限量1000辆仍“滞销”，smart销量已连续两年下跌

Core Viewpoint - Smart's sales continue to decline despite its backing from Mercedes-Benz, with significant challenges in the Chinese market and a failure to establish a strong brand identity [3][6][8]. Sales Performance - The smart EQ fortwo "Year of the Horse" limited edition, launched on January 1, 2026, has not sold out, with only 1,000 units available at a starting price of 139,900 yuan, which is 15,000 yuan lower than the standard model [3]. - Smart's sales target for 2025 was initially set at 120,000 units but was later revised down to 80,000 units. However, actual sales were only around 30,799 units, reflecting a decline of over 7% from the previous year [3][8]. - In 2024, smart's retail sales totaled 33,280 units, indicating a year-on-year decline of over 7% despite the introduction of the smart EQ fortwo [4][8]. Market Position and Strategy - Smart was established in 1994 as a joint venture between Daimler and Swatch, focusing on compact microcars. However, it faced production halts in various markets from 2017 to 2019 [6]. - In 2022, smart launched its first pure electric vehicle, the smart EQ fortwo, but sales have not met expectations. In 2023, the retail sales were 42,292 units [7]. - To improve sales, smart has made significant management changes and price reductions, with the smart EQ fortwo's starting price dropping to 154,900 yuan in April 2024 [7][8]. Expansion and Challenges - Despite declining sales, smart is expanding its retail presence, with a 25% increase in global store count to 688 by 2025, including a 43% increase in China [10][11]. - The brand's focus on the "light luxury electric small car" market has not developed as anticipated, with competitors like MINI also facing sales difficulties [14][15]. - The automotive market is becoming increasingly competitive, with a significant drop in retail sales for both traditional and electric vehicles in early 2026 [13][16].