BYD(HK:01211) Zhong Guo Jing Ying Bao·2025-09-02 05:01Core Insights - The 2025 Chengdu Auto Show has become a focal point for the off-road vehicle market, showcasing significant interest from various automakers in this segment [1][2] - The off-road vehicle market in China is projected to reach a scale of 1.66 million units by 2030, driven by the dual advantages of electrification and intelligence [1][5] - Domestic brands are rapidly entering the off-road market, with companies like Chery and 212 launching new models that emphasize advanced technology and off-road capabilities [2][4] Group 1 - The 2025 Chengdu Auto Show features a total exhibition area of 220,000 square meters, with nearly 120 participating brands and over 1,600 vehicles on display [1] - Ford's new all-terrain camping SUV, named "Ford Smart Fun Mustang," made its global debut at the show, highlighting the integration of smart electric technology [2] - Chery's subsidiary, Jetour, launched the G700 series, including the G700 Ring Tower Edition, which emphasizes luxury and off-road capabilities [2][4] Group 2 - The off-road vehicle market is categorized into hard-core and light off-road vehicles, with hard-core vehicles characterized by non-load-bearing body structures and four-wheel drive systems [4] - The sales of non-load-bearing body SUVs are expected to reach 346,000 units in 2024, marking a year-on-year increase of 48.4% [5] - The domestic hard-core off-road vehicle market is experiencing significant growth, particularly with the rise of independent brands [4][5] Group 3 - Jetour's G700 is equipped with advanced off-road capabilities, including three locking differentials and a high-pressure integrated beam, enhancing its performance in challenging terrains [7][8] - The 212 brand introduced the T01 diesel version, designed to meet the demands of off-road enthusiasts and long-distance travel [4][8] - The global market for hard-core off-road vehicles is expected to present substantial opportunities for Chinese brands, with a potential market size of 1.46 million units by 2030 [8]