National III diesel trucks, implementing 24-hour limited access in certain areas and offering subsidies for early scrapping of these vehicles [21] - New regulations for truck modifications come into effect, placing full responsibility on manufacturers for the quality of modifications [22] - The Dadao pickup off-road version is showcased at the Baku Energy Week in Azerbaijan, enhancing brand recognition in the region [23]

Core Viewpoint - The latest Vehicle Inventory Alert Index (VIA) for June 2025 indicates a slight increase in inventory levels among Chinese auto dealers, reflecting a decline in market demand and increased pressure on the automotive circulation industry [2][4]. Inventory Index Summary - The inventory alert index for June 2025 stands at 56.6%, a year-on-year decrease of 5.7 percentage points but a month-on-month increase of 3.9 percentage points, indicating a decline in industry prosperity [2]. - Only 27.5% of 4S dealerships met or exceeded their sales targets in the first half of the year, with 72.5% falling short, highlighting significant inventory accumulation risks [4]. - The inventory sub-index has risen significantly, while market demand, average daily sales, and operational conditions sub-indices have decreased, indicating heightened market pressure [4]. Regional Index Summary - The national total index is 56.6%, with regional indices as follows: North Region at 60.2%, East Region at 54.9%, West Region at 62.7%, and South Region at 49.6% [6]. Brand Type Index Summary - In June, the indices for luxury and imported brands, joint ventures, and domestic brands have all increased month-on-month, suggesting some resilience in these segments [8]. Market Outlook - Despite new vehicle launches and regional auto shows potentially boosting sales, market demand is expected to decline in July due to demand exhaustion, adverse weather conditions, and the traditional off-peak consumption season [8]. - The China Automobile Dealers Association recommends that dealers rationally estimate actual market demand and enhance promotion of vehicle trade-in and scrapping policies to boost consumer confidence [8].

Core Viewpoint - The article discusses the decline in profits of large-scale industrial enterprises in China during the first five months of 2025, highlighting the performance of various sectors and the overall economic indicators. Group 1: Profit Trends - In the first five months of 2025, the total profit of large-scale industrial enterprises reached 27,204.3 billion yuan, a year-on-year decrease of 1.1% [2][4] - State-owned enterprises reported a profit of 8,709.5 billion yuan, down 7.4% year-on-year, while private enterprises saw a profit increase of 3.4% to 7,592.5 billion yuan [4] - The mining industry experienced a significant profit decline of 29.0%, while the manufacturing sector's profits grew by 5.4% [5] Group 2: Revenue and Costs - Large-scale industrial enterprises achieved operating revenue of 54.76 trillion yuan, a year-on-year increase of 2.7%, with operating costs rising by 3.0% to 46.88 trillion yuan [6] - The operating profit margin was 4.97%, reflecting a decrease of 0.19 percentage points compared to the previous year [6] Group 3: Asset and Liability Overview - As of the end of May, total assets of large-scale industrial enterprises amounted to 182.36 trillion yuan, a 5.1% increase year-on-year, while total liabilities rose by 5.3% to 105.26 trillion yuan [7] - The asset-liability ratio stood at 57.7%, up 0.1 percentage points from the previous year [7] Group 4: Inventory and Receivables - Accounts receivable reached 26.40 trillion yuan, increasing by 9.0% year-on-year, while finished goods inventory was 6.65 trillion yuan, up 3.5% [8] Group 5: Purchasing Managers' Index (PMI) - In June, the manufacturing PMI was 49.7%, indicating a slight improvement in manufacturing activity [12] - The production index was 51.0%, and the new orders index was 50.2%, both above the critical point, suggesting increased production and demand [14][15] - The non-manufacturing business activity index was 50.5%, indicating continued expansion in the non-manufacturing sector [19]

Core Viewpoint - The article highlights the strong growth of the passenger car market in China, driven by favorable government policies and regional disparities, with northern regions showing significant gains compared to southern regions [1][6][11]. Group 1: Passenger Car Market Trends - In 2025, the national retail sales of passenger cars are expected to grow by 9% year-on-year, with a strong performance observed from February to May, maintaining a growth rate of around 13% [4][5]. - In May 2025, retail sales reached 1.932 million units, a year-on-year increase of 13.3% and a month-on-month increase of 10.1%, with cumulative sales for the year at 8.811 million units, up 9.1% year-on-year [5][6]. Group 2: Regional Market Characteristics - The northern car market is showing a clear strength, with market share increasing by 2.8 percentage points year-on-year in May 2025, and by 2.1 percentage points compared to 2019 [7][8]. - The northeastern and northwestern regions are experiencing significant growth, while the southern regions, particularly the eastern and central areas, are lagging behind [6][8]. Group 3: Policy Impact on Market Structure - Government subsidies are favoring the development of low-end and economic vehicles, particularly benefiting A00 and A0 class electric vehicles in northern regions [1][9]. - The article emphasizes the importance of policy fairness in promoting the adoption of small and micro electric vehicles, which is crucial for their widespread acceptance [1][9]. Group 4: New Energy Vehicle Market Analysis - The new energy vehicle market is showing strong performance, particularly in pure electric and plug-in hybrid vehicles, with traditional fuel vehicles still holding a significant share in the northern and midwestern regions [14][15]. - In May 2025, the proportion of new energy vehicles in regions like Hainan and Tianjin reached around 60%, indicating robust growth [14][15].

Domestic News - The "Hengqin Guangdong-Macao Deep Cooperation Zone Industrial Development Plan (2025-2029)" has been issued, focusing on building an artificial intelligence collaborative innovation ecosystem and promoting the testing and application of intelligent connected vehicles [6] - Anhui Province achieved a historic breakthrough in new energy vehicle production, with a total of 613,300 new energy vehicles produced from January to May 2025, ranking first in the country [7] - SAIC and OPPO launched a smart car interconnection strategy, integrating their ecosystems into the new MG4 model, which features a maximum power of 120 kW and a top speed of 160 km/h [8] - BAIC Blue Valley is collaborating with partners like Pony.ai to develop Robotaxi models, focusing on differentiated competitive advantages [9] - The Tengshi brand announced a significant OTA upgrade for 25 Tengshi D9 models, enhancing features like cloud suspension and AR door opening [10] - Tesla launched its first batch of V4 supercharging stations in China, which can provide up to 500 kW of charging support and are open to non-Tesla electric vehicles [11] - CATL's battery production line has commenced at the Wenjie Super Factory, marking a significant step in the collaboration within the Chengdu-Chongqing economic circle [12] - Pure Lithium New Energy released its first-generation all-solid-state battery solution, overcoming key challenges for commercialization [13] International News - Eleven German automotive companies, including BMW and Mercedes-Benz, signed a memorandum of understanding to collaborate on open-source software development, aiming to enhance the speed and quality of vehicle software [15] - Honda announced a delay in the production of its hydrogen fuel cell factory in Japan, reducing initial capacity and exiting subsidy programs due to changes in the global hydrogen market [16] - Tata Group's subsidiary Agratas has begun construction of a battery factory in Somerset, England, expected to create 4,000 jobs and be completed by 2027 [17] - BP Pulse opened a new electric vehicle charging center near San Francisco, featuring 12 ultra-fast charging stations and designed to meet the needs of ride-hailing drivers [18] Commercial Vehicles - Volvo announced the global delivery of its 5,000th electric heavy truck, achieving over 100 million miles driven since 2019, with a strong repurchase intention from customers [19] - The new Farizon Star Enjoy V7E was launched at a price of 79,900 yuan, expanding the product lineup for urban and intercity transport [20] - BYD's electric heavy truck began trial operations in Shanghai, integrating smart energy management solutions for low-carbon logistics [21] - BAIC Foton successfully entered the Libyan market with the delivery of 20 buses, marking a significant breakthrough in North Africa [22][23]

Core Viewpoint - The article discusses the recent trends in the Chinese passenger car market's intelligence index, highlighting a recovery in the index and its components, driven by new model launches and increased sales of high-intelligence vehicles [3][14]. Summary by Sections Intelligent Vehicle Index - The passenger car intelligence index for May 2025 is reported at 33.8, marking a month-on-month increase of 1.9 points, indicating a return to an upward trend [5][14]. - The index consists of three sub-indices: Intelligent Cockpit Index (36.6), Intelligent Driving Index (36.5), and External Intelligence Index (17.8) [8][14]. Sub-Indices Performance - The Intelligent Cockpit Index increased by 2.2 points from the previous month, showing positive growth [10]. - The Intelligent Driving Index rose by 2.0 points, indicating a return to an upward trajectory [11]. - The External Intelligence Index saw a modest increase of 0.8 points, reflecting a gentle upward trend [13]. Market Dynamics - In May 2025, the retail sales of passenger cars reached 1.938 million units, a year-on-year increase of 13.7% and a month-on-month increase of 10.0% [14]. - The retail sales of new energy vehicles amounted to 1.027 million units, with a year-on-year growth of 28.9% and a month-on-month increase of 12.7% [14]. Future Outlook - The article anticipates that the passenger car market will continue to show a warming trend in June, with the intelligence index expected to maintain a steady upward momentum [15]. - The intelligence index will be adjusted based on the characteristics of each sub-index to better reflect market dynamics [15]. Methodology and Definitions - The intelligence index is calculated using a weighted formula that incorporates the performance of the Intelligent Cockpit, Intelligent Driving, and External Intelligence indices [18]. - Definitions for the indices include criteria for evaluating intelligent cockpit features, intelligent driving capabilities, and external smart interactions [19][20][23]. Weighting Factors - The Intelligent Cockpit has a weight of 47.5%, reflecting its immediate impact on user experience [20]. - The Intelligent Driving is weighted at 37.5%, indicating its long-term transformative potential for the automotive industry [21]. - The External Intelligence is assigned a weight of 15.0%, representing its emerging role in vehicle technology [23].

Policy and Regulations - The Ministry of Commerce has announced the organization of the 2025 New Energy Vehicle Consumption Season, encouraging local participation and infrastructure development for electric vehicles [6][7][8] - Six departments proposed to reduce penalties for early loan settlements during vehicle trade-ins, aiming to stimulate car sales [9][10] - The Ministry of Industry and Information Technology has initiated a safety inspection for new energy vehicles, focusing on product quality and safety systems [11][12] Market Insights - In Mexico, from January to May 2025, pickup truck sales reached 97,000 units, marking a year-on-year increase of 4.9% [15][16] - The demand for Mexican pickups is primarily for gasoline, two-wheel drive, double cab, manual transmission, and five-seat configurations [19][21] - Japanese and American brands dominate the Mexican pickup market, with significant growth from Chinese brands [23][24] Company Monitoring - Great Wall Motors launched the G1050 hybrid flagship truck, featuring advanced hybrid technology and a price range of 536,600 to 616,600 CNY [28][30] - Changan's V919 model was officially launched, with a price range of 89,900 to 225,900 CNY, targeting both freight and passenger markets [31][32] - Remote New Energy introduced the X7E+X3E pure electric mother vehicle, emphasizing lightweight design and efficient energy use [35][36]

Core Viewpoint - The article discusses the announcement of the 76th batch of qualified road transport vehicle models by the Ministry of Transport, highlighting the importance of establishing industry standards for automotive control chips to enhance safety, reliability, and performance in the automotive sector [5][8][10]. Group 1: Announcement of Qualified Vehicle Models - On June 23, the Ministry of Transport published the announcement regarding the 76th batch of qualified road transport vehicle models, which includes a total of 2203 models [3][5]. - The breakdown of the qualified models includes 108 passenger vehicles, 41 passenger cars, 1359 cargo vehicles, 299 tractors, and 396 trailers [5]. - Additionally, 3 models have been revoked from the list of qualified vehicles [5]. Group 2: Industry Standards for Automotive Control Chips - The National Automotive Standardization Technical Committee is seeking public opinions on two draft industry standards related to automotive control chips, which are crucial for ensuring performance and safety in vehicles [6][8]. - The proposed standards cover general technical requirements and testing methods for automotive control chips, addressing functionality, performance, electrical characteristics, reliability, and safety [7][9]. - The establishment of these standards is deemed essential to mitigate risks associated with varying chip performance across different manufacturers, which can affect driving experience and safety [8][10]. Group 3: Future Developments in Automotive Chip Standards - With the acceleration of electrification, intelligence, and connectivity in the automotive industry, there is an increasing demand for high-performance control chips in chassis systems [10]. - The Ministry of Industry and Information Technology has initiated the development of a national automotive chip standard system to guide and regulate the application of various automotive chips [10]. - The implementation of these standards is expected to enhance the overall quality of control chips, thereby supporting the development of the automotive industry in China [10].

Domestic News - The Ministry of Industry and Information Technology is accelerating the improvement of the standard system in the fields of new energy vehicles and other green low-carbon industries, focusing on the development of standards for various technologies such as industrial microgrids and high-safety energy storage batteries [3] - Shanghai is promoting a pilot program for the import of used key components for automotive research and testing, aiming to enhance the independent R&D capabilities of local automotive companies and improve their international competitiveness [4] - Hongmeng Zhixing has established 32 new user centers in April and May, with a target of over 350 centers by 2025, enhancing its offline service network [5] - Geely has obtained the "3A" capability certification for software quality systems, becoming the first company globally to achieve this, which signifies a significant milestone in the maturity of China's intelligent and electric vehicle standards [6] - BYD has launched its flagship luxury MPV, the M9, in Mexico, marking a significant step in its expansion into the high-end new energy market [7] - Tesla has opened over 2,100 supercharging stations in China, with a total of over 11,600 supercharging piles, enhancing its charging network across various locations [8] - Pony.ai has signed a strategic cooperation framework agreement with Lingnan Holdings to explore applications of autonomous driving in tourism [9] - CATL has commenced construction of a battery joint venture in Indonesia, with an expected total battery capacity of 15 GWh, capable of powering 250,000 to 300,000 vehicles [10] International News - Morocco plans to increase electric vehicle production by 53% by the end of 2025, reaching 107,000 units, as part of its strategy to diversify export markets [11] - Volkswagen Group is investing $1 billion in Rivian as part of a larger commitment of up to $5.8 billion, aiming to acquire advanced electric architecture technology [12][13] - VinFast has officially launched its second factory in Vietnam with an initial annual capacity of 200,000 vehicles, despite facing challenges in attracting foreign buyers [14] - The UK automotive industry reported a significant decline in production, with May's output dropping 32.8% year-on-year, marking the lowest level in over 70 years [15] Commercial Vehicles - CATL's advanced battery technology has empowered the launch of the Qingling Lingkun pure electric light truck in Shenzhen, catering to the growing demand for electric commercial vehicles [16] - The Shandong Province has established a key laboratory for safety and energy efficiency in new energy commercial vehicles, focusing on technological research and industry upgrades [18] - Wuling's Yangguang model has officially adopted CATL batteries, enhancing product reliability [19] - Beiqi Foton has launched the new Truck Mate in South Africa, targeting the growing demand for high-quality commercial vehicles in the region [20][21]