2026的造车新王，要登基了？

Core Viewpoint - The article discusses the sales performance of new energy vehicle manufacturers in January 2026, highlighting a general decline in sales compared to December 2025, influenced by factors such as the reduction of the new energy vehicle purchase tax from full exemption to half exemption. The competition among leading brands is intensifying, with significant shifts in sales rankings observed [1]. Group 1: Sales Performance Overview - In January 2026, the retail sales of passenger vehicles in China reached 328,000 units, a year-on-year decrease of 32%, while wholesale sales were 381,000 units, down 40% year-on-year [1]. - The sales ranking among new energy vehicle manufacturers saw a shift, with Hongmeng Zhixing and Xiaomi surpassing Leap Motor, which had been the sales champion in the previous year [1]. - Hongmeng Zhixing reported a total delivery of 57,915 units in January, a year-on-year increase of 65.6%, but a month-on-month decrease of 35.3% from December's 89,611 units [2][5]. Group 2: Individual Company Performance - Xiaomi delivered over 39,000 units in January 2026, despite a drop from over 50,000 units in December 2025, attributed to the upcoming model change of its main vehicle [5]. - Leap Motor achieved a total delivery of 32,059 units in January, marking a year-on-year growth of 27%. In 2025, Leap Motor's total deliveries reached 596,555 units, a 103% increase year-on-year [9]. - Li Auto's sales in January were 27,668 units, down 7.5% year-on-year, continuing a trend of decline from 2025, where it only achieved 63.4% of its adjusted annual target [12][13]. Group 3: Market Trends and Predictions - The article notes a "Matthew effect" in the market, where stronger companies continue to grow while others struggle, as seen with Li Auto's declining sales [12]. - The China Automobile Association predicts that the growth rate of the new energy vehicle market will slow from 28% in 2025 to 15.2% in 2026, indicating a shift towards a more competitive environment focused on existing market share [18]. - Companies are expected to focus on enhancing smart driving features and cost control to remain competitive in a market where consumers prioritize product quality over brand newness [19][20].