进入2026年1月后，新能源汽车购置税开始减半征收，车企购 置税兜底政策也随之结束。另外，1月各地具体的购车补贴细 则尚未全部出台，导致消费者存在观望情绪，影响了车市终端 销售情况。 作者：王帅国 封图：图虫创意 2月1日，各家车企相继发布了1月销量。从整体上看，汽车行业实现2026年"开门红"，大多数车 企1月销量同比取得正增长，但这一同比增长是由于2025年春节在1月，去年同期的新车销售基数 较低。 环比数据上，大多数车企1月销量下滑明显，主要原因在于2025年12月新能源汽车还享受购置税 全额减免政策，同时车企为年底冲量，在12月出台了许多其他优惠政策。进入2026年1月后，新 能源汽车购置税开始减半征收，车企购置税兜底政策也随之结束。另外，1月各地具体的购车补贴 细则尚未全部出台，导致消费者存在观望情绪，影响了车市终端销售情况。 广汽集团1月销量为11.66万辆，同比增长18.47%，环比下滑37.79%。其中自主品牌销量超4.9 万辆，同比增长87.58%；海外销量同比增长68.59%。分品牌来看，昊铂+埃安销量2.16万辆， 同比大增171.63%；传祺品牌销量2.77万辆，同比增长51.06%； ...

Domestic News - The Ministry of Industry and Information Technology has released a mandatory national standard for automotive door handle safety requirements, effective from January 1, 2027, mandating mechanical release handles for each car door [3] - Nine departments, including the Ministry of Commerce, encourage local governments to increase subsidies for trade-in programs during the Spring Festival, aiming to boost consumer spending on various products [4] - The Ministry of Finance projects that sales of products related to trade-in programs will exceed 2.6 trillion yuan by 2025, benefiting over 360 million people [5] - Shanghai is actively supporting the development of smart connected new energy vehicles and other industries, focusing on modernizing the industrial system and promoting major industrial projects [6] - Guangdong province is supporting multiple regions to advance road testing and demonstration applications for smart connected vehicles, promoting their use in various scenarios [8] - NIO's sub-brand, Ladao, has launched in Uzbekistan, with several models introduced to the market, marking its first entry into overseas markets [9] - Dong'an Power and Lantu Automotive have established a joint innovation center to focus on next-generation efficient range-extending power and rotor engine technologies [10] - Quanzhou City has signed a cooperation agreement with CATL to build a smart zero-carbon battery factory, enhancing the new energy industry ecosystem [11] International News - France's new car sales fell by 6.55% in January, totaling 107,157 vehicles [12][13] - Italy's new car sales increased by 6.2% year-on-year in January, reaching approximately 142,000 vehicles [14] - Tesla has officially announced its entry into the Moroccan market, with a launch event scheduled for February 6, introducing the Model 3 and Model Y [15] - India's 2026 federal budget supports the automotive and electric vehicle industries through various policies aimed at reducing battery manufacturing costs and enhancing supply chain resilience [16] Commercial Vehicles - SAIC Maxus has announced a new vehicle plan, with multiple models including pickups, light trucks, and MPVs set to be released [17] - Iveco has officially launched the new Dedi 8AT model, featuring an 8-speed automatic transmission, enhancing performance while maintaining pricing strategies [18] - The Jiangxi section of the East China-South China expressway has officially opened, featuring 12 new heavy truck battery swap stations to improve logistics efficiency [19] - Dongfeng Motor is advancing the DPW (Dongfeng Production Way) initiative at its Shiyan base to enhance manufacturing competitiveness [20]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600686 | 金成汽车 | 17.02 | -1.16% | 25.44万 | 4.37 Z | | 000550 | 江铃汽车 | 17.78 | -0.22% | 4.97万 | 8830.15万 | | 000868 | 安凯客车 | 4.80 | -0.21% | 12.74万 | 6109.18万 | | 600303 | 曙光股份 | 3.23 | 0.00% | - 28.51万 | 9205.87万 | | 000957 | 中通客车 | 11.31 | 0.35% | 11.01万 | 1.24亿 | | 600006 | 东风股份 | 6.87 | 0.73% | 10.86万 | 7451.41万 | | 000800 | 一汽解放 | 6.81 | 0.74% | 12.07万 | 8200.11万 | | 600418 | 江淮汽车 | 52.91 | 0.76% | 41.22万 | 21.67亿 | | 60037 ...

Core Insights - The new energy heavy truck market reached a record high in 2025, with December sales of 34,500 units and total annual sales of 195,600 units, marking a year-on-year increase of 190% [1] - The surge in December sales was largely driven by the impending expiration of the old vehicle replacement policy and the reduction of the new energy vehicle purchase tax starting January 1, 2026, leading to a pre-purchase effect [1] - The January 2026 sales figures indicate a significant drop from December, suggesting that the market may have been overstated due to the previous year's demand being pulled forward [3] Sales Performance - In January 2026, 20,600 new energy heavy trucks were added, representing a 40% month-on-month decline but a 184% year-on-year increase [3] - The January sales were not a true reflection of market demand, as over 50% of the sales were likely carryover from the previous year [3] - The top provinces for new energy heavy truck sales included Shanghai, Shanxi, Guangdong, Hebei, and Xinjiang, with Shanghai leading at over 3,000 units sold in January [4] Company Performance - In January 2026, 15 companies sold over 100 units of new energy heavy trucks, with seven companies exceeding 1,000 units [7] - The top three companies, XCMG, SANY, and Sinotruk, sold over 2,800 units each, with XCMG leading at 2,962 units [9] - Year-on-year growth rates for major companies included 143% for XCMG, 126% for SANY, and 178% for Sinotruk, with several companies achieving over 100% growth [9] Market Share - In January 2026, the market shares of the top four companies were XCMG (14.4%), SANY (14.0%), Sinotruk (13.6%), and Jiefang (11.1%) [12] - The rankings saw some changes compared to December, with JAC returning to the top ten and Sinotruk moving up two positions [12] - The overall market performance indicates that while there are fluctuations, most companies maintained a high level of sales [14]

Core Viewpoint - Dongfeng Motor Corporation and Hubei Sanneng Axle Co., Ltd. have signed a strategic cooperation agreement to deepen collaboration in the light commercial vehicle sector based on principles of resource sharing, complementary advantages, mutual benefits, and ecological co-construction [1]. Group 1: Company Strategies - Dongfeng Motor Corporation is undergoing a critical transformation towards new energy and intelligence, aiming to optimize its product matrix and establish a modular and standardized system, particularly in the high-end axle sector [5]. - The company intends to enhance its core component supply capabilities and product competitiveness through integrated research and procurement [5]. Group 2: Collaboration Goals - Both companies aim to leverage their respective strengths and enhance information sharing to contribute to the high-quality development of the Hubei automotive industry [5]. - The collaboration seeks to achieve deep integration of industrial resources and brand value, creating synergistic effects to generate greater value for the Hubei automotive sector [5]. Group 3: Future Outlook - The signing of the strategic cooperation agreement marks the establishment of a resource-sharing and collaborative development platform between Dongfeng Motor and Sanneng Axle [5]. - Both parties will create a long-term and stable cooperation mechanism to continuously expand the depth and breadth of their collaboration and explore innovative pathways together [5].

Core Insights - Renault is restructuring its global strategy by focusing on regional markets, particularly China and India, while maintaining its stronghold in Europe [4][15][16] Group 1: China Market Strategy - Renault emphasizes "ecological cooperation" and "collaborative innovation" in China, moving away from short-term sales goals to a long-term restructuring approach [4] - The establishment of the Advanced China Development Center (ACDC) in 2024 is central to Renault's strategy, aiming to enhance product strategy, operational excellence, partnerships, and talent [4][6] - ACDC has already demonstrated efficiency, with the Twingo E-Tech electric vehicle project taking only 21 months from inception to production, setting a benchmark within Renault [6] Group 2: India Market Strategy - Renault is re-entering the Indian market by reviving the Duster SUV, with plans to launch a new generation model on Republic Day [7][11] - The Indian market has evolved, with SUVs now comprising over 50% of the passenger car market, compared to about 10% when Duster was first introduced [9] - Renault has fully acquired its manufacturing plant in southern India, with an annual capacity of approximately 500,000 vehicles, and will continue to supply parts for other markets, particularly South America [11] Group 3: European Market Strategy - Europe remains Renault's most significant market, contributing about 70% of the group's sales, with France and Western Europe being the most stable regions [12] - Renault continues to update its product lineup in Europe, with models like Clio and Captur being regularly refreshed to maintain market presence [12][14] - New products in Europe, such as the upcoming electric Twingo, are positioned to reinforce brand identity rather than solely focus on profit maximization [14] Group 4: Global Strategy and Market Dynamics - Renault's new global strategy reflects a shift towards a multi-polar and fragmented world, where different regions play distinct roles in the company's operations [15][16] - China is viewed as the "brain" for technological innovation, India as the "head" for stable manufacturing, and Europe as the "heart" for core sales and brand value [15] - This approach allows Renault to adapt to the complexities of the global automotive market, seeking a more resilient and realistic survival strategy amid geopolitical and trade uncertainties [16]

2月1日，各家车企相继发布了1月销量。从整体上看，汽车行业实现2026年"开门红"，大多数车企1月销量同比取得正增长，但这一同比增长是由于2025年春 节在1月，去年同期的新车销售基数较低。 环比数据上，大多数车企1月销量下滑明显，主要原因在于2025年12月新能源汽车还享受购置税全额减免政策，同时车企为年底冲量，在12月出台了许多其 他优惠政策。进入2026年1月后，新能源汽车购置税开始减半征收，车企购置税兜底政策也随之结束。另外，1月各地具体的购车补贴细则尚未全部出台，导 致消费者存在观望情绪，影响了车市终端销售情况。 具体来看，问界汽车1月交付约4万辆，同比增长83%，环比下滑30.74%；小米汽车1月交付超3.9万辆，去年同期为超2万辆，去年12月为超5万辆；零跑汽车 1月全系交付达3.21万辆，同比增长27%，环比下滑46.94%。 比亚迪1月销售21.01万辆，其中海外销量表现亮眼，乘用车及皮卡海外销售10万辆，同比增长43.3%。分品牌来看，比亚迪品牌销售17.75万辆；方程豹品牌 销售2.16万辆；腾势品牌销售6002辆；仰望品牌销售413辆。 长城汽车1月销售新车9.03万辆，同比增长11. ...

Core Insights - The automotive market in January 2026 shows a clear distinction between traditional domestic brands, which are performing strongly, and new energy vehicle (NEV) startups, which are facing challenges [1][5] Traditional Domestic Brands Performance - Major traditional automakers like SAIC, Geely, and Chery reported over 20% year-on-year sales growth in January 2026, with SAIC leading the market [2][3] - SAIC sold 327,400 vehicles in January, a 23.9% increase year-on-year, with 214,000 units from its own brands, marking a 39.6% increase [2] - Geely's sales reached 270,200 units, a 1% year-on-year increase, with NEV sales contributing significantly [2] - Chery's sales totaled 200,300 units, with exports accounting for 119,600 units, a 48.1% increase year-on-year [3] - GAC Group saw a significant increase in sales, reaching 116,600 units, up 18.47% year-on-year, driven by its new energy and overseas sales [3] New Energy Vehicle Startups Challenges - In contrast, nine major NEV startups experienced a collective decline in sales, with month-on-month drops ranging from 21.2% to 47.0% [5][6] - Despite the downturn, some brands like NIO and Zeekr reported year-on-year growth exceeding 95% [6][7] - The decline in NEV sales is attributed to short-term factors such as policy changes and seasonal demand fluctuations [6][7] - The market is expected to stabilize post-policy transition, with a potential recovery in sales anticipated in February and March 2026 [7] Market Dynamics and Future Outlook - The automotive industry is witnessing a restructuring of brand rankings, with traditional brands solidifying their positions while new entrants face increasing competition [1][5] - The long-term growth logic of the NEV sector remains intact, with expectations for a gradual recovery as new products are launched and market conditions improve [7]

Core Insights - Dongfeng Motor Corporation is focusing on technology autonomy and high-quality transformation, with 2026 designated as the "Year of Technology Realization" [1] - The company aims to achieve a total sales target of 3.25 million vehicles in 2026, including 1.7 million new energy vehicles and 600,000 exports [2][3] Technology Development - Dongfeng's R&D investment intensity is projected to reach 7.9% in 2025, significantly above the industry average, supporting technological innovation [1] - The company has made breakthroughs in core component autonomy, including the mass production of the DF30 automotive-grade MCU chip and a 67% localization rate for chips in its self-owned brand vehicles [1] - The Mahle hybrid engine has achieved a thermal efficiency of over 48%, set to be widely applied in multiple new energy models launching in 2026 [1] Intelligent Systems - The "T200" intelligent driving system will be widely adopted in key models, providing L2+ level assistance for highways and urban roads by 2026 [2] - The "T500" advanced driving system is expected to enter mass production, enhancing user experience through the "Tianyuan Smart Cabin" technology [2] Commercial Vehicle Sector - Dongfeng's commercial vehicle division aims for a sales target of 131,000 units in 2025, with a 24% year-on-year increase, and 176,000 units in 2026, representing a 34% growth [4] - The company plans to launch over 70 new energy models, including hydrogen fuel and hybrid vehicles, in 2025 [2] Product Strategy - Dongfeng is expanding its product matrix across various market segments, including high-end, mainstream, and niche markets, with a focus on collaboration between self-owned and joint venture brands [3] - The company plans to introduce 15 new and upgraded products from 2026 to 2028 under the Dongfeng Fengshen brand, targeting family travel and light off-road segments [3] International Expansion - Dongfeng aims to strengthen localized operations in 18 key overseas markets, with a goal of achieving 600,000 vehicle exports [4] - The company is enhancing its local supply chain for joint venture brands like Peugeot, Citroën, Nissan, and Honda to maximize collaborative value [4] Organizational Reform - Dongfeng will grant greater autonomy to frontline business units and enhance incentive mechanisms to improve market responsiveness and operational efficiency [4] - The company is committed to driving high-quality development in the Chinese automotive industry through technology, brand enhancement, and deep reforms [4]

截至2月2日，国内主流车企2026年1月产销数据陆续披露。整体市场呈现"传统自主强势领跑、新势力普 遍承压"的鲜明格局：上汽、吉利、奇瑞等头部车企销量同比多实现20%以上增长，自主品牌座次因新 能源与出口表现差异出现重构。 与此同时，9家主流造车新势力则遭遇集体环比下滑。业内分析指出，短期政策切换、淡季效应等因素 扰动终端，但自主车企核心竞争力持续提升，新势力"马太效应"加剧，行业高质量发展的长期逻辑未 变。 ● 本报记者 龚梦泽 自主品牌座次重构 奇瑞集团凭借出口优势跃居前列，1月销售汽车20.03万辆，其中出口11.96万辆，同比增长48.1%，连续 9个月出口突破10万辆。新能源板块同样稳步推进，1月销量5.21万辆，形成"出口+新能源"双轮驱动格 局。旗下主要品牌中，奇瑞品牌销量13.56万辆，捷途品牌4.27万辆，星途、iCAR、智界品牌分别销售 5276辆、3419辆、4506辆，产品矩阵覆盖从主流到高端的全细分市场。 广汽集团自主板块爆发式增长，推动整体销量达11.66万辆，同比增长18.47%。这是昊铂埃安BU和传祺 BU完成组建后首次披露月度销量，成效立竿见影：昊铂埃安BU销量超2.16万辆 ...