经济观察报·2026-02-03 12:15Core Viewpoint - The automotive industry experienced a mixed performance in January 2026, with many companies reporting year-on-year sales growth due to a low sales base from the previous year, but a significant month-on-month decline due to the end of full tax exemptions and consumer hesitation [2][3]. Group 1: Overall Market Performance - In January 2026, the automotive industry achieved a positive year-on-year growth, largely influenced by the low sales base from January 2025 when the Spring Festival occurred [2]. - Month-on-month sales for most companies declined significantly, attributed to the end of full tax exemptions for new energy vehicles and the lack of clear local subsidy policies, leading to consumer hesitation [2][3]. Group 2: Company-Specific Performance - Geely's sales reached 270,200 units in January, a year-on-year increase of 1.29% and a month-on-month increase of 14%. New energy vehicle sales accounted for 46% of total sales [3][4]. - BYD sold 210,100 units in January, with overseas sales of 100,000 units showing a year-on-year growth of 43.3% [4]. - Chery Group's sales were 200,300 units, down 10.72% year-on-year and 18.23% month-on-month, with new energy vehicle sales at 52,100 units [5]. - GAC Group reported sales of 116,600 units, a year-on-year increase of 18.47%, but a month-on-month decline of 37.79% [5]. - SAIC Group's sales data showed a retail volume of over 78,000 units for its passenger vehicle segment, a year-on-year increase of 9.8% [6]. Group 3: New Energy Vehicle Segment - New energy vehicle sales for Geely were 124,300 units, with a year-on-year growth of 3% [4]. - BYD's new energy vehicle sales were 177,500 units, contributing significantly to its overall performance [4]. - The new energy vehicle segment is showing resilience, with companies like AITO (问界) and Xiaomi Auto reporting substantial year-on-year growth [7][8].