汽车行业将携“价值竞争”迈入2026

Core Insights - The 23rd Guangzhou International Auto Show marks a significant shift in the Chinese automotive industry from policy-driven growth to market-driven dynamics, emphasizing a transition from "price wars" to "value wars" [1][4][16] Industry Trends - A total of 1,085 vehicles were showcased at the auto show, with 629 being new energy vehicles (NEVs), representing 58% of the total, an increase of 14.3 percentage points from the previous year [4] - In the first ten months of this year, cumulative sales of NEVs in China exceeded 10 million units, achieving a market penetration rate of over 52.9% [4] - The shift in policy from direct subsidies to market-oriented growth is evident, with the Ministry of Industry and Information Technology announcing a reduction in NEV purchase tax starting in 2026 [4][16] Market Dynamics - The auto show highlighted a significant reshuffling in the market, with over 20 brands absent, including well-known names like Beijing Hyundai and Peugeot Citroën, indicating a trend of declining market performance for certain brands [6] - Brands are increasingly focusing on hybrid technology to meet consumer demand, with companies like Xpeng and GAC Aion expanding their product lines to include hybrid models [7] Technological Advancements - The concept of "smart driving equality" has gained traction, with advanced driving features becoming more accessible in mainstream models, as seen with the introduction of products like Leapmotor A10 and GAC Toyota's smart version [9] - Huawei has emerged as a key player in the auto show, showcasing its capabilities in smart driving and intelligent cockpit technologies, with its ADS having partnered with 33 vehicle models and accumulated over 5 billion kilometers of assisted driving mileage [13] Competitive Landscape - The automotive industry is transitioning from a focus on single product competition to ecosystem competition, with traditional automakers leveraging partnerships with technology suppliers to enhance their electric and intelligent capabilities [12] - A report indicates that only 15 out of 129 automotive brands in China are expected to achieve financial sustainability by 2030, suggesting an impending wave of consolidation and competition in the industry [16] Future Outlook - The auto show serves as a reflection of the past five years of transformation in the Chinese automotive sector while also pointing towards future trends, emphasizing the importance of value competition and long-term strategies for high-quality development [16]