合资沉浮20年：昔日王者 重回一线

Core Viewpoint - The article discusses the transformation of joint venture car manufacturers in China, highlighting their shift from dominance to a reactive stance against the rise of domestic brands, and their recent efforts to reclaim market leadership through new energy vehicles and local partnerships [1][12][22]. Group 1: Historical Context - Joint venture brands held a 66% market share in China's passenger car market in 2014, while new entrants like NIO and Xpeng were just emerging [1]. - By 2024, the market share of joint venture brands is projected to drop below 35%, contrasting with the rise of domestic brands like BYD and Xpeng, which have capitalized on electric and intelligent vehicle technologies [12][14]. Group 2: Recent Developments - In 2025, joint venture brands are actively seeking to regain influence by launching new energy sub-brands, such as SAIC-GM's high-end brand "Zhijing" and Dongfeng Honda's independent brand "Lingxi" [1]. - Collaborations with local companies are also emphasized, with models like Audi A5L and Dongfeng Nissan N7 integrating advanced driving systems developed with Huawei and Momenta [2][23]. Group 3: Market Dynamics - The Shanghai Auto Show has seen increased foot traffic for joint venture brands, indicating a renewed interest as they adapt to local market demands [2]. - Buick's appeal in the Middle East is noted, as the brand meets local consumer expectations for quality and comfort, leading to potential partnerships for new model introductions [5]. Group 4: Strategic Shifts - Joint venture manufacturers are shifting their development focus to be more localized, with decision-making authority being transferred to Chinese teams to better align with consumer needs [22][25]. - The article highlights the importance of safety and technology integration, with companies like SAIC-GM and Dongfeng Nissan emphasizing local development and collaboration with leading suppliers [24][26]. Group 5: Challenges Ahead - Despite the positive momentum, joint venture companies face challenges in sustaining R&D investments while balancing profitability, as seen with Volkswagen's projected 33.5% revenue decline in China for 2024 [25]. - The need for a cohesive strategy that integrates local market demands with global standards remains a critical challenge for these manufacturers [27].