Core Viewpoint - The article discusses the impending end of the full exemption from purchase tax for new energy vehicles (NEVs) in China, leading to a competitive order-seizing battle among car manufacturers as they introduce tax subsidy plans to attract consumers before the policy changes take effect [3][4]. Group 1: Policy Changes and Impacts - Starting January 1, 2026, the purchase tax for NEVs will be halved, with a maximum tax reduction of 15,000 yuan per vehicle [3]. - From January 1, 2024, to December 31, 2025, NEVs will continue to be exempt from purchase tax, with a maximum exemption of 30,000 yuan per vehicle [3][4]. - The adjustment in tax policy has intensified consumer urgency to purchase vehicles, influencing their choice of models based on delivery timelines [4]. Group 2: Manufacturer Responses - 17 major automotive brands, including Li Auto, NIO, and BYD, have introduced purchase tax subsidy plans to cover the tax difference for consumers whose vehicles are delivered after the policy change [3][4]. - The subsidy methods include tax difference vouchers, cash reductions on final payments, and direct cash subsidies, with a maximum subsidy of 15,000 yuan [4]. - The competition among manufacturers is expected to increase as they strive to maintain market share amid changing tax incentives [5]. Group 3: Market Trends and Performance - In October, NEV production and sales reached 1.772 million and 1.715 million units, respectively, with year-on-year growth exceeding 20% and a market penetration rate surpassing 50% [4][5]. - Cumulative NEV production and sales for the first ten months of the year exceeded 13 million units, reflecting a year-on-year growth of approximately 33% [4]. - The market is witnessing a shift as consumers, influenced by the availability of popular models, are increasingly opting for less popular models, contributing to sustained sales growth [4].

Core Viewpoint - The commercial vehicle market in China has shown a fluctuating trend in 2025, with a notable increase in sales during the latter part of the year, achieving a cumulative sales volume of over 3 million units by September, reflecting a net increase of over 220,000 units compared to the previous year [1]. Sales Performance - In October 2025, the commercial vehicle market sold 360,700 units, representing a month-on-month decrease of 2% but a year-on-year increase of 21%. The growth rate compared to the previous month narrowed by 9 percentage points [4][5]. - The cumulative sales from January to October 2025 reached 3,478,700 units, marking a year-on-year growth of 9%, with an increase of nearly 290,000 units compared to the same period last year [9][17]. Market Share and Rankings - In October 2025, the top ten companies in the commercial vehicle market accounted for a combined market share of 76.19%, with the top five companies exceeding 50% [15]. - Foton led the sales with 56,100 units, followed by China National Heavy Duty Truck with 38,500 units, and Changan with 33,300 units [11][13]. Competitive Landscape - The competitive landscape remains intense, with small differences in market share among neighboring companies. For instance, the market share difference between Jianghuai and Jiangling was only 0.06% [25]. - The rankings of the top ten companies remained stable, with Jianghuai moving up three positions to seventh place [16]. Cumulative Sales by Company - Foton's cumulative sales exceeded 500,000 units, reaching 530,800 units, while China National Heavy Duty Truck, Dongfeng, and Changan all surpassed 300,000 units [19][23]. - The growth rates of major companies varied, with China National Heavy Duty Truck, Shaanxi Automobile, and SAIC Maxus showing significant increases of 25%, 20%, and 28% respectively [19].

近日，长安汽车在泰国曼谷举行发布会，宣布正式推进"立足泰国，服务泰国"战略，发布全方位业务发 展蓝图，并推出3款全新车型DEEPAL NEW S07、DEEPAL HUNTER K50 REEV Max AWD 和AVATR 11 Royal Edition。与此同时，长安汽车还宣布，将于今年12月开始从泰国向欧洲出口汽车，首批计划出口 超过1000辆DEEPAL S05紧凑型SUV。 定位区域电动汽车制造中心 充分利用泰国产能及优惠 无独有偶，就在今年8月，比亚迪汽车（泰国）有限公司宣布，其泰国罗勇府工厂生产的首批电动汽车 成功出口欧洲市场，数量超过900辆。这批车辆发往英国、德国、比利时等多个欧洲国家，标志着比亚 迪在全球布局和本土化生产方面迈出关键一步。 为何这些中国车企纷纷选择从泰国出口汽车至欧洲？做出这一决定究竟是出于哪些因素考量？泰国制造 的中国汽车出口欧洲，会成为一种潮流吗？ 从泰国出口欧洲可规避欧盟反补贴税 众所周知，自去年10月底起，在原有10％税率的基础上，欧盟对在华生产并出口至欧盟市场的纯电动汽 车加征最高35.3％的反补贴税，为期5年。其中，比亚迪、吉利和上汽集团，加征的税率分别是17 ...

ZAWYA新闻网11月10日消息，中国长安汽车与阿联酋科技公司Yango Group签署战略合作协议， Yango Motors将成为长安官方分销商，首站为科特迪瓦，并拓展非洲其他市场。双方将为网约车市场提 供高效、低碳车型，推动绿色出行。Yango Ride业务遍及非洲、中东、南亚及拉美，累计出行超12亿 次，合作将助力区域可持续交通发展。 （原标题：长安汽车携手阿联酋Yango Group拓展非洲市场） ...

Core Viewpoint - The Central Enterprise ETF (159959) opened with a slight increase of 0.44%, priced at 1.602 yuan, reflecting the performance of its underlying assets and market conditions [1] Group 1: ETF Performance - The Central Enterprise ETF (159959) has a benchmark performance index of the CSI Central Enterprise Structural Adjustment Index [1] - Since its establishment on October 22, 2018, the fund has achieved a return of 59.39% [1] - The fund's return over the past month has been -0.19% [1] Group 2: Major Holdings - Key stocks in the ETF include: - 澜起科技 (Lianqi Technology) down 0.55% - 中芯国际 (SMIC) down 0.53% - 海康威视 (Hikvision) down 0.10% - 国电南瑞 (Guodian NARI) down 0.29% - 招商银行 (China Merchants Bank) up 0.09% - 宝钢股份 (Baosteel) up 0.26% - 中国神华 (China Shenhua) up 0.21% - 长安汽车 (Changan Automobile) up 0.16% - 中国电信 (China Telecom) unchanged - 中国建筑 (China State Construction) unchanged [1]

Group 1 - The China Securities New Energy Vehicle Industry Index (930997) has surged by 5.96% as of November 13, 2025, with significant gains in constituent stocks such as Xinzhou Bang (300037) up 17.19%, Wukuang New Energy (688779) up 16.90%, and Tianhua New Energy (300390) up 12.50% [1] - The New Energy Vehicle ETF (515700) increased by 5.89%, reaching a latest price of 2.61 yuan, benefiting from the recovery in lithium battery demand and advancements in solid-state batteries [1] - The New Energy Vehicle ETF closely tracks the China Securities New Energy Vehicle Industry Index, reflecting the overall performance of leading listed companies in the new energy vehicle sector [1] Group 2 - As of October 31, 2025, the top ten weighted stocks in the China Securities New Energy Vehicle Industry Index include CATL (300750), Huichuan Technology (300124), and BYD (002594), collectively accounting for 53.56% of the index [2] - The weightings of the top stocks are as follows: CATL at 10.10% with a rise of 7.72%, Huichuan Technology at 8.28% with a rise of 0.90%, and BYD at 5.91% with a rise of 2.26% [4] - Other notable stocks include EVE Energy (300014) at 5.88% with a rise of 9.59%, and Ganfeng Lithium (002460) at 3.67% with a rise of 6.59% [4]

Core Insights - The China Securities New Energy Vehicle Industry Index (930997) has seen a strong increase of 4.49% as of November 13, 2025, with significant gains in constituent stocks such as Xinzhou Bang (300037) up 14.43%, Wukuang New Energy (688779) up 14.23%, and Xingyuan Material (300568) up 12.25% [1] Group 1 - The New Energy Vehicle ETF (515700) rose by 4.47%, with the latest price at 2.57 yuan, and has accumulated a 0.53% increase over the past week as of November 12, 2025 [1] - The New Energy Vehicle ETF closely tracks the China Securities New Energy Vehicle Industry Index, which includes 50 listed companies involved in various sectors of the new energy vehicle industry [1] Group 2 - As of October 31, 2025, the top ten weighted stocks in the China Securities New Energy Vehicle Industry Index are CATL (300750), Huichuan Technology (300124), Sanhua Intelligent Control (002050), BYD (002594), Yiwei Lithium Energy (300014), Huayou Cobalt (603799), Ganfeng Lithium (002460), Xian Dao Intelligent (300450), Changan Automobile (000625), and Tianqi Lithium (002466), collectively accounting for 53.56% of the index [2] - The weightings of the top stocks are as follows: CATL at 10.10%, Huichuan Technology at 8.28%, BYD at 5.91%, Yiwei Lithium Energy at 5.88%, Sanhua Intelligent Control at 5.77%, Huayou Cobalt at 4.74%, Ganfeng Lithium at 3.67%, Xian Dao Intelligent at 3.60%, Changan Automobile at 3.22%, and Tianqi Lithium at 2.72% [3]

Core Insights - In October 2025, 20 major A and H-share listed automotive manufacturers reported a total vehicle sales of 2.3166 million units, representing a year-on-year increase of 8.82% and a month-on-month increase of 5.97% [1][2] - The total sales of new energy vehicles (NEVs) reached approximately 1.3078 million units, marking a year-on-year increase of 15.63% and a month-on-month increase of 9.68%, with a penetration rate of about 57.48% [1][3] Group 1: Overall Vehicle Sales - The top-selling company in October 2025 was SAIC Motor, with sales of 454,000 units, reflecting a year-on-year growth of 12.96% [2] - Other notable manufacturers included BYD, Geely, and Changan, which followed closely in sales figures [2] - Companies like Beiqi Blue Valley and Qianli Technology saw their sales growth exceed 100% year-on-year, while NIO and XPeng also experienced significant growth [2] Group 2: New Energy Vehicle Sales - The leading companies in NEV sales for October 2025 were BYD, SAIC Motor, and Geely, with sales of 441,700 units, 206,700 units, and 177,900 units respectively [3] - Beiqi Blue Valley's NEV sales growth exceeded 100% year-on-year, while NIO and XPeng also saw substantial increases in their sales growth rates compared to September [3] - BYD's total sales for the year up to October reached 3.7019 million units, showing a year-on-year increase of 13.88% [3]

Core Insights - In October 2025, 20 A and H-share listed automotive manufacturers reported a total vehicle sales of 2.3166 million units, representing a year-on-year increase of 8.82% [1][4] - Among these, 16 companies disclosed their new energy vehicle (NEV) sales, totaling approximately 1.3078 million units, which is a year-on-year increase of 15.63% and a penetration rate of about 57.48% [1][8] Group 1: Overall Vehicle Sales - The total vehicle sales for October 2025 reached 2.3166 million units, marking a month-on-month growth of 5.97% [1][4] - SAIC Motor led the sales with 454,000 units, followed by BYD with 441,706 units and Geely with 307,133 units [5][6] - Notable growth was observed in companies like BAIC Blue Valley and NIO, with sales growth exceeding 100% year-on-year, while companies like Ideal Auto and NIO experienced a decline of over 30% [4][8] Group 2: New Energy Vehicle Sales - The total NEV sales for October 2025 were approximately 1.3078 million units, with a month-on-month increase of 9.68% [8][11] - Leading NEV manufacturers included BYD, SAIC Motor, and Geely, with sales of 441,706 units, 206,692 units, and 177,882 units respectively [11][15] - Companies such as BAIC Blue Valley and NIO saw their NEV sales growth exceed 50%, while Ideal Auto and BYD reported a year-on-year decline in sales [11][15]

新华财经北京11月13日电近期，汽车制造厂商陆续披露10月销售数据。新华财经和面包财经研究员以A、H股上市的主要汽车厂商披露的月度销售数据公 告，分别统计其整车、新能源汽车的销量。 2025年10月，20家A、H股上市车企合计实现整车销量231.66万辆，同比上升8.82%，环比增长5.97%。 图1：沪港深上市汽车公司整车销量 数据显示，10月，上汽集团以月销45.4万辆位居第一，比亚迪、吉利汽车、长安汽车紧随其后。同比增速方面，北汽蓝谷、千里科技10月整车销量同比增速 超过100%，蔚来、小鹏汽车增速超过70%；曙光股份、理想汽车销量同比下降超过30%。 根据公告数据整理，A、H股上市公司中有20家汽车制造厂商披露了10月份的月度销售数据。2025年10月，20家公司合计销售整车231.66万辆，同比上升 8.82%。相比于9月，北汽蓝谷、蔚来、江淮汽车等企业10月销量增速明显加快；千里科技、金龙汽车、宇通客车等企业的10月增速则有所放缓。 此外，有16家公司披露了新能源汽车（包括乘用车、商用车）的销量数据，10月合计销售新能源汽车约130.78万辆，同比上升15.63%，当月新能源汽车渗透 率约达57. ...