

Group 1: Market Overview - In August 2025, the pickup market sold 40,000 units, a year-on-year decrease of 0.3% and a month-on-month decrease of 3.0%, remaining at a mid-high level compared to the past five years [1] - From January to August 2025, the pickup market sold 387,000 units, showing a year-on-year growth of 12.7% [1] - The main demand for pickups is concentrated in the Southwest and Northwest regions, accounting for 45% of total demand in August 2025 [1] Group 2: Company Performance - Great Wall Motors continues to lead the pickup market, with stable performance both domestically and internationally [1] - In the August 2025 pickup sales ranking, Great Wall Motors sold 13,322 units, a decrease of 2.9% year-on-year, while Changan and Zhengzhou Nissan saw significant increases of 53.5% and 56.3% respectively [4] - From January to August 2025, Great Wall Motors sold 123,322 units, a year-on-year increase of 4.8% [5] Group 3: Export and New Energy Pickup Trends - In 2024, China exported a total of 244,000 pickups, with an impressive growth rate of 85% [2] - In August 2025, the pickup export volume was 21,000 units, a year-on-year increase of 3% [2] - The sales of new energy pickups reached 2,120 units in 2024, a year-on-year increase of 170%, with a cumulative sales of 49,000 units from January to August 2025, reflecting a growth of 536% [2] Group 4: Competitive Landscape - In the new energy pickup segment for August 2025, Geely Radar sold 1,221 units, BYD sold 861 units, and Changan sold 710 units, indicating a growing market for new energy pickups [3] - The competitive landscape shows that the "one strong, three weak" pattern in the domestic pickup market continues, with Great Wall Motors, Jiangling Motors, and Zhengzhou Nissan performing well [1]