2026.01. 09 本文字数：973，阅读时长大约1.5分钟 作者 | 第一财经 葛慧 2025年被称为"反内卷"之年，但年末车市依旧溅起了价格战的"浪花"。 乘联分会秘书长崔东树提供的最新数据显示，2025年12月，新能源车降价车型均价为13.6万元，平 均降价2万元，降幅高达14.7%。 受新能源车降价拖累，12月份总体乘用车市场新车降价车型均价12.4万元的降价力度算术平均达到 1.5万元，降幅达12.4%。 从全年角度看，1~12月份，新能源车新车降价车型均价19.5万元的降价力度算术平均达到2.1万元， 降幅达11%。 第一财经对比2020~2025年数据发现，2025年新能源车新车的降价力度创下了近3年的新高，仅好于 2022年的13.8%。 | | 乘用车新车降价的综 | 2020年 | 2021年 | 2022年 | 2023年 | 2024年 | | 2025年 | 2025年 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 合降价 | | | | | 汇总 | 11月 | 12月 | 汇总 | | ...

图 视觉中国 国内汽车行业利润率连续5年下滑 2025年12月12日，市场监管总局发布《汽车行业价格行为合规指南（征求意见稿）》，这份五章28条的 文件，被视为官方喊停价格战的明确信号，扭转行业近年非理性竞争的风向标。 文件不仅明确列举了低于成本销售、价格串通、虚假促销等九类高风险价格行为，更构建了覆盖生产、 销售、服务全链条的合规框架——要求企业建立以生产成本为基础的定价机制，尊重经销商自主定价 权，规范"付费解锁"功能收费公示，同时将汽车交易网络平台纳入监管，禁止强制经营者参与低价促 销。 这一政策出台的背后，是中国汽车销量连年增长，但是行业利润连年下滑。 中国汽车工业协会的数据显示，国内汽车行业利润率已连续5年下滑，从2020年的6.2%逐步降至2025年 前九月的4.5%，远低于机械行业7.39%的平均水平。 中国汽车流通协会相关人士指出，74.4%的经销商存在价格倒挂、52.6%的经销商陷入亏损的现状，已 严重挤压研发创新空间。 作为对比，丰田汽车2024财年（2024年4月-2025年3月）净利润高达约2377亿元人民币，相当于中国18 家上市乘用车企业总利润的2.65倍，其11.5%的利润率背后 ...

Core Viewpoint - The resignation of Li Lizhong as chairman of Zotye Auto after only two months in office raises concerns about the company's governance and ongoing financial struggles [1][3]. Group 1: Leadership Changes - Li Lizhong, a veteran from the "Chery system," resigned due to personal family reasons, which has led to speculation about his ability to navigate the company's complex governance environment [3]. - Zotye Auto has experienced significant executive turnover, with over 20 high-level personnel changes announced in 2024 alone, including key positions such as vice president and CFO [3]. Group 2: Financial Struggles - Zotye Auto has faced continuous financial difficulties, reporting losses for six consecutive years from 2019 to 2024, with a total loss of 25.093 billion yuan [5]. - In the first three quarters of this year, the company reported a net loss of 22.3 million yuan, a 33.13% increase in losses compared to the same period last year [5]. - As of September 30, total assets were 3.37 billion yuan, with owner equity dwindling to 12.5828 million yuan, nearing insolvency [5]. Group 3: Operational Challenges - Following its restructuring in 2021, Zotye Auto has struggled to meet expectations, with new models like the T300 and Jiangnan U2 failing to achieve significant sales, each selling less than 100 units monthly [7]. - The company has not resumed large-scale production and sales since its restructuring, citing challenges such as market competition and internal weaknesses [7]. - In September, shares held by the controlling shareholder were auctioned, and assets were frozen, exacerbating the company's financial woes [7]. Group 4: Current Status and Future Outlook - In October, Zotye Auto entered a "no-owner" status as no single shareholder held more than 30% of the company, complicating its governance further [8]. - Recently, the company reached debt settlement agreements with two banks, which may provide temporary relief but does not address the underlying operational and financial challenges [9][11]. - The next leadership will face significant hurdles, including frequent personnel changes, lack of working capital, and prolonged operational shutdowns [11].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：国际金融报 公开资料显示，该店于2023年9月20日才正式开业，占地达10000平方米。彼时，保时捷中国总裁柯时迈 曾亲自到场祝贺。这意味着，这家被东安集团寄予厚望的省外豪华门店，从开业到如今疑似停摆，仅运 营了两年零三个月。 保时捷郑州4S店疑似"跑路"的风波还在继续发酵。 满新/摄 需要厘清的是，两家涉事门店并非保时捷品牌直营，其控股股东均为东安控股集团。东安控股集团是河 南省新乡市一家知名经销商集团，业务覆盖奥迪、宝马等多个豪华品牌以及大众市场品牌。 吴迪/摄 12月26日下午，郑州门店隶属的东安控股集团发布《通告》，确认郑州中原保时捷、贵阳孟关保时捷， 还有郑州东锦大众店三家门店暂停营业，全体员工进入待岗状态，具体复业时间待定，其否认了外界传 言的"投资人跑路"说法，表示目前在相关部门的监督下稳步推进解决。 事态爆发于几天前。 12月23日清晨，郑州中原保时捷中心员工到岗时发现，展厅已空无一车，管理层失联。这一突如其来的 变故使得已支付定金的消费者、近期提车但未拿到车辆合格证的车主，以及购买预充值服务的客户均陷 入困境。 ...

近日，东安控股集团有限公司旗下的"郑州中原保时捷中心疑闭店'跑路'"一事引发车主和网友热议。 12月26日晚，据央广网，东安集团发布通告，确认了郑州中原保时捷、贵阳孟关保时捷、郑州东锦大众店三家门店暂停营业。 东安集团在通告中回应，"关于拖欠客户合格证的问题，集团正在积极与各银行、厂家沟通，近期有望达成沟通结果，尽快将合格证交付给客户。""关于 客户定金和储值保养问题，集团将会分批次有序解决。" 需要指出的是，针对如何解决侵害消费者权益的这些问题，《通告》并未给出确切的时间，而是使用了"有望""尽快"等措辞。 东安集团称，近年来，汽车行业价格战等因素，集团实际经营情况困难，经集团研究决定，自2025年12月26日起，郑州中原保时捷、贵阳孟关保时捷、郑 州东锦大众店暂停营业。 东安集团的通告还提到，关于员工账款问题，集团表示正在积极筹措资金，预计在30日内分批次、按比例处理完毕；关于员工工资问题，预计在60日内发 放完毕；关于停业期间的社保问题，将正常缴纳；关于供应商欠款问题，将会分批次解决。 通告否认了网上出现的关于"投资人跑路"等消息，同时还提到，"将在相关部门监督下，严格按照以上时间节点，稳步推进，直至事 ...

记者丨江佩佩 编辑丨张楠 近日，东安控股集团有限公司旗下的"郑州中原保时捷中心疑闭店'跑路'"一事引发车主和网友热议。 12月26日晚，据央广网， 东安集团发布通告，确认了郑州中原保时捷、贵阳孟关保时捷、郑州东锦大众店三家门店暂停营业 。 郑州中原保时捷中心 图源/ 央广网 东安集团在通告中回应，"关于拖欠客户合格证的问题，集团正在积极与各银行、厂家沟通，近期有望达成沟通结果，尽快将合格证交付给客 户。""关于客户定金和储值保养问题，集团将会分批次有序解决。" 需要指出的是，针对如何解决侵害消费者权益的这些问题，《通告》并未给出确切的时间，而是使用了"有望""尽快"等措辞。 东安集团称， 近年来，汽车行业价格战等因素，集团实际经营情况困难，经集团研究决定，自2025年12月26日起，郑州中原保时捷、贵阳孟 关保时捷、郑州东锦大众店暂停营业。 东安集团的通告还提到，关于员工账款问题，集团表示正在积极筹措资金，预计在30日内分批次、按比例处理完毕； 关于员工工资问题，预计 在60日内发放完毕 ； 关于停业期间的社保问题，将正常缴纳；关于供应商欠款问题，将会分批次解决。 通告否认了网上出现的关于"投资人跑路"等消息 ...

Core Viewpoint - Dong'an Holdings Group, a major automotive dealer in China, is facing severe operational difficulties leading to the suspension of several dealerships, resulting in significant financial distress for customers and employees [5][9]. Group 1: Company Overview - Dong'an Holdings Group was founded in 1993 and is headquartered in Xinxiang, Henan Province, operating over 40 subsidiaries [7]. - The company claims to be among the top 100 in China's automotive circulation industry and is a leading enterprise in Henan, representing 12 automotive brands including Porsche, BMW, Audi, and Toyota [7]. Group 2: Operational Challenges - The company announced the suspension of operations for its Zhengzhou Zhongyuan Porsche Center and Guiyang Mengguan Porsche Center, along with the Zhengzhou Dongjin Volkswagen store, effective December 26 [5]. - The suspension is attributed to market downturns, severe consumer downgrade, and price wars in the automotive industry [5]. Group 3: Financial and Employee Issues - Employees will receive temporary salaries based on local minimum living standards during the suspension, with plans to address outstanding employee payments within 30 days and wages within 60 days [5]. - The company is working to resolve customer issues regarding vehicle certificates, deposits, and maintenance funds in a phased manner [5]. Group 4: Response and Communication - Dong'an Holdings Group has denied rumors of "investors fleeing" and urged the public not to spread false information, emphasizing their commitment to resolving the situation under supervision [5]. - The local government has established a task force to manage consumer debt registration related to the company's financial issues [9].

Core Viewpoint - The Zhengzhou Zhongyuan Porsche Center and other dealerships are suspending operations due to economic downturns, consumer downgrade, and price wars in the automotive industry, with a focus on addressing employee and customer concerns during this period [1][2]. Group 1: Company Operations - The group has decided to suspend operations at Zhengzhou Zhongyuan Porsche, Guiyang Mengguan Porsche, and Zhengzhou Dongjin Volkswagen stores starting December 26, 2025, with all employees placed on leave [1]. - During the leave period, employee salaries (excluding outsourced labor) will be temporarily paid at the local minimum living standard [1]. Group 2: Employee and Customer Issues - The company is actively raising funds to address employee account issues, expecting to resolve them in batches within 30 days [2]. - Employee wages are projected to be paid within 60 days, and social insurance will continue to be paid during the suspension [2]. - The company is in communication with banks and manufacturers to expedite the delivery of customer certificates, with a positive outcome expected soon [2]. - Supplier debts will be addressed in batches, and customer deposits and maintenance service issues will be resolved in an orderly manner [2]. Group 3: Public Communication - The company has labeled online rumors about "investors fleeing" as false and detrimental to problem resolution, urging the public not to spread such rumors [2].

12月20日，第十三届轩辕年度盛典在北京举行。现场揭晓了2025年"中国年度汽车"等重要奖项。极氪 9X获"中国年度汽车"，问界M8、猛士M817、小鹏P7、理想i6等十款车型入选"年度十佳汽车"。 | 极量9X | 全新小鹏P7 | | --- | --- | | 尊界S800 | 全新MG4 | | 问界M8 | 吉利银河M9 | | 理想i6 | 刀但妹伊起版 | | 猛土M817 | 蔚来全新ES8 | 年度最佳设计 Good Design of the year 全新小鹏P7 猛士M817 firefly萤火虫 年度最佳设计师 Car Designer of the year 于 道 展览 ( ) 中 ( ) 中 ( ) 中 ) 中 ( ) 中 ) ( ) ( ) ) ( ) ( ) 中 ( ) ( ) ) ( ) ( ) ) ( ) ( ) ) ( ) ( ) ) ( ) ( ) ) ( ) ( ) ( ) ( ) ) ( ) ( ) ) ( ) ( ) ) ( ) ( ) ( ) ) ( ) ( ) ( ) ( ) ) 汇天联合创始人、副总裁 年度合资汽车 Good JV Car of the ...

Core Viewpoint - Hozon New Energy Vehicle Co., Ltd. is undergoing a restructuring process, with a potential investor, Shanzi Gaoke, having submitted the required materials and a deposit of 50 million RMB for the restructuring bid [2][3]. Group 1: Restructuring Process - As of the deadline for potential investors, only one investor has submitted complete application materials and paid the required deposit [2]. - The restructuring announcement allows for investors from various industries, provided they have sufficient financial strength and no significant overdue debts [3]. - The deadline for the payment of the deposit is set for September 15, 2025 [3]. Group 2: Financial Status - As of May 1, 2025, Hozon New Energy's assets primarily consist of fixed assets, machinery, intellectual property, and accounts receivable [3]. - The company owns a 350-acre industrial land in Tongxiang, Zhejiang, along with production line equipment and proprietary software products [3]. Group 3: Debt Situation - As of August 31, 2023, a total of 1,631 creditors have claimed debts amounting to approximately 26.58 billion RMB [4]. - The management has confirmed debts from 1,340 creditors totaling 5.183 billion RMB, with 72 claims rejected amounting to 10.616 billion RMB [4]. - The company owes over 5,000 employees approximately 460 million RMB, with ongoing verification of employee claims [4]. Group 4: Business Continuity Plan - A plan has been proposed to continue operations during the restructuring, including defect repairs and after-sales maintenance to preserve asset value and maintain brand trust among 400,000 car owners [4]. - The plan emphasizes resolving supply chain issues and gradually restoring after-sales services [4]. Group 5: Reasons for Bankruptcy - Key reasons for Hozon New Energy's bankruptcy include intensified industry price wars, lack of differentiated product positioning, and high R&D costs without meeting sales expectations [5]. - The company faced financial strain due to failed IPO attempts and numerous lawsuits leading to frozen bank accounts and asset seizures [5]. Group 6: Future Prospects - Shanzi Gaoke believes there are new opportunities in the competitive automotive market, focusing on differentiated product development through partnerships with tech companies like Alibaba [5]. - The company is in the critical R&D phase for new vehicle projects, aiming to innovate production processes and enhance supply chain efficiency [5].