这家合资车企给出韧性成长密码

Core Insights - The year 2025 marked a critical restructuring phase for the Chinese automotive market, with significant growth in new energy vehicle (NEV) sales exceeding 13 million units and a market penetration rate surpassing 50% [1] - The competition in smart technology has shifted from mere configuration to prioritizing user experience, leading to a technological iteration cycle across the industry [1] - Domestic brands are leading the market due to technological advancements and localization, while joint venture brands are experiencing polarization, with some struggling and others successfully adapting through deep localization reforms [1] Group 1: Company Performance - Yueda Kia achieved a cumulative sales figure of 253,964 vehicles in 2025, reflecting a year-on-year growth of 2.3%, marking two consecutive years of positive sales growth [4] - The company maintained a remarkable achievement of over 20,000 monthly sales for ten consecutive months, concluding December with a sales figure of 20,666 vehicles [4] - Yueda Kia's overseas business also thrived, with total vehicle exports reaching 537,000 units and export revenue hitting $5.83 billion, alongside engine exports totaling 122,000 units [4] Group 2: Strategic Positioning - Yueda Kia's "oil-electric parallel" strategy has been pivotal in establishing a solid foundation in a competitive market, focusing on a full matrix of vehicle models while gradually advancing its NEV transition [9] - The SUV segment remains a strategic focus, with product enhancements targeting younger consumers, such as the 2026 model lineup featuring competitive pricing and upgraded configurations [12] - The company is avoiding the "homogenization" trap in the NEV sector by introducing differentiated models like the EV5, which addresses family user needs with a long range and flexible space [16] Group 3: Brand and Marketing Strategy - Yueda Kia's sponsorship of local sports events, such as the Jiangsu Province City Football League, has strengthened its brand connection with consumers, emphasizing emotional engagement over mere visibility [20] - The company has established a deep marketing system that integrates global IP with local emotional connections, enhancing brand value and market penetration [24] - Yueda Kia's commitment to long-term sports marketing is evident in its ongoing partnerships with FIFA and the Australian Open, reinforcing its brand identity through high-profile events [22] Group 4: Service and Distribution - Yueda Kia has successfully navigated the challenges of channel transformation by deepening partnerships with major dealer groups, ensuring high-quality service across its network [29] - Despite industry-wide challenges, Yueda Kia added over 60 new sales outlets in 2025 and achieved profitability for over 60% of its dealers, with a stock index of 1.2, significantly better than the industry average [29] - The company has received recognition for its after-sales service, scoring 799 points in the J.D. Power 2025 China After-Sales Service Satisfaction Study, placing it among the top five mainstream brands [32] Group 5: Future Outlook - Yueda Kia plans to accelerate product launches in 2026, introducing three global models that encompass both fuel and electric vehicles, continuing its "oil-electric parallel" strategy [35] - The company aims to enhance its technological capabilities to meet local market demands for smart features, focusing on intelligent cockpit and driving assistance systems [35] - Yueda Kia's strategic focus on service, product, and technology is expected to position it as a leading example of localization transformation among joint venture brands in the coming years [35]