今非昔比，用来形容当下欧洲对中国的态度，再贴切不过。曾经，欧洲各国眼巴巴地盼着中国"买买买"，如今，却开始绞尽脑汁地防着"中国制造"。这戏剧 性的转变，并非一蹴而就，实乃多年累积、错综复杂的地缘经济变局。 回溯过往，彼时的欧洲，在他们眼中，中国仿佛一块散发着诱人香气的巨大蛋糕，人人都想分一杯羹。德国祭出精密机床和豪华汽车，法国力推空中客车， 意大利则将琳琅满目的奢侈品摆上货架，静候中国消费者的光临。那段日子，欧洲企业赚得盆满钵满，尤其以德国汽车工业为甚。大众、奔驰等品牌在中国 市场的销量，一度占据其全球业绩的半壁江山。中欧贸易额如同火箭般蹿升，以德国为例，2010年至2020年间，对华出口额几乎翻了一番。当时，欧洲专注 于技术输出和高端产品制造，而中国则扮演着消费引擎的角色。甚至有瑞士媒体将中国誉为欧洲经济的"发动机"。 然而，风水轮流转，2022年前后，局势悄然生变。中国不再仅仅是挥金如土的"金主"，而是华丽转身，成为国际市场上举足轻重的"卖货郎"。中国产业升级 和国产替代的速度令人惊叹，尤其在新能源汽车和动力电池等新兴领域，中国品牌以摧枯拉朽之势席卷全球市场。德国《世界报》等欧洲媒体开始拉响警 报，将中国 ...

Core Insights - The electric vehicle (EV) industry in China is transitioning from reliance on government policies to market-driven growth, marking the end of the "policy infusion" era and the beginning of "self-sustaining" operations [2][4][17] Group 1: Market Dynamics - In 2025, the penetration rate of new energy vehicles (NEVs) in China surpassed 50%, reaching 59.5% by November, indicating a significant shift towards electric vehicles [5][25] - The charging infrastructure has improved significantly, with a total of 19.32 million charging points by the end of November 2025, a 52% year-on-year increase, and over 5,000 battery swap stations established [5][25] - The competition landscape has changed, with Tesla's retail sales in China declining by 4.8% to 625,698 units, while domestic brands like BYD, Geely, and Changan have seen substantial growth [5][27] Group 2: Sales Performance - BYD led the NEV sales in 2025 with 3.48 million units sold, despite a 6.3% year-on-year decline, holding a market share of 27.2% [6][27] - Geely and Changan reported significant sales increases of 81.3% and 26.8%, respectively, with Geely selling 1.56 million units and Changan 789,141 units [6][27] - New entrants like Leap Motor and Xiaomi have emerged as strong competitors, with Leap Motor's sales increasing by 86.3% to 529,503 units and Xiaomi entering the rankings with 411,837 units, a 200.9% increase [6][27] Group 3: Technological Advancements - The focus on "intelligent driving" has intensified, with companies like BYD, NIO, and Xpeng launching advanced driver-assistance systems and AI-driven models [11][32] - Despite advancements, there remains a gap between technology and user experience, with consumers expressing concerns over the reliability of intelligent driving systems [11][35] - The industry is witnessing a shift towards more comprehensive AI models that aim to enhance decision-making capabilities in complex driving scenarios [12][33] Group 4: Future Outlook - Starting in 2026, the EV industry will face new challenges as the government reduces subsidies, shifting the focus to market-driven strategies and user experience [15][38] - The competitive landscape is expected to evolve with a mix of pure electric, hybrid, and range-extended vehicles, as traditional automakers and new entrants adapt to changing consumer preferences [19][40] - Companies are increasingly looking to expand internationally, marking a new phase of competition that emphasizes technology depth, cost efficiency, and brand loyalty [20][41]

政策支持与头部企业布局，正对全固态电池产业发展形成"双重催化"。 利元亨相关负责人分析称，头部企业提出的"2027年小范围应用，2030年前后规模化" 的计划，是一个 积极且务实的行业共识，给材料、工艺、设备的成熟留出了必要的迭代周期。 1月14日，工业和信息化部提出加快突破全固态电池等技术。此外，上海证券报记者从产业人士处获 悉，继广汽集团宣布全固态电池中试线已顺利建成并投产之后，比亚迪正在进行GWh级别的全固态电 池设备招标。 有业内人士认为，全固态电池企业陆续开展中试线建设，意味着全固态电池产业已从单纯的技术研发阶 段，迈向全固态电池工程化验证的关键期。 全固态电池产业化提速 政策指引持续强化、产业链企业密集披露技术进展、全固态电池设备中试线招标逐步铺开，全固态电池 行业正迎来产业化的突破期。 工业和信息化部官网1月14日发布消息显示，节能与新能源汽车产业发展部际联席会议2026年度工作会 议提到，提升产业链供应链自主可控能力，实施新一轮重点产业链高质量发展行动，加强标志性产品、 基础材料、工具软件等攻关布局，加快突破全固态电池、高级别自动驾驶等技术。 在政策与市场的双重催化下，产业链各环节企业动作频频 ...

这一年，汽车出口突破700万辆，核心市场份额不断提升，海外市场成新增长极； 这一年，"反内卷"从共识变成行动，主管部门规范产业竞争秩序，主流企业开始从"卷价格"转向"优价 值"。 新能源汽车跃升市场主流 岁序常易，新元肇启。回眸2025年，中国汽车业在价格战博弈、产业链重构和国际贸易保护压力中，顶 压前行、向新攀高，交出一份超预期答卷。 中国汽车工业协会发布的数据显示，2025年，我国汽车产销分别完成3453.1万辆和3440万辆，同比分别 增长10.4%和9.4%，再创历史新高，不仅展现出超强韧性与活力，成为"十四五"收官之年拉动我国经济 增长、推动经济高质量发展的重要引擎，更成为引领全球汽车产业转型升级、稳定世界经济增长的关键 力量。 这一年，新能源汽车国内新车销量占比跨越50%临界点，从曾经的边缘产品跃升为市场主流； 这一年，是"全民智驾"元年，车企竞相奔赴"智驾平权"新赛道，自动驾驶汽车产业从技术验证稳步迈向 量产应用新阶段； 50.8%！这是2025年新能源汽车国内新车销量占比。 技术创新。行业企业以科技创新引领新质生产力发展，不断突破技术难题、提升产品性能，获得消费者 认可。例如，纯电动乘用车平均 ...

Core Insights - In 2025, China's automotive industry demonstrated resilience and growth, achieving record production and sales figures, with production reaching 34.53 million vehicles and sales at 34.40 million, marking year-on-year increases of 10.4% and 9.4% respectively [1] - The year marked a significant shift in the market, with new energy vehicles (NEVs) accounting for over 50% of domestic new car sales, indicating a transition from niche to mainstream [2] - The automotive export sector also thrived, with exports surpassing 7 million vehicles, driven by technological innovation and a robust supply chain [10] New Energy Vehicles - NEVs achieved a domestic sales share of 50.8%, with production and sales figures of 16.63 million and 16.49 million respectively, reflecting year-on-year growth of 29% and 28.2% [2] - The competitive landscape shifted dramatically, with domestic brands capturing nearly 70% of the passenger car market, reversing the dominance of joint ventures [2][3] Technological Advancements - The automotive industry is undergoing a transformation driven by electrification and intelligent technology, with significant advancements in product performance and consumer acceptance [4][5] - Innovations in battery technology have led to a 30% reduction in battery costs and a 40% increase in lifespan, enhancing the competitiveness of Chinese automotive products [5] Intelligent Driving - The approval of L3-level conditional autonomous driving vehicles marks a pivotal moment in China's autonomous driving sector, transitioning from technical validation to mass production [6] - The penetration rate of vehicles equipped with Level 2 autonomous driving features reached 64%, with a year-on-year growth of 21.2% in the first three quarters of 2025 [8] Export Growth and Localization - China's automotive exports reached 7.1 million units in 2025, with NEV exports doubling to 2.615 million units, showcasing the global competitiveness of Chinese automotive products [10] - Localization strategies are being implemented, with over 20 Chinese automotive brands establishing manufacturing facilities in Thailand and other regions to enhance local production capabilities [11] Market Competition Dynamics - The introduction of compliance guidelines aims to curb price wars and establish a more orderly competitive environment, shifting the focus from price competition to quality and service [12] - The automotive industry is transitioning from a focus on volume to an emphasis on quality, with a profit margin of only 4.4% in the first eleven months of 2025, below the manufacturing industry average [12][13]

岁序常易，新元肇启。回眸2025年，中国汽车业在价格战博弈、产业链重构和国际贸易保护压力中，顶 压前行、向新攀高，交出一份超预期答卷。 中国汽车工业协会发布的数据显示，2025年，我国汽车产销分别完成3453.1万辆和3440万辆，同比分别 增长10.4%和9.4%，再创历史新高，不仅展现出超强韧性与活力，成为"十四五"收官之年拉动我国经济 增长、推动经济高质量发展的重要引擎，更成为引领全球汽车产业转型升级、稳定世界经济增长的关键 力量。 这一年，新能源汽车国内新车销量占比跨越50%临界点，从曾经的边缘产品跃升为市场主流； 这一年，是"全民智驾"元年，车企竞相奔赴"智驾平权"新赛道，自动驾驶汽车产业从技术验证稳步迈向 量产应用新阶段； 这一年，汽车出口突破700万辆，核心市场份额不断提升，海外市场成新增长极； 这一年，"反内卷"从共识变成行动，主管部门规范产业竞争秩序，主流企业开始从"卷价格"转向"优价 值"。 技术创新。行业企业以科技创新引领新质生产力发展，不断突破技术难题、提升产品性能，获得消费者 认可。例如，纯电动乘用车平均续驶里程达到500公里左右，动力电池单体成本降低30%、寿命提高 40%、充电速 ...

一场始于两年多以前的贸易争端，在本周取得关键突破。 欧盟委员会在2023年下半年对中国产电动汽车发起反补贴调查，如今双方达成共识——中国车企可以通 过提交一份"价格承诺"申请，来替代之前被征收的高额反补贴税。 图片来源：视觉中国 1月12日，中国商务部通报中欧电动汽车案磋商进展。经多轮磋商，双方一致认为，有必要向对欧盟出 口纯电动汽车的中国出口商，提供关于价格承诺的通用指导。 欧方将发布《关于提交价格承诺申请的指导文件》，并在文件中确认，欧方将秉持非歧视原则，根据世 贸组织规则有关规定，对每一项价格承诺申请，适用相同法律标准，并以客观和公正的方式进行评估。 中国机电商会将这一磋商结果称作电动汽车关税争端的"软着陆"，但对中国车企而言，进军欧洲市场依 然是一场难度不减的"开卷考试"。 欧盟要求企业提交的内容清单远超价格本身——还要求披露销售渠道、交叉补贴情况，以及未来在欧盟 的投资计划等信息。欧方的想法已经明牌——不仅想规范价格，更想用规则筛选出愿意长期在欧洲投 资、创造就业、融入本地产业的车企。 作为当初被欧盟抽选的主要调查对象之一，比亚迪在此次磋商结果出来前，在欧洲进行了一系列投入， 包括建工厂和扩展销售渠 ...

Core Viewpoint - The automotive parts industry is expected to experience significant growth driven by the acceleration of smart and global trends, with humanoid robots entering a phase of mass production by 2026 [2][7]. Group 1: Industry Overview - In 2025, domestic wholesale vehicle sales reached 21.16 million units, a year-on-year increase of 13.3%, leading to an 8.3% increase in automotive parts revenue [2][20]. - For 2026, the wholesale vehicle sales are projected to reach 30.3 million units, a 1.0% year-on-year increase, supported by the continuation of vehicle replacement policies [2][46]. - The automotive parts sector is expected to benefit from the increasing share of domestic brands and the pressure of annual declines on profit margins, which decreased by 0.5 percentage points year-on-year [2][43]. Group 2: Investment Strategy - The investment strategy emphasizes the importance of high-quality customers, with domestic brands being prioritized over new forces and joint ventures [3][9]. - The focus is on high-growth clients such as Geely and BYD in the domestic market, and the expansion of overseas production capacity is expected to enhance revenue and profit [3][8]. - The global expansion of Chinese automotive parts is anticipated to continue, particularly in North America and Europe, driven by the increasing electrification rate [3][9]. Group 3: Product Dimensions - The smart driving sector is expected to see accelerated growth, with a projected increase in penetration rates as advanced driving technologies become more accessible to the mass market [4][39]. - Humanoid robots are entering a mass production phase in 2026, with significant advancements in AI and robotics technology expected to drive long-term growth [4][54]. - Key investment opportunities are identified in high-performance driving chips and smart cockpit controllers, which are expected to experience substantial growth [4][53]. Group 4: Financial Performance - The automotive parts sector's revenue growth is closely tied to passenger vehicle sales, with a noted increase in average selling prices (ASP) [15][20]. - The gross profit margin for the automotive parts sector was 19.4% in 2025, reflecting a slight decline due to increased pressure from OEMs [26][33]. - The net profit growth for the automotive parts sector was only 4.2% year-on-year, indicating that profit growth is lagging behind revenue growth due to pressures from OEMs [33][39]. Group 5: Future Outlook - The automotive parts industry is expected to see a shift towards smart and electric components, with a focus on intelligent driving and humanoid robots as key growth areas [2][53]. - The five-force model indicates that the industry will favor smart electric components over traditional parts, with significant growth potential in humanoid robots and low-altitude applications [53][54]. - The overall industry space is defined by the value per vehicle, vehicle sales, and product penetration rates, with a strong emphasis on high-quality customers and favorable market conditions [54].

据《华尔街日报》报道，知情人士称，福特汽车正在与比亚迪磋商一项合作，计划为其部分混动车型采购比亚迪生产的电池。 两家公司目前仍在磋商合作方式。知情人士称，其中一种方案是，福特将从比亚迪进口电池，用于福特在美国以外的工厂。谈判仍在进行中，合 作最终能否达成尚不确定。 如果这项合作达成，福特将与比亚迪这个中国最大汽车公司联手。此前，比亚迪生产的高性价比电动车已让美国汽车行业深感不安。 福特发言人对此表示："我们与众多企业就各类事宜保持沟通。"截至发稿，比亚迪发言人不予置评。 在成为全球大型汽车制造商之前，比亚迪已经发展出成熟的电池制造业务，包括为混动车型生产电池。目前，比亚迪大部分电池仍在中国生产， 但随着其在东南亚、欧洲和巴西等市场的扩张，公司正在海外工厂提升产能。伯恩斯坦研究估计，比亚迪去年电池出货量增长 47%，达到286 吉瓦时。 不过，在《华尔街日报》报道这一潜在合作后，美国已经有人坐不住了。美国总统特朗普的贸易顾问彼得·纳瓦罗(Peter Navarro)就对这一合 作想法提出了批评。 1月16日，针对近日"福特正与比亚迪进行洽谈"传闻，福特中国回应称，"我们在很多业务领域都与不同的公司有会谈。我们不 ...

1、汽车出口总体情况 2025年我国汽车出口企业结构呈现显著优化态势，头部集聚度提升、自主乘用车车企崛起、乘用车车企成为核心增长极，产业链一体化 优势进一步凸显。未来，随着海外产能布局的持续完善、技术研发的不断深入以及市场多元化战略的推进，我国汽车出口有望继续保持 增长态势，但同时也需关注海外贸易壁垒、供应链风险及全球市场竞争加剧等挑战。建议企业加大核心技术研发投入，优化出口产品， 强化本地化生产与服务，进一步提升全球产业链话语权；同时，加强行业协同，共同应对外部风险，推动我国汽车出口高质量发展。 | 汽车厂家出口 増速 | 狭义乘用车 卡车 客车 出口 汇总 狭义乘用车 狭义乘用车 | 2022年 253 52 6 311 11% | 2023年 408 66 11 485 62% 16% | 2024年 490 78 18 586 20% 18% | 2025年 599 وا 20 710 22% 20% | | --- | --- | --- | --- | --- | --- | | 总量 | 卡车 | | 27% | 18% | 17% | | 客车 | | | 73% | 63% | 13% | ...